Viet Nam Dairy Products Joint Stock Company, or Vinamilk, will spend almost US$11 million to buy its Cambodian partner’s entire stake in Angkor Dairy Product Company Limited (Angkormilk) in Phnom Penh, Cambodia. — Photo soha.vn
Two-way trade turnover between Viet Nam and Cambodia reached US$624.1 million in the first two months of the year, up 21.2 per cent compared with the same period last year.
This information was presented by Vietnamese Ambassador to Cambodia Thach Du at a seminar in Cambodia, held by the Vietnamese Embassy with the participation of some 100 Vietnamese firms.
Viet Nam is Cambodia’s third largest partner and continues to be among the top five investors in this country, with bilateral trade reaching $3 billion until the end of last year.
The increasing trade value is considered a positive signal for the two countries amid expectations that the figure will increase to $5 billion in subsequent years.
The traditional friendship, favourable geographical conditions and efforts of the two governments were the foundation for promoting economic, trade and investment cooperation between Viet Nam and Cambodia in recent years, Du said.
In addition, Viet Nam is always among countries with the highest number of visitors to Cambodia, and vice versa, as Cambodian tourists consider Viet Nam their top choice for travel.
The seminar was aimed at helping Viet Nam’s enterprises better understand the situation and business opportunities in Cambodia to continue to maintain the leading position in the country. It also provided an opportunity to connect with other businesses investing in Cambodia.
Many representatives of companies attending the seminar, such as the Association of Vietnamese Investors in Cambodia (AVIC), Viet Nam Rubber Group (VRG), Metfone, Angkor Milk and Chak Angre Hospital, mentioned the difficulties and obstacles they faced in doing business abroad.
In addition, they proposed some recommendations of the enterprise community on existing issues, such as tax and visa-related issues for Vietnamese workers, to the governments of the two countries. — VNS