Vietnamese firms updated on Cambodia’s investment policy
The Cambodian Government’s new policies on investment attraction and facilitation to foreign investors were introduced to Vietnamese enterprises attending the 7th Mekong Forum in Phnom Penh on December 9.
Metfone -Viettel’s subsidiary in Cambodia (Source: panoramio.com) Accordingly, the Cambodian Government will neither restrict currency trading nor control capital and goods prices, while maintaining one-stop-shop services, and import tax exemption for machinery and materials.
Representatives from the Vietnamese side also updated participants on the country’s bilateral economic cooperation policies, affirming that the Vietnamese Government always creates favourable conditions for and encourage Vietnamese companies to expand investment and business in Cambodia.
Hosted by the Vietnam, Laos and Cambodia Economic Development and Cooperation Association (VILACAED) of Vietnam, the event is part of activities to mark the 50th founding anniversary of Vietnam-Cambodia diplomatic ties.
It offered a good chance for enterprises from the two countries to share information and establish partnerships, contributing to further promoting trade links within the ASEAN Economic Community.
On the occasion, several Vietnamese outstanding enterprises and entrepreneurs were presented with awards in recognition of their effective investment and business in Cambodia and remarkable contributions to the country’s socio-economic development.
Vietnam is one of Cambodia’s leading economic partners with two-way trade reaching 3.4 billion USD in 2015.
As of May 2016, Vietnamese businesses operated 183 projects worth 2.85 billion USD in Cambodia.
Meanwhile, Cambodia ranked second among over 60 countries and territories attracting Vietnamese enterprises. Direct investment from Vietnam in Cambodia has recorded a strong surge, especially in agriculture, forestry, energy, finance-banking, insurance, and telecommunication.-VNA
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