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Cambodia ratifies protocol on investment with Vietnam

The National Assembly of Cambodia on April 3 ratified a protocol on the investment promotion and protection agreement between the governments of Cambodia and Vietnam.
The National Assembly of Cambodia on April 3 ratified a protocol on theinvestment promotion and protection agreement between the governments ofCambodia and Vietnam.

All 64 lawmakers of the ruling CambodiaPeople’s Party, who were present at the parliamentary session,unanimously approved the document.

Chairman of the NACommission on Investment, Agriculture, Rural Development, Environment,and Water Resources Mok Mareth said the protocol is part of efforts toensure investor confidence and facilitate investment between the twocountries.

The document is a step forward to attract investmentfrom Vietnam and gain more confidence from Vietnamese investors, hesaid.

Meanwhile, Secretary General of the Council for theDevelopment of Cambodia Sok Chenda Sophea confirmed that a lot ofVietnamese investors are doing business in Cambodia, and the protocolwill keep them staying longer and reel in more new investors.

According to the Association of Vietnamese Investors in Cambodia,Vietnam is the fifth biggest investor in Cambodia, with 128 projectsworth over 3 billion USD by 2013.-VNA
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