Cambodian media highly evaluates investment potential with Vietnam

The Cambodian media highly evaluates investment potential with Vietnam. (Photo: VNA)

Phnom Penh (VNA) - Many Cambodian newspapers such as SBM NEWS, Phnom Penh Post, CNC, Khmer Times, and Nokorwat News Daily have highly appreciated Cambodia's potential for cooperation and investment promotion with Vietnamese businesses.

They have run several articles with topics revolving around working meetings and communication connections, and trade between the Vietnam – Cambodia Business Association (VCBA) with Cambodian ministries and agencies such as the Cambodia Development Council (CDC), the Cambodian Ministry of Agriculture, Forestry and Fisheries, and the Cambodian Chamber of Commerce in Cambodia on March 7-8.

The articles were published in both Khmer and English, focusing on the meeting and working session between the VCBA business leaders and Deputy Prime Minister Sun Chanthol, who is also First Vice President of the Council for the Development of Cambodia (CDC), in which the two sides agreed to cooperate in promoting Cambodia's potential to attract Vietnamese investors.

The SBM NEWS news website said that at the meeting, VCBA Chairman Oknha Leang Rithy pledged efforts to cooperate with the CDC to introduce Cambodia's potential to Vietnamese investors in an attempt to attract investment to various fields, especially agriculture.

Oknha Leang Rithy also expressed his impression with Cambodia's remarkable development, especially efforts of the new government. He shared his experience in the process of investing and doing business in the agricultural sector in Cambodia, especially the rice and rubber industries.

For his part, the CDC First Vice President emphasised Cambodia's favourable factors for investors such as a peaceful environment, economic stability, open investment laws, and a favourable infrastructure system.

Sun Chanthol also thanked investors for choosing Cambodia, and expected businesses operating in Cambodia to continue expanding their investment scale.

Meanwhile, the Cambodian People's Party (CPP) website said that VCBA Chairman Oknha Leng Rithy led a VCBA delegation including representatives of 16 companies to meet with Deputy Prime Minister Sun Chanthol.

Leng Rithy pledged to cooperate with the CDC to promote Cambodia's potential in attracting Vietnamese investors to many, especially agriculture, in Cambodia.

The Phnom Penh Post newspaper said that trade turnover between Cambodia and Vietnam is expected to grow as VCBA representatives commit to promoting investment opportunities for Vietnamese investors in Cambodia.

Leng Rithy said the association's members are interested in Cambodia's rapid development, especially the efforts of the new government during the seventh National Assembly tenure. He also affirmed that through effective cooperation with the CDC, the VCBA is committed to enhancing the introduction of Cambodian investment opportunities to more Vietnamese investors.

Phnom Penh Post quoted Leng Rithy as saying that the VCBA will cooperate with the CDC to introduce Cambodia's potential to investors in Vietnam.

Chea Chandara, Chairman of the Logistics and Supply Chain Business Association in Cambodia (LOSCBA), said that as a country that shares borderd and maintains strong diplomatic relations with Vietnam, Cambodia has been witnessing a continuous increase in import-export activities and direct investment capital flows from Vietnam.

He explained that cross-border transportation activities are conducted regularly, in which Cambodia exports a large amount of agricultural products to Vietnam such as rice, rubber, cashew nut, cassava, corn, bananas, mango, and tobacco, and natural resources.

The LOSCBA Chairman assessed that imports from Vietnam are diverse, including food, daily necessities, machinery, electrical equipment, electronic components, chemical fertilisers, and construction materials.

He emphasised that the growth momentum of import and export between the two countries is increasing, and so is the number of Vietnamese investors coming to do business in Cambodia.

Meanwhile, on March 8, the CNC news site reported that Neak Oknha Lim Heng, acting President of the Cambodian Chamber of Commerce (CCC), had a meeting with a VCBA business delegation led by Chairman Leng Rithy. The meeting aimed at establishing even closer relationships with the CCC, as well as other relevant organisations in Cambodia.

At the meeting attended by leaders of large Vietnamese and Cambodian businesses, the two sides agreed to expand cooperation.

The CNC news site said that the presence of many large Vietnamese business leaders in the fields of telecommunications, banking, and aviation, among others, has shown that Vietnamese investors are doing business successfully in Cambodia.

Neak Oknha Lim Heng said that in recent times, the CCC has participated in resolving many difficulties and problems between Vietnamese investors and local relevant agencies. To effectively implement the Border Trade Agreement between the two countries, its leaders proposed that the two sides discuss issues towards establishing the Cambodia-Vietnam Business Council to promptly resolve difficulties and bottlenecks of businesses, as well as people in border areas and the private sector.

The VCBA was licensed by the Ministry of Home Affairs of Cambodia and officially established at the end of January 2024, on the basis of upgrading the Vietnam Business Association in Cambodia which was founded in 2018 with more than 100 member companies./.