The Association of Vietnamese Investors in Cambodia (AVIC) will strive to bring the country’s investment in Cambodia to 4.2 billion USD and two-way trade to 5 billion USD by 2015.

The targets were set up at a meeting held in Phnom Penh on March 19, discussing how to further enhance the business and investment activities of Vietnamese enterprises operating in Cambodia.

The AVIC also set the objective of bringing the number of Vietnamese tourists to Cambodia to 1.6 million by 2015.

The investors decided to boost investment in the spheres of agriculture, energy, aviation, banking-finance, health and infrastructure in the next two years.

At the meeting, Vietnamese Ambassador to Cambodia Ngo Anh Dung said besides economic benefits, Vietnamese businesses’ investment has contributed to local social welfare and helped reinforce the friendship, solidarity and traditional collaboration between the two countries.

Dung said the AVIC needs to bring into full play its role in coordinating and bringing Vietnamese investors together to actively participate in social welfare programmes, which helps raise their position in Cambodia.

By the end of 2013, Vietnam became Cambodia’s third largest trade partner and fifth biggest foreign investor, with 128 projects in the country with registered investment totalling over 3 billion USD.

The Vietnamese business community in Cambodia has also participated actively in various activities aimed to reduce the number of Cambodian people living in poverty and upgrade local facilities. Last year, the community donated 5 million USD to Cambodia’s social activities.-VNA