Business

Vietnam, Cambodia team up to supercharge economic ties

Vietnamese investors ranked among the top five foreign capital sources in Cambodia during the first nine months of 2025.

Vietnamese Ambassador to Cambodia Nguyen Minh Vu (L) and Cambodian Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia Sun Chanthol (Photo: VNA)
Vietnamese Ambassador to Cambodia Nguyen Minh Vu (L) and Cambodian Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia Sun Chanthol (Photo: VNA)

Phnom Penh (VNA) – Vietnamese Ambassador to Cambodia Nguyen Minh Vu held a working session with Cambodian Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC) Sun Chanthol in Phnom Penh on October 2 to bolster economic and investment ties.

Vu highlighted Cambodia’s status as one of the earliest destinations for Vietnam’s overseas investments, noting that Vietnamese firms have poured nearly 3 billion USD into over 200 projects, or about 12% of Vietnam’s total outward investment. Roughly 75% of that capital is concentrated in Cambodia’s agriculture sector.

Back in April, the Vietnamese Embassy in Cambodia hosted a dialogue with over 150 Vietnamese companies. However, Vu acknowledged a slowdown in investments over the past 5-10 years, with the notable exception of a major project by Truong Hai Group (THACO).

To reverse this trend, he urged both countries to ramp up investment promotion and hold regular dialogue forums between Vietnamese businesses and the CDC. These efforts would help firms navigate Cambodia’s investment incentives and address regulatory and operational hurdles.

He also proposed maintaining annual dialogues in line with a memorandum of understanding on cooperation signed between the two countries.

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Delegates at the working session (Photo: VNA)

Chanthol, in reply, reiterated Cambodia’s commitment to improving business environment and facilitating foreign capital inflows despite existing challenges. He also expressed hope that Vietnam and Cambodia would soon connect the Phnom Penh - Bavet expressway with the Ho Chi Minh City–Tay Ninh expressway to enhance regional connectivity.

He further called for the facilitation of cross-border movement of people and vehicles between the two countries to boost trade, investment, and economic development in border regions, for the sake of mutual benefits and traditional friendship.

According to CDC data released on October 2, the CDC’s Cambodian Investment Board approved 546 investment projects valued at about 7.8 billion USD, a 73% jump in project number and a 47% spike in registered capital compared to 2024. In September alone, 55 projects valued at 467 million USD were greenlit, with 38 outside special economic zones and 17 within them.

Vietnamese investors ranked among the top five foreign capital sources in Cambodia during the first nine months of 2025./.

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