Vietnam-Cambodia economic partnership can grow more strongly: diplomat

Phnom Penh (VNA) – Vietnam and Cambodia have reaped impressive results in economic cooperation, which still has much room to flourish even more, Vietnamese Ambassador to Cambodia Thach Du said.

He made the remark in the opening speech of a forum in Phnom Penh on May 19 that gathered some 100 representatives of Vietnamese businesses operating in Cambodia.

He said the traditional friendship, close proximity and optimum conditions provided by the two Governments have facilitated trade and investment partnerships between the neighbouring countries in recent years.

The ambassador said the forum was to review Vietnamese investments in Cambodia, and update Vietnamese enterprises about the local Government’s new support policies for foreign companies. The businesses could also raise their voice to ask the two Governments for better conditions for their investment and business activities in Cambodia.

Youn Heng, Director of the Investment Project Evaluation and Incentives under the Council for the Development of Cambodia (CDC), spoke highly of Vietnamese enterprises’ contributions to local development.

He also gave the latest information about his country’s investment policy such as business licence granting procedures, the Law on Investment, and the organisation of the CDC.

Nguyen Bao, head of Vietnam’s Trade Office in Cambodia, reported that Vietnamese firms have had 183 investment projects totaling 2.85 billion USD in Cambodia so far. Vietnam remains among the top five foreign investors in its neighbour.

Meanwhile, bilateral trade reached 3.37 billion USD in 2015, and the two sides are striving to record 5 billion USD in trade revenue in the near future.

Vietnam is currently the third biggest trade partner of Cambodia. It has had the largest number of tourists to Cambodia in recent years. Meanwhile, Vietnam is also a favourite foreign holiday destinations of Cambodians, Bao noted.-VNA