Vietnamese Business Club in Cambodia debuts at the event (Photo: VNA)

Hanoi (VNA) – The Vietnamese Business Club in Cambodia (VBCC) made its debut at a ceremony in Phnom Penh on August 28.

The ceremony, which gathered 100 Vietnamese firms in the country, saw the attendance of Vietnamese Ambassador to Cambodia Vu Quang Minh and deputy head of the State Committee for Overseas Vietnamese Affairs Luong Thanh Nghi.

Nguyen Thanh Dung, Director of the Vietnam Bank for Agriculture and Rural Development (Agribank)’s Cambodia branch and head of the club, delivered a speech at the vent.

Dung stated the club aims at mobilising maximum resources from and promoting strengths of its members, while creating an environment for them to access information, share experience, support one another and contact the embassy.

Ambassador Minh praised the role of the Vietnamese business community in Cambodia and attributed the establishment of the club to tireless efforts of the community in a bid to increase their position in the host country.

The diplomat said he expects the cooperation mechanism will help the community thrive, thus contributing to Cambodia’s prosperity and to strengthening Vietnam – Cambodia solidary and collaboration.

The VBCC is designed to operate following Vietnamese and Cambodian laws based on the principles of voluntary participation, equality, transparency, and financial autonomy. It executive board includes one honorary chairman, one chairman, three vice chairmen, three professional sub-committees, and an advisory committee.

Currently, there are 200 Vietnamese enterprises investing a total of more than 3 billion USD in Cambodia. The investment mostly focuses on agriculture, telecommunication, finance-banking, aviation, logistic, healthcare, and education.

A number of Vietnamese firms have grown to the leading position of their sectors in the host nation like the Vietnam Rubber Group, Metphone, Vietnam Airlines, Chak Angre hospital, Angkok Milk, Agribank, Sacombank and MB bank.

Despite advantages brought from favourable policies issued by the two governments, these firms still face various difficulties regarding capital sources, taxation, administrative procedures, and market information.

Therefore, the birth of organisations like the VBCC, the Association of Vietnamese Investors in Cambodia, and the Khmer – Vietnam entrepreneur association under the Khmer – Vietnam association will help facilitate their operation.-VNA