Business

Vietnamese goods succeed in Cambodian market

Vietnamese goods have won favour in the Cambodian market for their quality and reasonable prices, said Phan Van Chinh, Director of the Import-Export Department under the Ministry of Industry and Trade.
Vietnamese goods have won favour in the Cambodian market for theirquality and reasonable prices, said Phan Van Chinh, Director of theImport-Export Department under the Ministry of Industry and Trade.

Hefurther said that 2012 is expected to open up many opportunities forVietnamese enterprises to boost exports as the Cambodian economy isrecovering quickly and the investment environment is more favourable.

In2011, Vietnam was among Cambodia ’s leading trade partners, with 2.4billion USD exports to Cambodia , up 53 percent. Two-way tradeturnover between the two countries reached 2.8 billion USD.

Vietnam also led other ASEAN nations investing in Cambodia in 2011,with 631 million USD out of the total of 880 million USD from the bloc,according to statistics of the Cambodian Development Council (CDC).

Vietnam has 50 projects in the neibouring country, focusing onrubber plantations and processing, telecoms, tourism, garment andmining.

Many Vietnamese banks have opened branches inCambodia , effectively supporting Vietnamese investors in this country.They are Agribank, BIDV, Sacombank , MB bank and SHB bank./.
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