[Demographic Vietnamization] Vietnam among top investors in Cambodia as bilateral trade grows
Vietnam among top investors in Cambodia as bilateral trade grows
Viet Nam News / The Nation | 10 April 2017
VIETNAM is Cambodia’s third-largest partner and continues to be among the top five investors in this country, with bilateral trade reaching US$3 billion (Bt108 billion) until the end of last year.
Two-way trade turnover between Vietnam and Cambodia reached US$624.1 million in the first two months of the year, up 21.2 per cent compared with the same period last year.
This information was presented by Vietnam’s ambassador to Cambodia Thach Du at a seminar in Cambodia, held by the Vietnamese Embassy with the participation of some 100 Vietnamese firms.
The increasing trade value is considered a positive signal for the two countries amid expectations that the figure will increase to $5 billion in subsequent years.
The traditional friendship, favourable geographical conditions and efforts of the two governments were the foundation for promoting economic, trade and investment cooperation between Vietnam and Cambodia in recent years, Du said.
In addition, Vietnam is always among countries with the highest number of visitors to Cambodia, and vice versa, as Cambodian tourists consider Vietnam their top choice for travel.
The seminar was aimed at helping Vietnam’s enterprises better understand the situation and business opportunities in Cambodia to continue to maintain the leading position in the country. It also provided an opportunity to connect with other businesses investing in Cambodia.
Many representatives of companies attending the seminar, such as the Association of Vietnamese Investors in Cambodia, Vietnam Rubber Group, Metfone, Angkor Milk and Chak Angre Hospital, mentioned the difficulties and obstacles they faced in doing business abroad.
In addition, they proposed some recommendations of the enterprise community on existing issues, such as tax and visa-related issues for Vietnamese workers, to the governments of the two countries.