Vietnam, Cambodia have substantial potential for cooperation

Thursday, 2016-09-22 21:51:07
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The Vietnam–Cambodia Business Forum was held on September 22 in Cambodia. (Credit: NDO)
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NDO/VNA—Vietnam and Cambodia have substantial potential for cooperation on economics, trade, investment, tourism and other fields, Vietnamese Ambassador to Cambodia Thach Du has said.

Speaking at the Vietnam–Cambodia Business Forum on September 22 in Cambodia, the ambassador said Vietnam was one of Cambodia’s leading economic partners, with two-way trade reaching US$3.4 billion in 2015.

Vietnam was running 182 projects with a total registered capital of US$2.85 billion in Cambodia, he said, adding Vietnam had the largest number of tourists—988,000—to visit the neighbouring country.

The diplomat asked businesses to seriously and fully abide by the regulations and laws of the respective countries.

Chea Vuthy, Vice Secretary General of the Council for Development of Cambodia, briefed the participants on Cambodia’s investment climate and policies, saying the country’s economy was growing 7% annually.

He said Vietnam ranked fifth among countries investing in Cambodia, after China, Japan, the Republic of Korea and Malaysia, with the most noteworthy projects focusing on agriculture and industry, valued at US$958 million.

The official applauded Vietnamese businesses’ contributions to his country’s socioeconomic development as well as economic cooperation between the two countries.

Hor Siv Yong from the Cambodian Ministry of Commerce said Vietnam was Cambodia’s largest trade partner. The two countries aim to raise bilateral trade to US$5 billion in 2017.