Conference discusses support for Vietnamese businesses in Cambodia in removing difficulties

Speaking at the meeting, Vietnamese Ambassador to Cambodia Nguyen Huy Tang said that although the year 2022 saw challenges, Vietnamese businesses continued to “stand firm” and overcame challenges, making an important contribution to promoting economic relations between Vietnam and Cambodia.

The Ambassador expressed his belief that in 2023, with the COVID-19 pandemic under control, Cambodia will continue to reopen strongly and focus on restoring and developing the country, which pave the way for Vietnamese investors in the country to gain successes in their business and investment.

At the conference, units under the Embassy and the Vietnam Business Club in Cambodia (VBCC) provided the latest information on Cambodia’s economic development, its investment attraction policies, Vietnam-Cambodia cooperation as well as Cambodia’s latest policies in taxes, labour code, investment policies for Vietnamese businesses.

Representatives of Vietnamese businesses raised problems they face when investing and doing business in Cambodia, calling on competent authorities of the two countries to help them to solve the problems.

Ambassador Tang affirmed that the embassy will collect the recommendations and proposals of businesses and submit them to the 20th Vietnam-Cambodia Joint Committee Meeting and the 12th Conference on Cooperation and Development of Border Provinces between the two countries in 2023 for consideration and settlement.

In 2022, Vietnam-Cambodia bilateral trade turnover increased by nearly 11% to 10.58 billion USD.

Regarding investment, in 2022, Vietnam had 12 new investment projects in Cambodia with a total registered capital of 7 million USD, while 23 million USD was added to existing projects.

As of the end of 2022, Vietnam had 205 valid investment projects in Cambodia with a total registered capital of 2.94 billion USD, making the country the fifth largest foreign investor and the largest ASEAN investor in Cambodia.