Việt Nam - Cambodia trade and investment promotion conference held

 

Prime Minister Nguyễn Xuân Phúc and his visiting Cambodian counterpart Samdech Techo Hun Sen view products displayed at the conference. VNA/VNS Photo 

HÀ NỘI Prime Minister Nguyễn Xuân Phúc and his visiting Cambodian counterpart Samdech Techo Hun Sen co-chaired the Việt Nam – Cambodia trade and investment promotion conference 2019 in Hà Nội on Friday About 500 delegates from ministries, agencies and the two countries’ business communities attended the event. Addressing the conference, PM Phúc welcomed Cambodian investors to Việt Nam and asked local firms to invest responsibly and sustainably in Cambodia. PM Hun Sen called on Vietnamese firms to continue investing in Cambodia in fields such as agriculture, tourism, transportation, logistics, construction, education and technical training. He said the Cambodian government is striving to improve business environment via talks between the government and enterprises, cut business costs and devise new laws on investment and exclusive economic zones. The Cambodian PM spoke highly of the signing of the Việt Nam – European Union free trade agreement and expressed interest in bilateral trade and transportation, saying the Cambodian government is studying measures to promote the construction and connectivity of expressways in the southern economic corridor in the Greater Mekong Sub-region. According to Minister of Planning and Investment Nguyễn Chí Dũng, Việt Nam invested in 178 projects worth nearly US$2.8 billion in Cambodia as of September 2019.

Cambodia ranked third among the 76 countries and territories invested in by Việt Nam. During the period, the total Vietnamese investment in the country was $50.4 million, up 49.5 per cent year-on-year, mostly in agriculture, banking, telecommunications – information technology, manufacturing and processing. Cambodia also poured $63.7 million in 21 projects in Việt Nam in agro-forestry-fisheries, trade, transportation, manufacturing and processing.

Trade between the two countries is forecast to reach $5 billion before 2020, he said. The two leaders signed three memoranda of understanding on trade infrastructure connectivity along border areas, construction and transfer of a model market to Cambodia, and raising two-way trade. A memorandum of understanding on cooperation between the Vietnamese Ministry of Planning and Investment and the Council for Development of Cambodia was also signed. VNS