Forum promotes Vietnam – Cambodia trade and investment cooperation

09:21 | 11/07/2019 Vietnam - Asean

The 2019 Vietnam – Cambodia Trade and Investment Promotion Forum was held on July 9 in the Cambodian capital of Phnom Penh.

At the forum - Photo: NDO

The event was organized by the Vietnamese Ministry of Industry and Trade and Vietnamese Embassy in Cambodia, in collaboration with the Ministry of Commerce of Cambodia and the Vietnamese Enterprises Club in Cambodia.

The event featured the participation of over 200 representatives from numerous ministries, agencies, localities and businesses from the two countries.

Speaking at the forum, Vietnamese Ambassador to Cambodia Vu Quang Minh said that since the beginning of this year, the ministries and localities from the two countries have coordinated together to promote many important cooperation activities across all fields.

The economic and trade relations between Vietnam and Cambodia have seen strong development with trade turnover of over US$4.7 billion in 2018, a year-on-year increase of 23.8%, added the Ambassador.

The bilateral trade turnover between the two nations was over US$2.3 billion in the first five months of this year and is expected to reach US$5 billion by the end of year, as per the commitment of the two sides’ senior leaders.

In terms of investment, Vietnam is among the five countries with the most foreign direct investment in Cambodia, with 214 registered projects worth a total of nearly US$3.1 billion.

Over the past years, Vietnam has continuously been one of the leading countries in the number of visitors to Cambodia, with nearly 900,000 last year.

At the forum, many enterprises made proposals to the Governments of the two countries to develop mechanisms and policies to remove difficulties in their investment and business activities.

Theo NDO