Vietnamese Businesses in Cambodia Strengthen Ties and Expand Trade
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On January 16, representatives from approximately 50 Vietnamese enterprises and Khmer businesses with Vietnamese origins gathered in Phnom Penh to exchange their experiences in operating and investing in Cambodia while nurturing their connections.
Addressing the event, Vietnamese Ambassador to Cambodia, Nguyễn Huy Tăng, expressed the embassy’s keen interest in understanding the challenges faced by businesses and hearing their proposals. This engagement aims to provide valuable input for relevant authorities in Cambodia and Vietnam, enabling them to explore effective solutions.
Highlighting the progress in Vietnam-Cambodia relations in 2023 and offering insights into the outlook for 2024, First Secretary of the Vietnamese Embassy in Cambodia, Tuan Nguyen Tien, projected that Cambodia’s economy would continue its robust and sustainable growth, emerging as a beacon of economic vitality within ASEAN.
To achieve its goal of attracting over $6 billion in foreign direct investment in 2024, Cambodia is expected to actively seek investments in priority sectors, including agricultural product processing, high technology, industrial production, clean energy, tourism, and infrastructure development.
During the gathering, business leaders proposed several measures to support investment activities in Cambodia. They expressed a desire to establish a network of Vietnamese firms within the country to enhance mutual assistance and collaboration.
Ambassador Nguyễn Huy Tăng commended the efforts of Vietnamese businesses in Cambodia over the years. He expressed optimism that in 2024, these businesses would achieve even greater success in Cambodia, a promising market for foreign investors, especially those from Vietnam.
The diplomat urged the Vietnamese Business Club in Cambodia (VBCC) to expedite the necessary procedures to establish a Vietnam-Cambodia Business Association (VCBA). This association would serve as a pivotal link and support platform for Vietnamese businesses operating in Cambodia.
Additionally, Ambassador Nguyễn Huy Tăng encouraged Vietnamese enterprises to accelerate their digital transformation efforts and strengthen their partnerships for shared growth and prosperity.
VBCC Interim President Oknha Leng Rithy presented the club’s operational plans for 2024, including the procedures for establishing the VCBA. The aim is to provide enhanced support for the business and investment activities of Vietnamese firms operating in Cambodia.
This gathering of Vietnamese businesses in Cambodia signifies their commitment to fostering collaboration and seizing opportunities in a dynamic market. The exchange of experiences and proposals will contribute to the growth and success of these enterprises in Cambodia’s evolving economic landscape.
Source: Khmer Times
