The Council for the Development of Cambodia (CDC) alongside the Vietnam-Cambodia Business Association (VCBA) recently engaged in pivotal discussions aimed at enhancing collaborative efforts to spotlight and elevate the agricultural sector within Cambodia, specifically focusing on the rice and rubber industries, to Vietnamese investors. The overarching goal is to draw in increased investments to nurture the growth of the agribusiness sector.
On a recent Wednesday, a meeting took place between Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the CDC, and a delegation from 16 Vietnamese enterprises, spearheaded by Leng Rithy, President of VCBA. The discussions centered on amplifying the flow of Vietnamese investments into Cambodia’s agriculture, underscoring a mutual interest in sectoral growth.
Chanthol highlighted the Royal Government of Cambodia’s (RGC) continuous efforts in ensuring national peace and economic stability, coupled with the formulation of an investor-friendly legislative framework and infrastructural enhancements. These infrastructural developments span expressways, logistic ports, an interconnected road network, and railway improvements, all designed to streamline the transportation of goods and services.
A significant emphasis was placed on environmental sustainability and cost-effectiveness in transportation, with the Deputy Prime Minister revealing plans for Cambodia to transition to 70 percent clean energy usage by 2030.
Rithy, reflecting on Cambodia’s significant strides in development, lauded the RGC’s initiatives, particularly in the agriculture domain where he has personally experienced investment success. The VCBA President assured a fortified partnership with the CDC to magnetize further Vietnamese investment into Cambodia’s promising sectors, thereby fostering agribusiness growth.
Concurrently, the CDC and the Ministry of Economy and Finance (MEF) orchestrated an inspection mission to the special economic zone (SEZ) in Bavet, a critical trade hub on the Cambodia-Vietnam border. This visit, led by Phan Phalla, Secretary of State of MEF, aimed to assess the SEZ’s development and operational dynamics, highlighting the RGC’s dedication to enhancing cross-border trade connectivity.
The MEF’s outreach extended to Vietnam and Thailand, aiming to assimilate developmental insights and refine investment attraction strategies for the betterment of Cambodia’s key industries.
During the 2024 Inter-Regional Business Forum in Malaysia, Erick Aponte, ASEAN Trade Commissioner for the Peru Export and Tourism Promotion Board, underscored the risks associated with mono-market exports, advocating for diversified market access to ensure stable pricing and market share for Cambodian farmers and producers. This dialogue reaffirms Cambodia’s evolving status in the global agricultural export landscape, opening avenues for enhanced international trade relations.
