Vietnamese Investors Seek to Expand Investments in Cambodia
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A delegation of Vietnamese investors, led by first deputy secretary Nguyen Duc Phong of the Vietnam Communist Party’s Central Committee for State-Owned Enterprise, recently expressed their interest in expanding investments in Cambodia and sought the government’s support in this endeavor.
During a meeting with Chea Vuthy, deputy secretary-general of the Council for the Development of Cambodia’s Investment Committee, the Vietnamese delegation highlighted the challenges faced by Vietnamese investors operating in Cambodia. They requested facilitation and resolution of these challenges, while also seeking continued support from Cambodia for Vietnamese investments.
In response, Vuthy accepted their request and assured them that the Council for the Development of Cambodia (CDC) would actively work towards resolving the identified issues. He acknowledged the importance of foreign investors’ satisfaction with the investment environment in Cambodia.
Vuthy commended the existing Vietnamese investment in Cambodia and emphasized the need to further strengthen partnerships and expand investment cooperation. He believed that enhancing these aspects would contribute to the efficiency of Vietnamese investments in Cambodia.
During a separate meeting with Prime Minister Hun Manet on October 12, Vietnamese Ambassador to Cambodia Nguyen Huy Tang expressed his appreciation for the overall development of Cambodia and the growing bilateral relations between Cambodia and Vietnam. He assured the Vietnamese government’s commitment to expanding cooperation on various levels, particularly in trade, tourism, defense and security, and exploring new potential areas.
Vietnam stands as Cambodia’s second-largest export market, with Cambodia exporting $2.03 billion worth of products to Vietnam in the first nine months of this year, reflecting a 30.7 percent increase compared to the previous year. Furthermore, in the same period, Cambodia approved fixed asset investment projects worth $73 million by Vietnamese companies, comprising 1.95 percent of the total investment value of $3.76 billion, as reported by the CDC.
The Vietnamese investors’ interest in expanding investments in Cambodia underscores the potential for further collaboration and economic growth between the two countries.
Source: Council for the Development of Cambodia (CDC) report
