Vietnam, Cambodia promote trade, investment activities

The Investment and Trade Promotion Center of Ho Chi Minh City this morning hosted a seminar on investment promotion between Vietnam and Cambodia in 2024 with the participation of more than 70 enterprises from various fields.

At the seminar, the leader of the Council for the Development of Cambodia (CDC) presented the policies to attract investors to Cambodia.

Of which, the CDC’s leader stressed a set of investment support tools, especially strategies to attract private sector investment, such as government-investor forums, customs-investor cooperation mechanisms and bilateral cooperation mechanisms between Vietnam and Cambodia and so on.

Thanks to a 1,258-kilometer-long land border together with ten pairs of border gates between Vietnam and Cambodia, the trade activities between the two countries have been developing.

In the first quarter of 2024, the export turnover of Cambodia to Vietnam reached US$1.39 billion, up 53 percent over the same period last year. Meanwhile, the import turnover of Vietnamese goods to Cambodia gained US$0.933 billion, down 2.5 percent over the same period of 2023.

Regarding investment, Vietnam has had a total number of 206 valid investment projects in Cambodia with a total registered capital of around US$2.95 billion, becoming the biggest investor of Cambodia in ASEAN and the top five countries having FDI projects in Cambodia.

Accordingly, Vietnamese investments in Cambodia have mostly focused on fields of agriculture, finance, banking, insurance, telecommunications; contributing to socio-economic development, enhancing people's lives, increasing budget revenue, promoting infrastructure development and creating jobs for dozens of thousands of Cambodian laborers.

At the current time, Cambodia has 31 investment projects in Vietnam with a total registered capital of US$73 million, ranking 51st among the top countries and territories having investment in Vietnam.

Source: Sai Gon Giai Phong News