A forum aiming to improve the integration of Vietnamese businesses into the Cambodian economy and society was held in Ho Chi Minh City on September 25.
Speaking at the event, Cambodian Commercial Counsellor to Vietnam Yev Kim Hean said that the multi-faceted cooperation between Vietnam and Cambodia has been continuously developing over recent years.
At present, more than 100 Vietnamese companies are operating in Cambodia, including major players such as the Vietnam Rubber Group, Vietnam Airlines, Electricity of Vietnam (EVN) and the Bank for Investment and Development of Vietnam (BIDV).
According to the Ministry of Planning and Investment, Vietnam’s investment in Cambodia is still humble with 39 projects capitalised at over 211 million USD by February 2009. The projects mainly focus on the agro-forestry sector, with 11 projects worth nearly 116 million USD, followed by services with 15 projects valued at 59.5 million USD and the industrial sector with 13 projects worth 35.8 million USD.
However, a major breakthrough was recorded during a discussion between Cambodian ministries and Vietnamese investors last month when the two sides signed a large number of contracts representing a total in investment capital of 462 million USD.
According to experts, in order to improve their integration into Cambodia, Vietnamese businesses should be updated with information on Cambodia’s political and economic situation as well as socio-economic policies. They should be also provided with capital support, tax preferences and labour training.
The Cambodian government needs to have policies to facilitate investment by foreign enterprises, especially those from Vietnam, they said./.
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