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Friday, February 3, 2023

Vietnam, Cambodia bolster investment, trade

By Huynh Kim

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CAN THO – Vietnam and Cambodia have sought to strengthen their bilateral cooperation in trade and investment, particularly with potential projects in the Mekong Delta city of Can Tho.

The information was given during a Vietnam-Cambodia trade and investment cooperation conference in Can Tho City yesterday, December 9. 

Cambodian General Consul to HCMC Sok Dareth said many Cambodian companies have prioritized joining hands with their Vietnamese peers in supply chains, mainly those based in Can Tho City.

The city is an important connection hub of the Mekong Delta due to its port, international airport and inland water transportation infrastructure.

Still, there are currently no Cambodian investments in the city, while only one Can Tho business has invested in Cambodia, according to Nguyen Thuc Hien, vice chairman of the Can Tho People’s Committee.

Consul General Sok Dareth noted that as construction continues on the international airports in Phnom Penh and Siem Reap, Cambodia intends to increase cooperation with Vietnam by improving air travel to Can Tho City and other parts of the country.

Between January and September, Can Tho city saw US$37 million in exports to Cambodia and spent some US$530,000 on imports.

Two-way trade between Vietnam and Cambodia amounted to US$9 billion last year. The figure is expected to exceed US$10 billion this year.

As of September 20, Vietnam had attracted 27 investment projects worth US$70 million from Cambodia. 

In turn, the country is the fourth largest investor in Cambodia, with investments covering several sectors, namely agriculture, telecommunications and banking.

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