Cambodian PM Calls for Continued Investment from Vietnam

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Phnom Penh, January 18, 2020 –Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia, appealed here yesterday evening to the Vietnamese businessmen to continue investing in the processing industries in Cambodia, especially in rice processing for export.

 

Addressing to a solidarity dinner with the Vietnamese community and businessmen in Cambodia on the occasion of the Vietnamese Lunar New Year 2020, Samdech Techo Hun Sen said that investing in processing industries will benefit both the Cambodian people and Vietnamese businessmen in the Kingdom.

The two-way trade between the two neighbouring countries have reached US$5.2 billion, the Premier quoted the figure from the Vietnam Business Club in Cambodia.

On behalf of the Royal Government and people of Cambodia, Samdech Techo Hun Sen expressed his congratulations to Vietnam on its rapid development in all domains, in particular the realisation of the Vietnam-EU Free Trade Agreement, which will promote the economic, trade and tourism growth as well as foreign direct investment flow, not only in Vietnam, but also in its neighboring countries, including Cambodia, and those in the region.

The Prime Minister spoke highly of the good cooperation between the two nations, reflecting the good neighbourliness, traditional friendship, and mutual trust, assistance and respect.

Samdech Techo Hun Sen also expressed optimism over the investment sector, stressing that foreign investors, particularly the Vietnamese, will choose Cambodia as a potential investment destination for the early stage of investment or for business expansion in line with the government’s policy on investment and business encouragement without discrimination, but with equal competition and protection of the legitimate rights and interests of investors.

Vietnam has so far invested in 214 projects in Cambodia with a total capital of some US$3 billion. Of the registered projects, 176 of US$2.77 billion are in operation, thus making Vietnam the third biggest foreign investor in the Kingdom.

Vietnam’s investment activities focus mainly on the areas of agriculture, banking, telecommunications, information technology, and processing industries.

By Khan Sophirom