PM encourages stronger investment in Cambodia

November 16, 2010 | 20:31

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PM Nguyen Tan Dung on Tuesday met with representatives of the Association of Vietnamese Investors in Cambodia (AVIC), as part of his official visit to the neighboring country.

PM Nguyen Tan Dung (standing): The Vietnamese Government commits to strong facilitation of Vietnamese enterprises’ investment in Cambodia – Photo: Nhat Bac

PM Dung re-affirmed the Government’s consistent policy to facilitate Vietnamese enterprises’ investments in Cambodia.

Vietnam’s investment there surged 40 per cent annually over the past decade.

The total trade turnover between the two countries has reached nearly $1.2 billion so far this year, of which Vietnam has shipped $1 billion.

In Cambodia, Vietnam has some 60 projects on banking-finance, telecommunication, agriculture, rubber, energy, and mineral resources, with the total investment capital of more than $900 million, becoming the third biggest foreign investor there, said Association’s Chairman Nguyen Bac Ha.

To beef up Vietnamese-run business operations in Cambodia, the Bank for Investment and Development of Vietnam (BIDV) sealed credit deals to finance investment activities.

The Government chief assigned competent agencies to review legal regulations to clear obstacles against investment in Cambodia.

The Vietnamese business community needs to fully observe Cambodia’s laws on the win-win basis, PM Dung stated.

On the occasion, the PM witnessed the ceremony to admit six new members of AVIC.

VGP

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