Vietnamese businesses seek foothold in Cambodia

April 05, 2013 | 09:01

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Representatives from about 30 Vietnamese businesses discussed how to work together to continue promoting Vietnamese products in Cambodia at a seminar in Phnom Penh on April 4.

The seminar, co-organised by the Ho Chi Minh City Investment and Trade Promotion Centre and the Bank for Investment and Development of Cambodia, is part of the Vietnam-Cambodia trade and service exhibition (HCM City Expo 2013) that opened in Phnom Penh on April 3.

Addressing the event, Vice Chairwoman of the HCM City People’s Committee Nguyen Thi Hong attributed the development of businesses from Vietnam and HCM City in particular to the effective support of Vietnamese banks in Cambodia.

Once Vietnamese products gain a firm foothold in Cambodia, the banks will offer more suitable credit packages to the businesses, she said.

Five Vietnamese commercial banks have opened branches in Cambodia, which are funding most of the key projects in the country, including the $27 million Cho Ray-Phnom Penh Hospital , a fertiliser factory worth $62 million, and a $80 million electricity-sugar-ethanol factory.

The banks also target projects in rice export, mineral exploration and exploitation, hydropower site survey and rubber tree plantations near the two countries’ shared border.

QĐND

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