Vietnamese goods succeed in Cambodian market

February 15, 2012 | 08:18

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Vietnamese goods have won favour in the Cambodian market for their quality and reasonable prices, said Phan Van Chinh, Director of the Import-Export Department under the Ministry of Industry and Trade.

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He further said that 2012 is expected to open up many opportunities for Vietnamese enterprises to boost exports as the Cambodian economy is recovering quickly and the investment environment is more favourable.

In 2011, Vietnam was among Cambodia ’s leading trade partners, with $2.4 billion exports to Cambodia , up 53 per cent. Two-way trade turnover between the two countries reached $2.8 billion.

Vietnam also led other ASEAN nations investing in Cambodia in 2011, with $631 million out of the total of $880 million from the bloc, according to statistics of the Cambodian Development Council (CDC).

Vietnam has 50 projects in the neibouring country, focusing on rubber plantations and processing, telecoms, tourism, garment and mining.

Many Vietnamese banks have opened branches in Cambodia , effectively supporting Vietnamese investors in this country. They are Agribank, BIDV, Sacombank , MB bank and SHB bank.

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