Prime Minister Nguyen Tan Dung and his Cambodian counterpart on Sunday co-chaired the 3rd Vietnam-Cambodia Investment Promotion Conference in Ha Tien town of the Southern province of Kien Giang.
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Prime Minister Nguyen Tan Dung and his Cambodian counterpart Hun Sen witness the signing ceremony of the Protocol amending the 2001 Agreement on Investment Encouragement and Protection – Photo: VGP
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The conference is part of a series of activities during the Vietnam-Cambodia Friendship Year to celebrate the 45thanniversary of diplomatic ties.
This is good chance for the two countries to evaluate the progress of the bilateral cooperation since the previous conference which took place in Phnom Penh, Cambodia last year. It also provides a good opportunity for the two sides to discuss measures to beef up cooperation in economics, trade, investment, tourism in the future.
Addressing the event, Prime Minister Dung noted the bilateral ties have been flourishing in various fields, bringing practical benefits to people in both countries.
The two-way trade increased sharply to US$2.8 billion in 2011 from US$1.2 billion. The figure reached nearly US$1.5 billion in the first five months of 2012. Vietnamese enterprises have over 110 investment projects in Cambodia with total registered capital of US$2.4 billion.
Prime Minister Dung, however, said the potential has not been fully tapped. He urged the two countries to further grasp opportunities for enhanced cooperation.
The Vietnamese Government chief also asked the competent agencies of the two sides to create favorable conditions for quick deployment of licensed projects, particularly in the field of rubber plantation and processing.
Both countries need to maintain regular dialogue mechanism between Governmental bodies to timely remove difficulties against investment activities and push up investment promotion activities.
Meanwhile, Cambodian Prime Minister Hun Sen expressed his belief that this year’s conference would create new opportunities to consolidate and expand trade and economic linkages between the two countries.
Cambodiawelcomes Vietnamese investors to pour investment in the country, affirmed Prime Minister Hun Sen, adding that the Cambodian Government pledges to continue improving its business environment.
On the occasion, the two Prime Ministers witnessed the signing ceremony of the Protocol amending the Agreement on Investment Encouragement and Protection signed in 2001.