The Conference on Vietnam’s Investment Promotion in Cambodia, co-chaired by Vietnamese PM Nguyen Tan Dung and Cambodian PM Samdech Hun Sen, was organized on Saturday in Ho Chi Minh City.
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Vietnamese PM Nguyen Tan Dung (3rd from right) and Cambodian PM Samdech Hun Sen (3rd from left) co-chair the Conference on Vietnam’s Investment Promotion in Cambodia, Ho Chí Minh City, Vietnam,, December 26, 2009
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The conference, attracting nearly 600 business participants, is supposed to be the springboard for regular exchanges between the Cambodian Development Council, Vietnamese Ministry of Planning and Investment, and the business communities of the two countries.
Both Vietnamese and Cambodian PMs hailed the organization of this event, describing it a practical move to enhance the bilateral investment and trade ties between the two countries.
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PM Nguyen Tan Dung confirms at the Conference on Viietnam’s Investment Promotion in Cambodia that the Government of Vietnam is offering all favorable conditions for Vietnamese investors to do business in Cambodia , Ho Chi Minh City, Vietnam, December 26, 2009
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PM Nguyen Tan Dung asserted that Vietnam and Cambodia share great potentials and advantages for closer and more effective cooperation.
Cambodia has a high demand for cooperation in processing industry, electricity development, aviation, telecommunications and mining.
Meanwhile, Vietnam boasts for its powerful contingent of about 460,000 enterprises, including those with strengths in terms of market, finance and labor force.
So far, the two countries have signed over 60 legal documents on bilateral cooperation. Their two-way trade over has increased by 40% per year on average and may reach US $2 billion next year.
Currently being one of three biggest investors in Cambodia, Vietnam is trying to raise its direct investment capital in the neighbor to US $6 billion soon.
In the coming time, suggested PM Dung, the two sides should perfect the legal framework in favor of stronger investment and trade activities.
He required Vietnamese investors to strictly observe Cambodia’s laws and customs as well as to pay attention to social security and poverty reduction while doing business there.
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Cambodian PM Samdech Hun Senaffirms Cambodia’s strong commitment to guaranteeing best investment conditions for Vietnamese enterprises, Conference on Vietnam’s Investment Promotion in Cambodia, Ho Chi Minh City, Viet Nam, December 26, 2009
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For his part, Cambodian PM Samdech Hun Sen confirmed his government’s strong commitment to the best investment environment for Vietnamese enterprises.
At the conference, in the witness of the two PMs, representatives of the two countries’ ministries and agencies inked documents on cooperation, worth of US $6 billion in total.
On the occasion, the Association of Vietnamese Investors in Cambodia was founded.
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General Director of the Vietnam National Coal-Mineral Industries Group Tran Xuan Hoa (L) receives an investment license from the Government of Cambodia, Ho Chi Minh City, Vietnam, December 26, 2009
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Earlier, during the topical conference on Vietnam’s investment in Cambodia on Friday, representatives of ministries of the two countries shared opinions with enterprises about Cambodia’s strategies, mechanisms and policies to draw foreign investment as well as incentives for Vietnamese investors./.