The Vietnam National Coal-Mineral Industries Group (Vinacomin) and Cambodia’s Mong Reththy Company on June 18 launched a largest building material company named VINACOMIN-RETHTHY (VRC) in Preah Sihanouk province.
Initially, VRC will be invested more than US$4.5 million and equipped with modern production lines. The company is expected to produce a quarter of Cambodia’s total refined bricks and generate about 200 to 250 jobs for local people.
Speaking at the launch ceremony, Le Duong Quang, Deputy Minister of Industry and Trade, expressed his gratitude for the great support from the Cambodian government to implement the project.
Mr Quang, who is also Chairman of the Vinacomin Management Board praised the two partners’ efforts to put the VRC into operation ahead of schedule to meet the ever increasing demand for building materials in the country.
The Deputy Minister considered the project a new sign for the growing investment ties between the two countries and pledged that Vinacomin will continue to work closely with its partner to further implement other mineral exploration and exploitation projects.
For his part, the Cambodian Deputy Prime Minister and also Minister of Economy and Finance, Keat Chhon, hailed Vietnam as the largest investor in Cambodia with a total amount of more than US$900 million in 2009.
He said the project is the symbol of the growing relations between Vietnam and Cambodia.
VRC is the fourth Vinacomin invested project since its first operation in Cambodia four years ago./.