Cambodian media appreciates the potential to promote investment with Vietnam

Many leading Cambodian newspapers such as SBM NEWS, Phnom Penh Post, CNC, Khmer Times, Nokorwat News Daily highly appreciate Cambodia's potential for cooperation and investment promotion with Vietnamese enterprises.

The article on the homepage of the Khmer Times newspaper with the title “Deputy Prime Minister Sun Chanthol emphasizes Cambodia’s investment potential” was published on March 8, 2024. (Photo: VNA)

On March 7 and 8, Cambodian media agencies continuously published many information topics and images about the activities of the Vietnam-Cambodia Business Association (VCBA) in the area, highly appreciating the potential for cooperation and promoting investment between Cambodia and Vietnamese enterprises.

According to VNA reporters in Phnom Penh, many leading Cambodian newspapers such as SBM NEWS, Phnom Penh Post, CNC, Khmer Times, Nokorwat News Daily... have updated many article topics revolving around working meetings and trade connections between VCBA enterprises and Cambodian ministries and agencies such as the Council for the Development of Cambodia (CDC), the Ministry of Agriculture, Forestry and Fisheries of Cambodia, the Cambodian Chamber of Commerce... on March 6 and 7.

The articles were published in both the Khmer and English versions of the newspapers, mainly focusing on the meeting and working session between the delegation of VCBA business leaders and Mr. Sun Chanthol, Deputy Prime Minister of the Royal Government of Cambodia and First Vice President of CDC, in which the two sides agreed to cooperate in promoting the introduction of Cambodia's potential to attract Vietnamese investors to invest in the country of pagodas.

Reporting on the above meeting, an article on the SBM NEWS website said that at the meeting, Mr. Oknha Leang Rithy, Chairman of VCBA, pledged to cooperate with CDC to introduce Cambodia's potential to investors in Vietnam to attract investment in many fields, especially agriculture .

As the head of VCBA, Oknha Leang Rithy also expressed his impression of Cambodia's remarkable development, especially the efforts of the new Royal Government of Cambodia; and shared his experience in investing and doing business in the agricultural sector in Cambodia, especially in the rice and rubber industries.

For his part, the First Vice President of CDC emphasized Cambodia's favorable factors for investors such as a peaceful environment, economic stability, open investment laws, a convenient infrastructure system for transportation activities on highways and ports..., in the context of the Royal Government of Cambodia's plan to use 70% clean energy by 2030.

In addition, Mr. Sun Chanthol also thanked investors for choosing Cambodia, and hoped that businesses operating in Cambodia will continue to expand their investment scale.

Also reporting on the meeting, the official website of the Cambodian People's Party (CPP) said that VCBA President Oknha Leng Rithy led a VCBA delegation including representatives of 16 companies to meet with Deputy Prime Minister Sun Chanthol.

Mr. Leng Rithy pledged to cooperate with CDC to promote Cambodia's potential in attracting Vietnamese investors to invest in Cambodia in various fields, especially agriculture.

Meanwhile, the Phnom Penh Post reported that trade turnover between Cambodia and Vietnam is expected to grow as VCBA representatives pledged to promote investment opportunities for Vietnamese investors in the Kingdom of Cambodia.

Article on the homepage of the Phnom Penh Post newspaper (screenshot) with the title "Vietnam-Cambodia Business Association promotes investment" published on March 7, 2024. (Photo: VNA)

According to the newspaper, Mr. Leng Rithy said that members of the association are interested in the rapid development of Cambodia, especially the efforts of the new Royal Government during the 7th National Assembly term.

He also affirmed that through effective cooperation with CDC, VCBA is committed to enhancing the introduction of Cambodia's investment opportunities to more Vietnamese investors.

Phnom Penh Post quoted Mr. Leng Rithy as saying: “VCBA will cooperate with CDC to introduce Cambodia’s potential to investors in Vietnam, aiming to attract them to various sectors of Cambodia, especially agriculture.”

Mr. Chea Chandara, President of the Logistics and Supply Chain Business Association in Cambodia (LOSCBA), said that as a country sharing a close border and maintaining strong diplomatic relations with Vietnam, Cambodia has witnessed a constant increase in import-export activities and direct investment flows from Vietnam.

He explained that cross-border transport activities are conducted regularly, with Cambodia exporting a large amount of agricultural products to Vietnam such as rice, rubber, cashew nuts, cassava, corn, bananas, mangoes, tobacco and natural resources.

LOSCBA Chairman assessed that imports from Vietnam are diverse with many products, including food, daily necessities, machinery, electrical equipment, electronic components, chemical fertilizers and construction materials.

He emphasized that the growth of import and export between the two countries is increasing, and the number of Vietnamese investors doing business in Cambodia is also increasing.

Meanwhile, on March 8, CNC news site reported that Mr. Neak Oknha Lim Heng, Acting President of the Cambodian Chamber of Commerce (CCC), met and worked with a business delegation from VCBA led by President Leng Rithy, to establish closer relationships with CCC, as well as other relevant organizations in Cambodia.

At the meeting attended by leaders of large Vietnamese and Cambodian enterprises, CCC and VCBA agreed to expand cooperation.

CNC news site believes that the presence of many leaders of large Vietnamese enterprises in the fields of telecommunications, banking, aviation... shows that Vietnamese investors are doing business successfully in Cambodia.

Mr. Neak Oknha Lim Heng said that in the past time, CCC has participated in resolving many difficulties and problems of Vietnamese investors with local authorities. In order to effectively implement the Border Trade Agreement between the two countries, CCC leaders suggested that the two sides exchange and discuss, aiming to establish a Cambodia-Vietnam Business Council to promptly resolve difficulties and problems of businesses, as well as people in border areas and the private sector.

VCBA was licensed by the Cambodian Ministry of Interior and officially established in late January 2024, on the basis of upgrading from the Vietnam Business Club in Cambodia, which was established in 2018 with more than 100 member companies.

In the purpose of VCBA, one of the main objectives of the association is to promote Vietnam-Cambodia trade relations, enhance human resource development, education, vocational training and trade./.

(Vietnam News Agency/Vietnam+)

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