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VN-Cambodia trade value may reach US$7-8 billion in next two years

22:39 | 06/12/2018

VGP – The two-way trade between Viet Nam and Cambodia is likely to reach US$7-8 billion by 2020 from the current US$5 billion, PM Nguyen Xuan Phuc told delegates to the Viet Nam-Cambodia Business Forum on Thursday.

PM Nguyen Xuan Phuc and his Cambodian counterpart Samdech Techo Hun Sen attend the Viet Nam-Cambodia Business Forum held in Ha Noi on December 6, 2018 on the occasion of the latter’s visit to Viet Nam from December 6-8. Photo: VGP

The event was also attended by visiting Cambodian PM Samdech Techo Hun Sen and representatives of 400 businesses from the two countries..

The Vietnamese Government chief urged the two sides’ businesses to exploit opportunities of the ASEAN Economic Community to which the two countries are members.

He took the occasion to extend thanks to the Government of Cambodia for its support for Vietnamese investors to carry out investment activities in Cambodia.

PM Hun Sen briefed about recent developments in Cambodia, including the deployment of its industrial development strategy for 2015-2020, reform of administrative procedures in such areas like tax and customs, and infrastructure development to enhance transport connectivity with neighboring countries.

Cambodian economy expanded over 7% on average over the past years and is projected to grow around 7.3% this year, said PM Hun Sen, adding that Cambodia’s middle-class is rising.

Vietnamese investors have poured about US$3 billion in 210 projects, focusing on agriculture, banking, telecommunication, industrial production among others, reported the Vietnamese Ministry of Planning and Investment.

Meanwhile, Viet Nam is home to 20 valid projects by Cambodian investors with total registered capital of US$65 million.

By Quang Minh