Vietnamese firms in Cambodia foster connections and enhance trade

Representatives from about 50 Vietnamese enterprises and Khmer businesses of Vietnamese-origin share their experiences at their meeting.  VNA/VNS photo

HÀ NỘI – Representatives from about 50 Vietnamese enterprises and Khmer businesses of Vietnamese-origin gathered in Phnom Penh on January 16 to share their experience in operating and investing in Cambodia and foster their connections.

Addressing the event, Vietnamese Ambassador to Cambodia Nguyễn Huy Tăng said the embassy wanted to learn about difficulties that the businesses are facing and listen to their proposals, thus advising authorised agencies in Cambodia and at home to seek measures.

Highlighting the development of the Vietnam-Cambodia relations in 2023 and forecasting the situation in 2024, First Secretary of the Vietnamese Embassy in Cambodia Tuan Nguyen Tien said that continuing the growth trend of 2023, the Cambodian economy is forecast to expand in a fast and sustainable manner, becoming a bright spot in ASEAN.

To fulfil the target of drawing more than USS6 billion in foreign direct investment in 2024, Cambodia is likely to continue to call on foreign firms to invest in prioritised areas such as agricultural product processing, high technology, industrial production, clean energy, tourism and infrastructure construction, he said.

At the event, leaders of the businesses proposed a number of measures to support investment activities in the country. They showed their hope to form a network of Vietnamese firms in the neighbouring country to enhance mutual support.

Ambassador Nguyễn Huy Tăng hailed the efforts of Vietnamese businesses over the years, and expressed his hope that in 2024, they will enjoy more successes in Cambodia, a promising market for foreign investors in general and those from Vietnam in particular.

The diplomat asked the Vietnamese Business Club in Cambodia (VBCC) to promptly finalise procedures to establish a Vietnam-Cambodia Business Association (VCBA) to serve as a connecting point and a support venue for Vietnamese firms in the country.

He also reminded Vietnamese enterprises to speed up digital transformation and strengthen their linkages for common development.

VBCC Interim President Oknha Leng Rithy introduced operation plans of the club in 2024 as well as the procedures to establish the VCBA to give better support to business and investment activities of Vietnamese firms in Cambodia. – VNS