INDUSTRIES

Vietnamese firms in Cambodia foster connections

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 and infrastructure construction.

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Overview of the meeting. — VNA/

Theo Vietnamnews

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PHNOM PENH — Representatives from about 50 Vietnamese enterprises and Khmer businesses of Vietnamese-origin gathered in Phnom Penh on Tuesday to share their experiences about operating and investing in Cambodia as well as fostering connections.

Addressing the event, Vietnamese Ambassador to Cambodia Nguyễn Huy Tăng said the embassy wanted to learn about difficulties that businesses are facing and listen to proposals, passing comments on to authorised agencies in Cambodia and at home.

Highlighting the development of the Việt Nam-Cambodia relations in 2023 and forecasting the situation in 2024, First Secretary of the Vietnamese Embassy in Cambodia Tuấn Nguyên Tiến 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 $6 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 Việt Nam in particular.

The diplomat asked the Vietnamese Business Club in Cambodia (VBCC) to promptly complete 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.

Theo Vietnamnews