The title of the article on the homepage of the “Khmer Times” newspaper is “Deputy Prime Minister Sun Chanthol emphasizes Cambodia’s investment potential” published on March 8, 2024. Photo: TTXVN
According to TTXVN correspondent 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 business meetings, trade connections between VCBA enterprises and Cambodian ministries and departments such as the Cambodian Development Council (CDC), the Ministry of Agriculture, Forestry, and Fisheries of Cambodia, the Cambodian Chamber of Commerce… on March 6 and 7 recently.
The articles were published in both Khmer and English versions of the newspapers, mainly focusing on the meeting and working session between the VCBA leadership delegation and Mr. Sun Chanthol, Deputy Prime Minister of the Royal Government of Cambodia and First Vice Chairman of the CDC. Both sides agreed to cooperate in promoting Cambodia’s potential to attract Vietnamese investors to invest in the country.
Reporting on the meeting, an article on the SBM NEWS website stated that during the meeting, Mr. Oknha Leang Rithy, Chairman of the VCBA, pledged to cooperate with the CDC to introduce Cambodia’s potential to Vietnamese investors to attract investment in various fields, especially agriculture.
As the head of the VCBA, Oknha Leang Rithy also expressed his impression of the recognized development of Cambodia, especially the efforts of the new Royal Government, and shared his experience in investing in agriculture in Cambodia, especially the rice and rubber industries.
Regarding CDC’s perspective, the First Vice Chairman of the CDC emphasized the favorable factors of Cambodia for investors, such as a peaceful environment, economic stability, flexible investment laws, and a convenient transportation system via highways and ports. In addition, Mr. Sun Chanthol also expressed his gratitude to the investors who have chosen Cambodia and expects the businesses currently operating in Cambodia to continue expanding their investment scale.
The title of the article on the homepage of the “Nokorwat News Daily” with the title “Deputy Prime Minister Sun Chanthol meets with representatives of 16 members of the Vietnam-Cambodia Business Association (VCBA).” Photo: TTXVN
The Phnom Penh Post quoted Mr. Leng Rithy as saying: “VCBA will cooperate with the CDC to introduce Cambodia’s potential to Vietnamese investors with the aim of attracting them to various fields in Cambodia, especially agriculture.”
Chea Chandara, Chairman of the Supply Chain and Logistics Business Association in Cambodia (LOSCBA), said that as neighboring countries with close border relations and strong diplomatic ties with Vietnam, Cambodia has witnessed continuous growth in import-export activities and direct investment capital from Vietnam. He explained that cross-border transportation activities are conducted regularly, with Cambodia exporting a large amount of agricultural products to Vietnam, such as rice, rubber, cashews, cassava, corn, bananas, mangoes, tobacco, and natural resources.
The Chairman of LOSCBA evaluated imports from Vietnam as diverse with many products, including food, daily necessities, machinery, electrical equipment, electronic components, chemical fertilizers, and building materials. He emphasized that the growth in import-export between the two countries is increasing, and the number of Vietnamese investors doing business in Cambodia is also rising.
Meanwhile, on March 8, CNC news website stated that Mr. Neak Oknha Lim Heng, President of the Cambodian Chamber of Commerce (CCC), had a meeting and working session with a delegation of VCBA enterprises led by Chairman Leng Rithy to establish closer relations with the CCC and other relevant organizations in Cambodia.
The meeting was attended by leaders of large Vietnamese and Cambodian companies. The CCC and VCBA agreed to expand their cooperation. The CNC news website stated that the presence of many leaders of large Vietnamese companies in telecommunications, banking, and aviation sectors shows that Vietnamese investors are successfully doing business in Cambodia.
Mr. Neak Oknha Lim Heng said that in the past, the CCC has participated in removing difficulties and obstacles for Vietnamese investors with relevant Cambodian authorities. To effectively implement the Border Trade Agreement between the two countries, the CCC leadership proposed both sides to exchange discussions, aiming to establish the Cambodia-Vietnam Business Council to promptly resolve difficulties and obstacles faced by businesses and the population in the border and private sectors.
The VCBA was licensed by the Cambodian Ministry of Interior and officially established at the end of January 2024, based on the upgrade of the Vietnam Business Club in Cambodia, which was established in 2018 with over 100 member companies. One of the main objectives of VCBA is to promote Vietnam-Cambodia trade relations, enhance human resources, education, vocational training, and commerce.
