Vietnamese, Cambodian PMs attend investment forum

Prime Minister Pham Minh Chinh and his Cambodian counterpart Samdech Moha Borvor Thipadei Hun Manet on December 12 attended the Vietnam-Cambodia investment and trade promotion forum within the framework of the latter’s official visit to Vietnam.

Prime Minister Pham Minh Chinh speaking at Vietnam-Cambodia investment and trade promotion forum (Photo: VNA)

Addressing the forum, PM Chinh stressed that ample room remains for Vietnam and Cambodia to boost their economic and trade ties, and called on businesses to continue their investment, contributing to consolidating and enhancing the traditional friendship between the two countries.

He noted that Vietnam has signed 16 free trade agreements with more than 60 countries and territories, and the country aims to attract quality investments and promote a digital economy, green economy, circular economy, and knowledge-based economy.

The leader suggested businesses and the Governments of the two countries strengthen connectivity and complementarity between the two economies, focusing on institutions, finance, transport infrastructure, electricity, telecommunications, and tourism.

He also asked investors and enterprises to speed up the implementation of projects, seriously observe the laws of the two countries, and raise their social responsibility.

Vietnam always creates optimal conditions for them to cooperate and operate, and will work together with them to further perfect institutions and policies, PM Chinh pledged.

Prime Minister Samdech Moha Borvor Thipadei Hun Manet speaking at the event (Photo: VNA)

In his remarks, Hun Manet expressed his belief that following the visit, bilateral relations will grow stronger, including cooperation in investment and services, and trade.

He emphasized that Vietnam's registered investment capital to Cambodia has reached over US$2.91 billion, saying many Vietnamese projects are operating fruitfully, contributing to local socio-economic development.

Vietnam is the second biggest source of tourists to Cambodia, while more than 320,000 Cambodians have come to Vietnam, he said, adding that the Siem Reap International Airport has been inaugurated with the cooperation of airlines, including Vietnam’s Vietjet Air that has launched the Hanoi - Siem Reap direct air route. Therefore, the number of tourists is forecast to increase sharply in the coming time.

He shared PM Chinh’s view that the two countries have huge potential to boost their economic ties as both join such cooperation mechanisms as the Regional Comprehensive Economic Partnership and many of their economic areas are reciprocal.

Prime Minister Samdech Moha Borvor Thipadei Hun Manet (Photo: VNA)

Hun Manet affirmed that the Cambodian Government will make efforts to create more favorable conditions for foreign investors, including those from Vietnam, and called for more Vietnamese investments in Cambodia in the spheres of high-tech agriculture, food processing, digital technology, finance, and car manufacturing.

Vietnamese Minister of Planning and Investment Nguyen Chi Dung reported that Vietnam is among the top five investors in Cambodia with 205 valid projects worth US$2.95 billion, covering agriculture, energy, telecommunications, finance and banking, industrial production and processing, health care, trade, and services.

The official affirmed that Vietnam will continue to coordinate with Cambodia to promote investments in sectors consistent with Cambodia's priorities such as manufacturing and processing, renewable energy, high-tech agriculture, agricultural and aquatic product processing, special economic zone development, and tourism, especially economic cooperation in the border areas of the two countries.

The minister proposed the two countries maintain, consolidate, and enhance collaboration in agriculture, forestry, telecommunications, and banking while stepping up cooperation in others like the production and processing of clean agricultural and forestry products, and expanding high-quality services such as tourism, health care, education, infrastructure, construction, real estate, and others that bring high added values.

At the forum, the two PMs witnessed the handover of investment licenses and cooperation documents, covering aviation, banking, and trade.

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