Speaking at a recent Investment summit between Cambodia and Vietnam, tycoon Kith Meng, president of the Cambodia Chamber of Commerce, said that last year, two-way trade between the Cambodia and Vietnam increased by 37 percent to more than US$1.8 billion. He added that in the first quarter of this year, trade was over US$600 million and he expected the annualised figure to increase to US$2.5 billion for 2011.
According to Vietnamese data from 2009 to April 2011, Vietnam invested in 87 projects in Cambodia amounting to over US$2 billion, Commerce Minister Prasidh said, that he expects the figure will increase in 2011.
According to Doan Nguyen Duc, Chair-man of the Hoang Anh Gia Lai Group, a diversified group with interests in real estate, hydropower, rubber, and mining, Cambodia has a lot of business potential for Vietnamese investors to consider.
He added there are some comparative advantages such as having many international trade borders, a good relationship between the two governments, good mechanisms to encourage businesses, and low labour costs are the elements that Vietnam investors would consider.
Vietnamese Prime Minister Nguyen Tan Dung said that he would like to encourage more investors to consider business opportunities in Cambodia. Furthermore, he also wants to see the existing Vietnamese investors in Cambodia expand their capital investment to build better economic cooperation.