PM Lauds Potential of Vietnam-Cambodia Trade at Conference

Cambodia and Vietnam signed agreements Saturday that will bring $6 billion worth of investment into Cambodia, according to Prime Minister Hun Sen and media reports.

During a Vietnamese investor’s conference in Ho Chi Minh City, Cam­bodia and Vietnam agreed to strengthen cooperation in four sectors—commerce, tourism, energy and transportation—Mr Hun Sen announced yesterday in a speech.

“We have the ambition and commitment to keep developing the in­vestment atmosphere in Cam­bodia in order to promote it as the best in the region,” he said, adding that the passing of the investment law and the recent Council of Ministers ap­proval of the anticorruption draft law, as well as Cambodia’s natural re­sources, showed that the country was ready for more investment.

He added that some of the ag­reed upon investment plans are already in progress in various industries such as agriculture, finance, energy and transportation.

State-run media Voice of Viet­nam reported on Saturday that the agree­ments between the two countries totaled $6 billion and will focus on power, food processing, fertilizer production, rubber plantations and health care sectors.

Mr Hun Sen said yesterday that the amount of investment between the two countries could already have exceeded $2 billion dollars.

On Wednesday, it was ann­ounc­ed that the government provided licenses to a Vietnamese com­pany to ex­plore the Mond­olkiri province for bauxite mining opportunities.

“In the next moment, we will have the signing ceremony on the notice supporting the project be­tween Cambodia’s Ministry of Industry and Vietnam’s Ministry of Commerce and Industry to start the operation be­tween our countries in this new sector,” the premier said of the mining operation.

He also talked about the ag­ree­ment to create a Vietnamese in­­vestment group. “I would like to wel­­come the creation of the Viet­nam­ese Investment Ass­ociation in Cam­bodia,” he said.

Ministry of Foreign Affairs spokes­man Koy Kuong said yesterday by telephone that he had no information on the announced agreements.

“In the schedule, Samdech plan­ned to spend one day in Viet­nam,” he said before referring questions to officials at the Council for the Dev­elopment of Cambodia and the Ministry of Finance and Economy, who could not be reached.

Vietnamese Embassy spokesman Trinh Ba Cam could also not be reached for comment yesterday.




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