The third Vietnam-Cambodia investment cooperation conference was held in the southern province of Kien Giang under the co-chair of prime minister Nguyen Tan Dung and his Cambodian counterpart, Hun Sen.
The conference was part of activities in the Vietnam-Cambodia Friendship Year 2012 and celebrations of the 45th anniversary of the two countries’ diplomatic ties.
Addressing the event, prime minister Nguyen Tan Dung expressed his pleasure at developments in Vietnam-Cambodia cooperation, especially in economics, trade, investment and tourism.
The Vietnamese government has taken measures to facilitate operations of businesses in Vietnam, he said, adding that Vietnam wants the Cambodian government and ministries to create further conditions for Vietnamese firms investing and operating in Cambodia.
He suggested both sides continue maintaining regular dialogue mechanisms between the two governments’ agencies in order to timely ease difficulties and obstacles for their businesses and increase investment and business activities, alongside accelerating investment promotion to help firms seek partners and expand business.
The Vietnamese government, ministries, agencies and localities welcome and create favourable conditions for Cambodian companies to invest and do business in Vietnam as well as facilitate Vietnamese firms’ investment in Cambodia, PM Dung affirmed.
For his part, Cambodian prime minister Hun Sen stressed the significance of the conference, saying he hopes it will contribute more to seeking new opportunities in increasing and expanding economic-trade cooperation between the two countries.
He briefed on Cambodia’s economic policies, including tSTC on foreign investment attraction, and affirmed that the Cambodian government will unceasingly build better investment climate.
Cambodia welcomes and encourages Vietnamese investors in particular and foreign investors in general to Cambodia for long-term cooperation, he said.
At the conference, leaders of ministries and agencies discussed with representatives of businesses on latest mechanisms and policies in attracting and managing foreign investment as well as incentives for foreign investment offered by the Cambodian government. They also introduced Vietnam ‘s policies to promote Vietnamese investment in Cambodia.
The two government leaders witnessed the signing of a protocol to amend and supplement the 2001 Agreement on Investment Encouragement and Protection between Vietnam and Cambodia, creating a new legal basis for stepping up cooperation and investment between the two countries in the near future.
According to statistics released by the Ministry of Planning and Investment, Vietnam is operating 112 project, capitalised at over 2.36 billion USD in Cambodia.
Two-way trade increased sharply from 1.2 billion USD in 2007 to 2.8 billion USD in 2011. Both countries are targeting to raise their trade value to 5 billion USD in the next five years.