(MPI) - Speaking at the Vietnam-Cambodia Investment and Trade Promotion Forum 2023 held in Hanoi on December 12, Minister of Planning and Investment Nguyen Chi Dung believed that with a mutually beneficial cooperation principle, new business thinking and breakthrough solutions, the investment cooperation relationship between Vietnam and Cambodia will continue to grow strongly, contributing to building and reinforcing the traditional, good, and friendly relationship between the two countries.

Minister of Planning and Investment Nguyen Chi Dung speaks at the forum. Photo: MPI

Minister Dung stated that since the official establishment of diplomatic relations 56 years ago (1967), Vietnam and Cambodia have continuously built, nurtured, and developed a good neighbourly relationship, traditional friendship, and comprehensive cooperation in all fields, with investment cooperation being one of the priority areas that have yielded many positive results.

In terms of investment, Cambodia is one of the earliest and largest foreign investment destinations for Vietnam. Currently, there are over 200 projects worth about 3 billion USD by Vietnamese enterprises in Cambodia, presenting in most sectors with focus on agriculture, energy, telecommunications, finance, banking, industrial manufacturing, healthcare, commerce and services.

Cambodia is the second-largest destination among the 80 countries and territories Vietnam investing abroad. Vietnam has always maintained a leading position in ASEAN and among the top five largest foreign investors in Cambodia.

Currently, many Vietnamese enterprises have effectively and successfully invested and operated in Cambodia, contributing to economic development, implementing good social security activities, creating jobs, contributing to human resource training, improving infrastructure in some localities, which are recognized by the Cambodian government, ministries, and localities.

Vietnamese Prime Minister Pham Minh Chinh, Cambodian Prime Minister Hun Manet and Minister of Planning and Investment Nguyen Chi Dung witness the exchange of documents. Photo: MPI

Speaking at the forum, Cambodian Prime Minister Hun Manet emphasised that after 56 years of establishment, the Vietnam-Cambodia diplomatic relationship has been continuously nurtured and developed in all fields, being "good neighbors, traditional friends, comprehensive cooperation, sustainable and long-term."

The Cambodian PM called for Cambodian and Vietnamese investors to further strengthen cooperation in the field of investment and business, through organizing forums and investment promotion seminars. He also encouraged Cambodian investors to consider investing in Vietnam to diversify their business activities into their production supply chains, as well as business exchanges with Vietnamese investors, thereby, complementing and learning from each other for the benefit of the economies in the future.

Vietnamese Prime Minister Pham Minh Chinh hailed that the Vietnam-Cambodia diplomatic ties has experienced many breakthroughs, and is currently developing in a comprehensive and substantive manner. However, the economic and trade relations are not yet commensurate with the potential of the two countries.

Investors of both countries need to focus resources, expedite the implementation of projects and ensure timely and quality compliance. He also asked them to strictly abide by the laws of both countries, and uphold social responsibility, create stable jobs and income, protect the environment and implement social security policies.

The Vietnamese PM affirmed that Vietnam will create the most favorable conditions to promote effective business investment cooperation, and always respect and listen to the opinions of investors to adjust, and continue improving the institution and governance policies. He expressed his hope for continued determination and efforts for the strength, prosperity, well-being, and happiness of the people.

At the forum, the two Prime Ministers witnessed the signing of investment certificates, cooperation agreements, and memoranda of understanding./.

Bao Linh

Ministry of Planning and Investment