Cambodia and Vietnam worked together to organise the 2023 Cambodia-Vietnam trade forum, giving both nations an opportunity to discuss means of driving the growth of their economies, through trade and investment.
The forum was held at the Vietnamese embassy in Phnom Penh and was attended by over 200 guests, including representatives from the Cambodian Investment Board (CIB) and the Cambodian Special Economic Zone Board (CSEZB) of the Council for the Development of Cambodia (CDC), on June 7.
CIB and CSEZB deputy secretary-general Chea Vuthy said the forum invited Cambodian and Vietnamese businesspeople and investors from the private sector and government officials to discuss mutually beneficial economic activities.
“Through this forum, we highlighted the efforts of the governments of the two countries to strengthening and develop comprehensive cooperation to encourage and ensure sustainable development. The forum was also a chance to showcase the investment potential of the Kingdom,” he added.
He explained that Cambodian laws offer attractive incentives and protections of investments.
“A new sub-decree on the law on investment will come into effect soon,” he said.
Vuthy encouraged businesspeople and investors from both Cambodia and Vietnam to seize the chance to invest in Cambodia.
Hong Vannak, an economist at the Institute of International Relations of the Royal Academy of Cambodia, said that he has seen trade volume between the two countries significantly increase recently, but noted the imbalance of trade between Cambodia and Vietnam.
“Vietnam exports a lot more commodities to Cambodia than we do to them. This is a point that Cambodian economists must consider very carefully,” he continued.
Vannak wanted to see a joint free trade deal between the two neighbours, so that Cambodian exports to Vietnam could increase. A free trade deal could also offer Cambodian investors a chance to invest in Vietnam.
Through the forum, the participants expressed their hopes that they could contribute to an expansion of the volume of trade and investment between the two countries.
Source : Phnom Penh Post