Logo of Phnom Penh Post newspaper Phnom Penh Post - ‘Cambodia-Vietnam ties stronger than rest of Asean’

‘Cambodia-Vietnam ties stronger than rest of Asean’

Content image - Phnom Penh Post
Total trade volume between Cambodia and Vietnam during the first 11 months of last year reached $4.8 billion – up 13.8 per cent compared with 2018. Heng Chivoan

‘Cambodia-Vietnam ties stronger than rest of Asean’

With Vietnam’s economic relationship with Cambodia being significantly stronger than its other Asean partners, Vietnamese ambassador Vu Quang Minh said the two countries’ trade volume will reach $5.2 billion annually.

“The figure exceeds the $5 billion target set by the prime ministers of the two countries earlier,” he said.

Total trade volume for 2018 reached $4.704 billion – up 23.8 per cent from 2017. The trade volume during the first 11 months of last year reached $4.8 billion – up 13.8 per cent compared with 2018.

There are 214 registered projects in the Kingdom worth a total investment of $3.074 billion. Of these, 176 were ongoing with a total registered capital of $2.77 billion, said Minh.

In the first five months of last year, the Cambodian government approved three new projects with a total registered capital of $530,000.

A further three projects adjusted their commitments, increasing capital investment to $37.5 million in total. As a result, Vietnam is the Kingdom’s third-largest trading partner with firms investing up to $50 million as of September last year.

At the inauguration of the Da Market border marker in Tbong Khmum province last month, Prime Minister Hun Sen called for more Special Economic Zones [SEZ] along the Cambodia-Vietnam boundary so as to attract additional investments.

“We have to transform the border which was ravaged by war into the place for trade, investment, peace, cooperation, and development.

“I want more SEZs to be established along the Cambodia-Vietnam border to attract Vietnamese investors and [support] the export market. If we develop more [SEZs], we will be able to process agricultural products into finished goods for export,” Hun Sen said.

Minh said Vietnamese investments focused on the agricultural, banking, telecommunications, and manufacturing sectors.

“Investments from Vietnamese firms in Cambodia have contributed significantly to the economic development and social security of the Kingdom of Cambodia,” Minh said.

He said Cambodia had 21 investment projects in Vietnam with a total registered capital of nearly $64 million – ranking number 54 among 132 partners.

He said Vietnam and Cambodia had signed several agreements to promote economic trade. They include the Double Taxation Accord and the Vietnam-Cambodia Transport Cooperation Strategy for 2018-2025.

In a bid bolster tourist visits, the Vietnam National Administration of Tourism and the Cambodia Ministry of Tourism signed an MoU to boost tourism between the two countries.

In furtherance of this, Angkor Air launched direct flights from Phnom Penh to Ho Chi Minh City and Danang, Vietnam.

“The deepening economic cooperation between Vietnam and Cambodia will serve as an important foundation in bolstering better relations between the two countries in the future,” Minh said.


  • Phnom Penh placed in two-week lockdown

    The government has decided to place Phnom Penh in lockdown for two weeks, effective April 14 midnight through April 28, as Cambodia continues to grapple with the ongoing community outbreak of Covid-19, which has seen no sign of subsiding. According to a directive signed by Prime Minister

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Hun Sen: Stay where you are, or else

    Prime Minister Hun Sen warned that the two-week lockdown of Phnom Penh and adjacent Kandal provincial town Takmao could be extended if people are not cooperative by staying home. “Now let me make this clear: stay in your home, village, and district and remain where

  • Businesses in capital told to get travel permit amid lockdown through One Window Service

    The Phnom Penh Municipal Administration has issued guidelines on how to get travel permission for priority groups during the lockdown of Phnom Penh, directing private institutions to apply through the municipality's One Window Service and limit their staff to a mere two per cent. In

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Ministry names types of business permitted amid lockdown

    The Ministry of Labour and Vocational Training singled out 11 types of business that are permitted to operate during the lockdown of Phnom Penh and Takmao town, which run through April 28. Those include (1) food-processing enterprises and slaughterhouses; (2) providers of public services such as firefighting, utility and