Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Vietnam's investment falls in 2008 to $21m

Vietnam's investment falls in 2008 to $21m

Vietnam's investment falls in 2008 to $21m

VIETNAMESE investment in Cambodia declined last year to US$21 million from US$139 million in 2007, the Cambodian Investment Board, a government body, said this week.

The bulk of the decline was due to a US$100 million investment by telecoms operator Viettel in 2007, which bloated the figures.

Youn Heng, the director at the CIB's evaluation and incentive department, said Vietnam had invested mainly in agriculture and telecoms.

"Since the government posted border markers and offered land concessions to Vietnamese investors, these types of investments have increased," Youn Heng said, referring to the practice of allocating land concessions only in border areas where international boundaries had been agreed.

Youn Heng said inward investment by Vietnam was still low compared with that from China, South Korea and the United States - the three largest investors that last year approved projects worth US$6.3 billion.

The commercial counsellor at the Vietnamese embassy in Phnom Penh, Le Bien Cuong, said more than 100 Vietnamese companies are operating in Cambodia, many in agriculture and hydroelectricity.

"The number of Vietnamese investors has increased, but I can't compare the number to China and South Korea because it is still relatively low," he said. He said he hoped that the number of Vietnamese investors would increase in 2009 as Cambodia developed further.

Vietnamese investors ... increased, but ... [THE NUMBER] is still relatively low.

Vietnamese embassy spokesperson Trinh Ba Cam told the Post last week that around 10,000 hectares of concession land located near the Vietnamese border is being used by Vietnamese investors to grow rubber and cassava.

"I hope that our good political and business relationship means Vietnamese investment in Cambodia will keep growing, and I encourage them to continue investing," he said.

Trinh Ba Cam said that since the two governments signed a memorandum of understanding for investment that focused mainly on land, Vietnamese investments had targeted the agricultural sector.

Ly Phalla, general director of the rubber plantation department at the Ministry of Agriculture, said Cambodia has 108,000 hectares of rubber plantations, of which 34,000 hectares are mature. The main markets for Cambodian rubber are Vietnam, Malaysia and China, he added.


  • Kak Channthy, Cambodian Space Project frontwoman, killed in crash at 38 [Updated]

    Updated 5:05pm, Tuesday, March 20, 2018 Kak Channthy, frontwoman of popular The Cambodian Space Project, was killed Tuesday morning in a traffic accident in Phnom Penh. She was 38. Channthy, the internationally recognised singer-songwriter also known as “Srey Thy”, was reportedly travelling in a tuk-tuk on the city's

  • Australian police investigating death threat against Kem Ley's widow

    Updated: 10:17am, Friday March 23, 2018 Australian authorities on Thursday confirmed they have launched an investigation into a crudely written death threat sent tothe family of slain political analyst Kem Ley and Victoria state MP Hong Lim. The typed letter, reported to Victoria police last week, is

  • Apparel groups including H&M and Gap urge Cambodia garment industry reform, seek meeting with Hun Sen

    A group representing some of the largest apparel brands in the US and Europe – including Gap, H&M and ASOS – expressed “growing concern” on Tuesday over several controversial labour laws and ongoing court cases against unionists described as restrictive and unjust. In an open letter

  • Hun Sen says Montagnards don’t exist in Cambodia

    Prime Minister Hun Sen once again attacked ex-opposition leader Sam Rainsy for pledging “autonomy” to Montagnards, claiming – seemingly incorrectly – the ethnic minority does not exist in Cambodia. “We respect all minorities such as Jarai, Steang, Phnong, but we have never had Montagnards,” the premier said