On September 14, the Council for the Development of Cambodia (CDC) along with the Vietnam-Cambodia Business Association (VCBA) jointly organised a meeting and dialogue between Cambodian ministries coupled with agencies and Vietnamese businesses alongside investors.

The scene at the meeting and dialogue.

At the dialogue, the CDC Secretary-General outlined Cambodia’s investment potential, development orientations and a number of policies aimed at attracting investment across various sectors. Vietnamese Ambassador to Cambodia, Mr. Nguyen Minh Vu introduced the capabilities and potential of Vietnamese investors, while calling on the CDC, Cambodian ministries together with agencies to provide support and guidance for Vietnamese businesses, thereby creating greater investment opportunities for them in Cambodia.

Ambassador Nguyen Minh Vu said the goal of raising two-way trade between Vietnam coupled with Cambodia to 20 billion US$ is ambitious but entirely achievable if business communities in both countries make a strong shift from a mindset focused on “buying and selling goods” towards “investment, production combined with value-chain linkages”.

According to the VCBA, Cambodia currently enjoys numerous advantages that could make it an important investment destination for Vietnamese businesses, including its geographical proximity to Vietnam, a developing market and rising consumer demand. The country also has significant potential in agriculture, processing industries, logistics, trade, energy, tourism alongside services. In particular, Cambodia has considerable potential for developing agricultural production and processing industries.

The VCBA raised the question of how Vietnamese along with Cambodian businesses can invest and produce together, jointly create value, as well as bring their products to regional and global markets. According to the association, if this can be achieved, the 20 billion US$ target will be more than a trade figure; it will also reflect the development of a deep alongside comprehensive economic cooperation ecosystem between the two countries.

Delegates posing for a group photo after the meeting and dialogue.

The VCBA affirmed that it will continue to serve as a bridge for investment promotion and connectivity while supporting businesses. It will coordinate with the CDC, the Vietnamese Embassy, the Vietnam Trade Office and relevant Cambodian agencies to help turn cooperation policies combined with orientations between the two countries into concrete investment projects and tangible business outcomes.

At the dialogue, leaders of the Dak Lak Trade and Investment Promotion Association, Vietnamese businesses together with the VCBA raised a range of issues concerning investment and business activities. CDC representatives responded to the issues as well as took note of the matters discussed at the conference.

Translated by HAI LOAN