Breakthrough in Vietnam - Cambodia investment and trade cooperation

On the morning of December 12, Prime Minister Pham Minh Chinh and Cambodian Prime Minister Hun Manet attended the Vietnam - Cambodia Investment and Trade Promotion Forum, within the framework of Prime Minister Hun Manet's official visit to Vietnam.

According to Minister of Planning and Investment Nguyen Chi Dung, Cambodia is one of the earliest and largest overseas investment destinations of Vietnam. Currently, there are more than 200 projects of Vietnamese enterprises investing in this country, with a total registered capital of about 2.9 billion USD. Vietnam continues to lead ASEAN and is in the top 5 countries with the largest direct investment in Cambodia with 205 valid investment projects, focusing on agriculture, energy, telecommunications, banking and finance, industrial production, etc.

Đột phá hợp tác đầu tư, thương mại Việt Nam - Campuchia - Ảnh 1. — *Prime Minister Pham Minh Chinh and Cambodian Prime Minister Hun Manet attended the Investment Promotion Forum on the morning of December 12.*

Prime Minister presents Mr. Hun Manet with a book by General Secretary Nguyen Phu Trong

On the afternoon of December 12, Prime Minister Pham Minh Chinh presented Cambodian Prime Minister Hun Manet with several books by General Secretary Nguyen Phu Trong and saw him off to his country, successfully concluding his official visit to Vietnam. According to Prime Minister Pham Minh Chinh, to obtain these books, General Secretary Nguyen Phu Trong spent a lot of effort summarizing practices, researching and developing theories over many years. Summarizing the achievements in developing theories and the results of summarizing practices, these books have great practical and theoretical significance for the Vietnamese revolution and Cambodia can refer to in the process of building and developing the country.

However, investment activities of Vietnamese enterprises in Cambodia also face some difficulties. Investment results are still modest, some large projects have not been resolved promptly... The leader of the Ministry of Planning and Investment also said that in the coming time, the two governments will promote investment cooperation between Vietnam and Cambodia and there must be a new breakthrough in investment and trade cooperation, strengthening the connection between the two economies of Vietnam - Cambodia as well as the three regional economies of Vietnam - Laos - Cambodia. Speaking at the event, Cambodian Prime Minister Hun Manet emphasized that after 56 years of establishment, diplomatic relations between Vietnam and Cambodia have been continuously nurtured and developed in all fields. Vietnam is also the first ASEAN country that he visited after taking office as Prime Minister. According to Prime Minister Hun Manet, the total investment capital of Vietnam to Cambodia can actually be higher thanks to the huge potential for cooperation, especially when the two countries share the same production supply chain, many private sectors can complement and learn from each other. Cambodia is actively implementing the Pentagon Strategy and improving the business investment environment, while attaching importance to developing the private economy, developing strategic infrastructure connecting with Vietnam... "This is a "win-win" scenario for the two countries, linking the supply chain to take advantage of opportunities, making the most of the RCEP Free Trade Agreement of which Vietnam and Cambodia are both members", the head of the Cambodian Government stated and encouraged and invited more Vietnamese investors to Cambodia, especially in areas with high potential and the ability to link with Vietnam's advantageous industries such as high-tech agriculture, food processing industry, digital technology, finance, automobile manufacturing... Currently, the number of Vietnamese tourists to Cambodia is about 800,000, ranking second among the country's tourist markets and is expected to continue to increase based on promotion, destination connection and rich tourism. Cambodia has just inaugurated Siem Reap International Airport and plans to build more international airports.

Connecting infrastructure of two countries

"Cambodia has young labor potential, infrastructure is being built with expressways, including the one under construction from Phnom Penh - Bavet connecting with Ho Chi Minh City - Moc Bai. Cambodia will always welcome Vietnamese investors and promote bilateral investment," Prime Minister Hun Manet emphasized. Sharing with Prime Minister Hun Manet, Prime Minister Pham Minh Chinh recalled attending a business forum with then Cambodian Prime Minister Hun Sen during his visit last year. The specific results achieved after this forum contributed to raising the trade turnover between the two countries to more than 10 billion USD last year. However, economic and trade relations are not commensurate with the potential of the two countries. The Prime Minister called on businesses to continue investing and promoting trade between the two countries, not only for the growth and development of businesses, but also to strengthen and consolidate the good traditional friendship between the two peoples. At the same time, he suggested that businesses of the two countries, together with the two governments, strengthen connectivity and support the two economies, focusing on institutions, finance, transport infrastructure, electricity, telecommunications, tourism, etc. With the spirit of "harmonious benefits, shared risks", the Prime Minister hopes that the two sides will do better if they have done well, be more determined if they have made efforts, and make even more efforts if they have made efforts.

Prime Minister Hun Manet received Mr. Bui Quang Huy

On the afternoon of December 12, Cambodian Prime Minister Hun Manet received alternate member of the Party Central Committee, First Secretary of the Central Youth Union Bui Quang Huy and the Central Youth Union delegation. Mr. Hun Manet was pleased to see the development in the relationship between Vietnam and Cambodia in general, as well as the relationship between the Ho Chi Minh Communist Youth Union Central Committee and the Youth Committee of the Cambodian People's Party. Mr. Bui Quang Huy recalled the memory when Mr. Hun Manet held the position of Chairman of the Youth Committee of the Cambodian People's Party; regardless of his position, Prime Minister Hun Manet always paid attention to and respected the youth union. Prime Minister Hun Manet affirmed that the connection between the Ho Chi Minh Communist Youth Union Central Committee and the Youth Committee of the Cambodian People's Party is important in strengthening and promoting the good relationship between the two countries. He also hoped that in the coming time, there would be more specific cooperation between the delegations of the two countries such as visits, exchange programs, training, etc., building a more concrete and substantive relationship. Earlier that morning, Prime Minister Pham Minh Chinh and Prime Minister Hun Manet spent time meeting and interacting with students of the Foreign Trade University in Hanoi - one of the schools with many Cambodian students studying. Currently, there are about 3,000 Cambodian students studying in Vietnam.