Vietnam’s investment in Cambodia, Laos increases considerably: Agency

Laos and Cambodia are currently the two biggest receivers of direct investment from Vietnamese enterprises and the investment capital keeps increasing, with a twofold in Cambodia this year, according to the Foreign Investment Agency under Vietnam’s Ministry of Planning and Investment.

This year alone, Vietnam’s direct investment in Cambodia is more than US$1 billion, doubling that of last year, Mr Nguyen Noi, deputy head the agency, said at a Mekong Sub-region Investment Cooperation Forum co-organized by the ministry in Hochiminh City Dec. 16.

Nguyen Noi (1st, L), deputy head of Foreign Investment Agency of Vietnam’s Ministry of Planning and Investment, co-chairs the forum Q&A session with other officials (Photo: Tuong Thuy)

He said Vietnamese enterprises have invested in about 100 projects in the neighboring countries, with US$2.1 billion in total registered capital.

In Laos, Vietnamese companies have so far invested in around 200 projects Laos, with US$3.3 billion in total registered capital, according to the agency. The investment registered between January and November was about US$500 million, rising by 15% year-on-year.

In the two neighboring countries, Vietnamese companies put their investment mainly in the fields of forestry, agriculture, energy, mining, telecommunication, and banking, according to the agency. Some large-scale projects in Laos will soon start service in 2012, according to Mr. Noi.

Hoang Anh Gia Lai Group, Saigon Invest Group, Vietnam Rubber Industry Group and telephone and communications company Viettel are among major Vietnamese investors in Laos and Cambodia.

Vietnamese-invested projects in Cambodia have created more than 6,000 stable jobs, according to the agency.

The Ministry of Planning and Investment co-organized the Mekong Sub-region Investment Cooperation Forum with Vietnam’s Association of Foreign-Invested Enterprises, and the Vietnam-Laos-Cambodia Association for Economic Cooperation Development.

The forum discussed measures to further promote investment in the Southern Economic Corridor and the Vietnam-Laos-Cambodia Development Triangle.

The corridor connects Thailand’s Bangkok, Cambodia’s Phnom Penh and Ho Chi Minh City, Vietnam’s southern economic hub.

By Tuong Thuy

Other news

Most view

Banking-finance

Economy

Vietnam's trade gap from Thailand nears $ 3.5 bln

Minister of Industry and Trade Tran Tuan Anh yesterday chaired a conference in Hanoi with leaders of departments and agencies to find the reasons why Vietnam excesses of imports over exports from Thailand and the solutions to enhance competitiveness of local products, and to promote exports activities to Thailand, aiming to balance the trade gap between two countries.

Self - introduction

Stock market

DHC, SPA approve to distribute dividend payment

Dong Hai Ben Tre Corp (DHC) announced to close its shareholders ‘list on September 25; issue 2.6 million shares for 10 percent dividend payment in 2016 and 5.1 million shares for current shareholders, priced at VND 18,000 per share.