Conference to boost Vietnam investment in Cambodia

A conference to promote Vietnamese investment in Cambodia will be held in Ho Chi Minh City on December 26, said the Ministry of Planning and Investment (MPI) at a meeting on December 21 in HCM City.

Vietnamese Prime Minister Nguyen Tan Dung and his Cambodian counterpart Hun Sen will co-chair the conference, said MPI Deputy Minister Do Huy Dong.

Leaders of ministries, departments and sectors of the two countries will speak with company representatives at the conference about foreign investment attraction strategies and incentives for foreign investors.

Also during the conference, investment licenses will be granted to Vietnamese businesses, investment cooperation agreements will be signed, and the Vietnam Businesses Association in Cambodia will be introduced.

Speaking at the December 21 meeting, Deputy Director of the Foreign Investment Agency under MPI Bui Quoc Trung said Vietnam has invested in 63 projects in Cambodia in the sectors of forestry, agriculture, mining, telecommunications, banking and insurance.

With a total registered capitalization of more than US$900 million so far, Vietnamese businesses poured over $400 million into Cambodia in 2009 alone, Mr. Trung added.

By A.Phuong, translated by Son Hai

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