VietnamNewsToday.com

Vietnam-Cambodia sign many MoUs on investment cooperation

Within the framework of Vietnamese prime minister’s visit to Cambodia, the second Vietnam-Cambodia Investment Promotion Conference was organized on April 24 in Cambodian capital of Phnom Penh.

At the conference, Vietnamese Ministry of Planning and Investment (MoPI) and Cambodian Development Committee signed a memorandum of understanding (MoU) on investment management and promotion, another MoU on investment license granting for Se San 2 hydropower project between Vietnamese Ministry of Industry and Trade (MoIT) and Cambodian Ministry of Industry, Mining and Energy and a MoU on investment license granting for projects such as cassava trading and production, sugarcane production, rubber growing and fertilizer production.

Vietnamese PM, Nguyen Tan Dung, said that the Vietnamese government will create favorable conditions for enterprises to invest in foreign countries in general and in Cambodia in particular.

On the other hand, Cambodian government is continuing to reform in some sectors aiming to promote trade and investment activities, Cambodian prime minister, Husen, said.

Previously, the two leaders cut the ribbon to inaugurate Vietnam-Cambodia Securities Co (CVS).

So far, Vietnam has become the third biggest foreign investor in Cambodia. Cambodia has become the second biggest countries amongst 55 foreign nations and territories that attract investments of Vietnamese enterprises.

During past time, the two partners have signed more than 60 legal documents on bilateral cooperation in almost sectors. The two-way trade has seen gradual growth every year and reached over $1.8 billion in 2010.

Till April 2011, Vietnamese enterprises have 87 investment projects being licensed in Cambodia, capitalized at more than $2 billion and the investment scale increased to $22.9 million per project.

Vietnam’s investment projects in Cambodia mainly focused on key sectors such as telecommunications, aviation, agriculture, rubber growing, energy, hydropower, mining and bank, creating 6,000 permanent jobs for Cambodian people.

Notably, Vietnamese military-run telecommunication firm (Viettel) has invested $253 million in Cambodia. After two years of entering the market, Viettel International Investment Joint Stock Co’s total number of Metfone mobile network subscribers increased three times and Internet users saw a 10-fold increase.

From VietNamBusiness

Newer Articles
  • Government okays anti-dumping suit against US
  • Switzerland vows all-round cooperation with Vietnam
  • Vietnam-Malaysia bilateral trade hits US$4 billion
  • International tourism investment promotion conference kicks off
  • Laos relationship to climb to new level
  • WTO ruling favours VN shrimp exports
  • US toasts Viet Nam’s trading importance
  • JICA stands by cooperation commitments with Vietnam
  • Vietnam borrows $75m from ADB to upgrade traffic system
  • ASEAN+3 eye higher, more strategic financial ties
Older Articles
  • Cooperation in seaport development: new but promising
  • Vietnam-Qatar aviation, tax agreements take effect
  • Finns look to cut open ethanol opportunities
  • Vietnam Airlines present VND800 mil to Japan
  • Piaggio picks Vietnam as Vespa’s Asian R&D centre
  • Ho Chi Minh City to boost investment in Laos
  • FTA would allow Euro trade ties to flourish
  • Halong-Fangchenggang sea route reopens
  • Hoi An makes top 10 destinations in UK travel magazine
  • Vietnam wants to see more investment from France
Latest News
  • Vietnamese software firms consider Japan as the major market
  • Despite problems, 2011 FDI spending equals 2010
  • EVNTelecom asks for government’s approval to sell 12pct stake for VTC
  • Vietnamese enterprises expanding into international markets
  • Ernst & Young Vietnam role to be examined
  • Vietnamese firms invest over $24.5b in foreign countries as of July-end
  • Vietnam Insurance Market: Keeping Double-digit Growth
  • Vietnam’s economy looks grim with ADB’s forecast
  • Ministry rejects import-export tax changes
  • Government okays anti-dumping suit against US
For Foreigners
  • Adb: policy tightening will lower inflation
  • HSBC, Barclays to advise Vietinbank’s planned overseas dollar bond sale
  • Vietnam govt to service debt for troubled cement projects
  • Calm heads prevail as the forex market to remain cool
  • Further fiscal & monetary tightening in coming months
  • IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011
  • Vietnam’s dong has best week since 1997 after dollar rates curb
  • Vietnam tightens control over state-bank partnership
  • Foreign investors list problems in Vietnam
  • Foreign invested enterprises complain about customs procedures

BusinessTradeVietnamGovernmentFDIWorld economyVietnamese PartyEconomyEconomicMarketState managementPrime MinisterHCM cityHanoiHo Chi MinhCPIAsianWorldAmericaEuropeNguyen Tan DungHau GiangMekong DeltariceStandingMekongCambodiausajapanchinakoreaLai ChauHoa BinhHoi AnChu LaiQuang NamDa nangCan thoSon LaPower PlantMinistry of IndustryDung QuatOilSingaporeThailandMalaysiaIndonesiaLaosVietnameseFDI capitalinvestorsforeign investorNetherlandsUSservicetransportationinfrastructuretourismVNPostExpressSpainGoldTra fishexportcontractstouristMiddle AreaConstructionShipbuildingIndustryCompanyIndustrial ZonebudgetDong NaiBinh DuongVung TauTay NinhBinh PhuocTay NinhLong AnTien GiangUS investorshydropower plantQuang NinhNha TrangStock ExchangeHNXIndexcapitalAgricultureDong ThapAn GiangExport-Processing ZoneYen BaiLao CaiLai ChauDien BienSon LaHoa BinhPhu ThoHa GiangTuyen QuangBac KanLang SonCao BangmanufacturersAseanRussiadevelopmentAviationinflationHong KongAmericanChamber of CommerceSeafoodODAWBIMFFEDAsia-PacificAssociationcountriesEuropeanmarine economyThanh HoaNghe AnNam DinhHa TinhPhu LýVinh PhucBac NinhBac GiangHung YenHai DuongBinh ThuanBinh PhuocLam DongGia LaiKon tumQuang NgaiQuang BinhQuang TriNinh ThuanCa MauBac LieuSoc TrangTra VinhKien GiangVinh LongBen TreincomespoliciesLawassetsNatural GasBuildingstatisticsstrategyDa Latmineral exploitationprocessingindustrieselectricitywatersupplyEnterprisesforestryfisherycommunicationsreal estatetransportationCorruptionbauxiteSecuritiesInsuranceBankFinanceAccountgoodsTrade BalancecoffeeCoalfestivalHa NamNinh BinhHoa BinhUniversityArtsBooktravelVietnam VisaVisaPagodaCommitteePeople's CommitteeVinashincompaniesHoa PhatHSBCACBvietcombankvietinbank

Copyright 2010 © VietnamNewsToday.com 
Powered by: CIINS Design by: Webdesign.vn