VietnamNewsToday.com

Vietnamese projects get thumbs up in Cambodia

The Cambodian government will grant licences to five projects invested by Vietnamese investors with total investment capital of $1 billion.

The commitment was made via seven memorandum of understandings signed between Cambodian and Vietnamese government agencies at the second Investment Promotion to Cambodia Conference held in Phnom Penh on April 24.

The projects comprise Lower SeSan II hydro-electronic project developed by the EVN International, an iron ore exploration project developed by Hoang Anh Ratanakiri Company, a cassava flavour production factory, a refined sugar production factory developed by International Star Company and a plantation developed by Hoang Anh Oyadav Company.

There were around 165 enterprises participating in the conference including 94 Vietnamese enterprises. According to a report from Vietnam’s Foreign Investment Agency, Cambodia ranked the second investment destination of Vietnamese investors with 87 projects and $1.9 billion as of February 28, this year.

The first Investment Promotion to Cambodia Conference was held in Ho Chi Minh City in December 2009, raising Vietnamese investors’ interest in Cambodia. At that time, Cambodian and Vietnamese government agencies signed a memorandum of understanding on cooperation to support exploration and exploitation of a bauxite mine in MoldulKiri, next to Vietnam’s Central Highlands’ Dak Nong province, home to Vietnam’s first alumina project. The Cambodia’s Ministry of Industry, Mines and Energy also signed an agreement on exploration and exploitation and granting licence to the joint venture of alumina exploitation (Cambodia – Vietnam) in December, 2009.

The memorandum paved the way for Vinacomin and Cambodia’s Nadaco in cooperation with BIDV to produce 1.5 million tonnes of alumina in the first stage with total investment capital of $2.5 billion and 2.5 million tonnes in the second stage with investment capital of $3.5 billion.

BIDV chairman Tran Bac Ha said Vietnam’s large corporations wereng implementing their investment in Cambodia in sectors such as finance, banks and insurance, telecom, air carriers, agriculture, energy and mines.

From VirVN

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
  • Vietnam PM chairs investment conference in Cambodia
  • India helps Vietnam build IT resource centre
  • Japanese textile businesses select Vietnam
  • Cooperation in seaport development: new but promising
  • Vietnam-Cambodia sign many MoUs on investment cooperation
  • 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
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