2:59 PM
Trung
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| PM Nguyen Tan Dung chairs the second Vietnam-Cambodia Investment Promotion Conference in Phnom Penh on April 24. |
“The second Vietnam-Cambodia Investment Promotion Conference is significant and necessary for the current period as the event will serve as a channel for regular information exchange between the two countries and business circles,” Dung said.
Dung, who was on a two-day visit to Cambodia that wrapped up Sunday, praised the outcomes of economic and trade cooperation attained by the two countries after the first conference, describing them as the foundation for the two sides to further cooperation and tap their potential effectively.
“The
Vietnamese government resolves on encouraging and creating favorable
conditions for its businesses to invest in other countries in general,
and in Cambodia in particular,” Dung told the participants, who also
included 200 businesses from both countries.
Taking the floor, Cambodian PM Hun Sen underlined the importance and significance of the conference.
He
pledged the creation of a profit-making environment, noting the
Cambodian government is pressing ahead with reforms in several areas to
facilitate trade and investment in the fields it boasts high potential,
such as telecom, rubber tree planting, mining, and hydropower.
Representatives
from the Development Council and the Chamber of Commerce of Cambodia
introduced to the conference their country’s economic development
strategy together with its key areas and investment promotion policies
and repeated the Development Council’s commitments to Vietnamese
investors in Cambodia.
Over the past years, the friendship and all-sided cooperation between Vietnam and Cambodia has been deepened.
The
two countries have signed over 60 legal documents on bilateral
cooperation in almost all fields and created necessary cooperative
mechanisms to fit their current development requirements.
As
a result, economic and trade ties between the two countries have grown
steadfastly. The two-way trade value has increased year on year, from
US$950 million in 2006 to hit over $1.8 billion in 2010.
Realizing
their advantages and disadvantages, the two sides have also proactively
discussed measures to boost economic and trade cooperation, including
the opening and upgrade of several border economic zones and border
markets.
Vietnam
has to date had 87 invested projects with a total capital of over $2
billion in Cambodia, ranking third among foreign investors there.
These
projects are mostly engaged in telecom, aviation, agriculture, rubber
tree planting, energy, hydropower, mining and banking.
At
the end of the conference, the two PMs witnessed the signing of
memorandums of understanding on investment promotion and management
between the Ministry of Planning and Investment of Vietnam and the
Development Council of Cambodia.
They
also witnessed the hand-over of investment licenses to the Lower Se San
2 hydropower project and the iron ore mining project between the
Vietnamese Ministry of Industry and Trade and the Cambodian Ministry of
Industry, Energy and Mining.
Earlier, the two PMs cut the ribbons to launch the Vietnam-Cambodia Securities Company.
Vietnam News Agency
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