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Vietnam-Cambodia business club aims to increase trade
The Vietnam-Cambodia business club, with representatives from 67 businesses across the country, made its debut in Hanoi on Oct. 16.
Deputy Foreign Minister Dao Viet Trung, President of the Vietnam-Cambodia Friendship Association Vu Mao and the Cambodian Ambassador to Vietnam Vann Phall attended the event.
Truong Huu Chi, President of the Institute of Machinery and Industrial Equipment (IMI Holding) and President of the club, said that the club, established by the Vietnam-Cambodia Friendship Association, will provide Vietnamese businesses and businesses run by overseas Vietnamese in Cambodia with information regarding investment policies in the two countries and investment opportunities in Cambodia . It will also provide consultancy services for projects implemented by Vietnamese and overseas Vietnamese living in Cambodia .
Ambassador Vann Phall congratulated the club on its establishment and praised its aims to strengthen and develop the two countries’ friendship and economic cooperation. He said that Vietnam has contributed markedly to Cambodia ’s development through cooperation in many areas.
Cambodia will create favourable conditions for Vietnamese businesses to invest in Cambodia , particularly in the areas of industrial crops, rice and coffee growing, animal feed processing, tourism, mining, education and irrigation, the ambassador said.
The two countries’ two-way trade value has increased by 30 percent year-on-year, reaching 1.1 billion USD in 2007. The two governments have agreed to raise this figure to 2 billion USD by 2010.
VNA
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