Việt Nam, Cambodia seek stronger economic, investment cooperation

Việt Nam, Cambodia seek stronger economic, investment cooperation

A Cambodian official reaffirmed openness to Vietnamese firms, urging investment in digital transformation, renewable energy, agro-processing and services to build sustainable partnerships.

Vietnamese and Cambodian businesses sign an MoU during a thematic discussion on cooperation and investment opportunities in the healthcare sector. — VNA/VNS Photo

The Vietnamese Embassy in Cambodia, in coordination with the Vietnam-Cambodia Business Association (VCBA), held a business dialogue on Wednesday, aimed at updating participants about bilateral cooperation, sharing business experiences and fostering investment and trade ties between the two neighbouring countries. 

The opening session was chaired by Vietnamese Ambassador to Cambodia Nguyễn Minh Vũ, Cambodia Chamber of Commerce (CCC) President Neak Oknha Kith Meng and VCBA Chairman Oknha Leng Rithy, with Cambodian trade officials and about 200 business representatives in attendance.

Delegations from some Vietnamese localities, including Tây Ninh, Gia Lai, HCM City, Cần Thơ and Lâm Đồng and business organisations also attended the annual event. 

In his opening remarks, Vũ highlighted the orientation set by the 14th National Party Congress to elevate foreign affairs, particularly economic diplomacy, as a central task contributing directly to socio-economic development and the achievement of double-digit growth towards becoming a high-income developed country by 2045. 

He affirmed Việt Nam’s desire to strengthen cooperation with partners, including Cambodia, across areas such as investment, trade, tourism, infrastructure, agriculture, energy, logistics and the digital economy. During Party General Secretary Tô Lâm’s state visit to Cambodia in February, leaders of both countries reiterated their determination to further connect the two economies, leverage complementarities and step up trade and investment promotion efforts, striving to raise bilateral trade to US$20 billion. 

The ambassador expressed his hope that the dialogue would help businesses, particularly Vietnamese firms, better understand Cambodia’s investment environment and opportunities, enabling them to shape effective business strategies. He also proposed that the Council for the Development of Cambodia (CDC) coordinate in organising a dedicated dialogue with Vietnamese enterprises this year. 

At the event, CCC President Kith Meng described connectivity as the “lifeblood” of bilateral economic ties, noting ongoing efforts to enhance infrastructure and logistics connectivity as well as upgrade border facilities to build regional supply chains and boost competitiveness. 

He also highlighted Cambodia’s economic reforms under the leadership of Prime Minister Hun Manet, including improvements to the investment climate and workforce development. He reaffirmed his country’s openness to Vietnamese firms, urging greater investment in digital transformation, renewable energy, agro-processing and services to foster sustainable partnerships and shared growth.

VCBA Chairman Leng Rithy stressed that bilateral economic ties are evolving beyond traditional trade towards deeper cooperation in technology, sustainable agriculture and green energy. He reaffirmed the association’s role in supporting businesses and facilitating market entry. 

Cambodian officials emphasised continued efforts to improve the investment environment through public – private dialogue, the development of special economic zones and the expansion of logistics infrastructure. 

Vietnamese businesses in Cambodia were briefed by local authorities on specific incentive policies covering the construction of agro-processing and lubricant manufacturing plants, the promotion of e-commerce and land leasing in industrial zones. 

The programme also featured four thematic sessions where participants shared policy information, explored investment opportunities, and raised recommendations to authorities of both countries. 

Việt Nam is currently the fifth-largest investor in Cambodia, with 223 projects worth nearly $3 billion, contributing significantly to local socio-economic development, job creation, and social welfare. 

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