Vietnam-Cambodia Investment and trade set to rise

Border trades like this one between Cambodia and Vietnam are on the increase annually.

VietNamNet Bridge - Vietnam’s investment in Cambodia has steadily increased to 115 million USD in 2007 and more investment from the country is expected in 2008, said a recent report from the Cambodian Ministry of Trade.According to the ministry, the main areas for Vietnamese investment include construction of hydropower plants, mining and telecommunications, with projects valued at hundreds millions US dollars by well-known Vietnamese businesses such as the Army Telecommunications Corporation (Viettel), the Vietnam Oil and Gas Group (PetroVietnam), the Vietnam National Coal Mineral Industries Group, and the Electricity of Vietnam (EVN). Robust investment from Vietnam has helped a lot to boost up trade between the two countries. Two-day trade between Vietnam and Cambodia increased eight folds to 940 million USD in 2006 from 184 million USD in 2001, and made a record high of 1.1 billion USD in 2007. Vietnam exported close to 1.1 billion USD worth of commodities, mainly textile facilities, plastics, home alliance, vegetables and fruits, confectionaries, cigarettes and detergent to Cambodia last year. It imported from the neighbour more than 180 million USD worth of farm produce, furniture, rubber and salt.Cambodia’s Ministry of Trade said cross-border trade with Vietnam is expected to hit 2.5 billion USD by 2010.

(Source: VNA)