Vietnam, Cambodia boost cooperation in planning and investment

Vietnam and Cambodia signed a memorandum of understanding (MoU) in Hanoi on March 4 to strengthen bilateral cooperation in planning and investment.

Signatories to the document were Vietnamese Minister of Planning and Investment Vo Hong Phuc and Cambodian Minister of Planning Chhay Than.

Under the MoU, both ministries will closely co-ordinate in devising plans to improve advisory work for their governments. They will hold the exchange of high-level delegations annually, share experiences in planning, and organize short-term training courses for their staff.

This year, the Ministry of Planning and Investment (MPI) will invite officials from the Cambodian Ministry of Planning to visit several border provinces on fact-finding trips to promote mutual understanding.

Last year, the Government of Vietnam provided VND90 billion in non-refundable aid to the Cambodian Royal Government to strengthen cooperation in the field of education and training, according to the MPI. In addition, Vietnam also granted more than 1,800 scholarships to Cambodian students in the field of education, culture, sports, and inspection.

In 2008, two-way trade between the two countries reached US$1.7 billion, up 42 percent compared to the previous year. Currently, around 39 Vietnamese projects capitalized at US$211.2 million have received business licenses from the government of Cambodia.