Vietnamese brands regional giants in Cambodia

A trade fair organized by Vietnamese manufacturers to showcase their products in Cambodia Several Vietnamese exports hold larger market shares in Cambodia than both Thai and Chinese products, said a local businessman familiar with the Cambodian economy.

Truong Cung Nghia, executive director of Truong Doan Company, said Cambodian customers preferred Vietnamese products to those from Thailand and China. Processed seafood products from Vietnam held an 80 percent market share in Cambodia while agricultural products made up 67 percent of that market, said Nghia, whose company specializes in Cambodian market research. Nghia added Vietnamese businesses supplied 68 percent of Cambodia’s steel demand. Nguyen Xuan Truong, head of Binh Dien Fertilizer Company’s Marketing Department, said Cambodians used similar daily agricultural products. Truong said his company’s brand was popular with Cambodian farmers in rural areas as the company advertized heavily in the countryside. Sales in Cambodia reeled in higher revenues for the company than its domestic sales did, said Truong. However, it was still risky to trade with partners in Cambodia as they paid in cash and rarely used banks, said Nghia. Truong said about 120 Vietnamese businesses and investors were operating in Cambodian markets, contributing to the US$1.7 billion bilateral trade with Vietnam last year. He said the figure would grow to $2 billion this year. Reported by Minh Quang