VN, Cam­bo­dia aim for $8b

Viet Nam News - - FRONT PAGE -

HAØ NOÄI — Vieät Nam and Cam­bo­dia could bring their two-way trade value to US$7-8 bil­lion by 2020 due to their al­ready sound co­op­er­a­tion and ef­forts to re­move dif­fi­cul­ties for busi­nesses, Prime Min­is­ter Nguyeãn Xuaân Phuùc has said.

The PM was speak­ing at the Vieät Nam-Cam­bo­dia Busi­ness Fo­rum in Haø Noäi yester day, which his Cam­bo­dian coun­ter­part Samdech Te­cho Hun Sen also at­tended.

The Min­istry of Plan­ning and In­vest­ment re­ported Cam­bo­dia is al­ways among t he t op t hree coun­tries re­ceiv­ing in­vest­ment from Vieät Nam.

Viet­namese in­vestors have so far poured $3 bil­lion into 210 pro­jects in agri­cul­ture, bank­ing, telecom­mu­ni­ca­tions, IT, in­dus­try, pro­cess­ing and man­u­fac­tur­ing, trade and health­care in Cam­bo­dia. Many of them have con­trib­uted greatly to devel­op­ment in lo­cal­i­ties host­ing their pro­jects.

In turn, Cam­bo­dia has had 20 op­er­at­ing pro­jects with nearly $65 mil­lion in Vieät Nam, en­gag­ing in agri­cul­ture, forestry, aquaculture and trade.

The two coun­tries have been work­ing to main­tain high twoway trade value growth and ex­pect the value to reach $5 bil­lion this year, a vol­ume pre­vi­ously set for 2020.

Vieät Nam ranks sec­ond in terms of the num­ber of tourists vis­it­ing Cam­bo­dia with about 500,000 peo­ple hol­i­day­ing in the neigh­bour­ing coun­try in the first 10 months of this year. Last year, 220,000 Cam­bo­di­ans vis­ited Vieät Nam.

Ad­dress­ing the fo­rum, PM Phuùc said the two coun­tries need to work more closely and more ef­fi­ciently, with re­gional and global eco­nomic chal­lenges on the way.

Once the two coun­tries work with each other to tape their huge po­ten­tial, they can bring mu­tual ben­e­fits for their peo­ples, he noted.

He urged the two coun­tries’ busi­ness­peo­ple to make best use of the ASEAN eco­nomic com­mu­nity’s reg­u­la­tions on open­ing up to cap­i­tal, com­modi­ties, labour­ers and ser­vices.

“The Gov­ern­ment and Prime Min­is­ter of Vieät Nam al­ways sup­port and pro­vide all pos­si­ble con­di­tions to as­sist Viet­namese busi­nesses to in­vest in Cam­bo­dia,” he said.

He re­minded Viet­namese in­vestors to pro­vide train­ing, trans­fer tech­nol­ogy, re­alise their so­cial re­spon­si­bil­i­ties and pro­tect the en­vi­ron­ment in Cam­bo­dia.

He asked big groups, like Vi­et­tel, PetroViet­nam and Viet­nam Elec­tric­ity to pi­o­neer in do- ing prof­itable busi­ness in the neigh­bour­ing coun­try.

He ex­pected the Cam­bo­dian gov­ern­ment and Prime Min­is­ter Hun Sen will con­tinue un­lock­ing dif­fi­cul­ties for Viet­namese in­vestors to ease in­vest­ment flow be­tween the two coun­tries.

PM Hun Sen hailed trade and in­vest­ment co-op­er­a­tion be­tween the two coun­tries, say­ing the Viet­namese Gov­ern­ment and PM man­aged the econ­omy pro­fes­sion­ally, thus rein­ing in in­fla­tion and aid­ing Cam­bo­dia’s econ­omy.

He said Cam­bo­dia is pur­su­ing a pol­icy to de­velop in­dus­tries, re­form­ing ad­min­is­tra­tive pro­ce­dures in tax­a­tion and cus­toms and call­ing for in­vest­ments into deep­wa­ter sea­ports, high­ways and na­tional roads to con­nect to ports and neigh­bour­ing coun­tries.

Cam­bo­dia posts av­er­age GDP growth rate of more than 7 per cent and ex­pects growth of 7.3 per cent this year. It is work­ing to be­come a high mid­dle-in­come coun­try by 2030, he said.

The Cam­bo­dian gov­ern­ment is re­vis­ing laws re­lat­ing to in­vest­ment and work­ing to adopt the law on spe­cial eco­nomic zones. It will mod­ernise the cus­toms and tax sys­tems and en­cour­age the devel­op­ment of smart cities and high­qual­ity hu­man re­sources, he told par­tic­i­pants. — VNS HCM CITY — Be­larus not only wants to ex­port its prod­ucts to Vi­etä Nam, but also trans­fer tech­nolo­gies and es­tab­lish joint pro­duc­tion plants in Vi­etä Nam with lo­cal firms, a bi­lat­eral busi­ness fo­rum heard in HCM City yes­ter­day.

Speak­ing at the first ever meet­ing of the Vieät Nam-Be­larus Busi­ness Coun­cil and the Vieät NamBe­larus Busi­ness Fo­rum, Be­larus’ Deputy Min­is­ter of Agri­cul­ture and Food Igor Brylo said Vieät Nam is a tra­di­tional trade part­ner for his coun­try in Asia.

The 2016 free trade agree­ment be­tween the Eurasian Eco­nomic Union and Vieät Nam has boosted in­vest­ment and trade be­tween the two coun­tries sig­nif­i­cantly, he said.

Voõ Taân Thaønh, di­rec­tor of the Vieät Nam Cham­ber of Com­merce and In­dus­try’s HCM City of­fice, said last year bi­lat­eral trade rose 7 per cent to US$101 mil­lion.

The two coun­tries are mak­ing ef­forts to in­crease it to $500 mil­lion as agreed by their gov­ern­ments, he said.

In 2016, Be­laru­sian-Viet­namese joint ven­ture “ MAZ Asia ”, Be­larus’s first in­vest­ment in this coun­try, was li­censed in Höng Yeân Prov­ince.

It has fin­ished con­struc­tion of a plant and ex­pects to pro­duce 1,500 Maz trucks a year in the first phase, Thaønh said.

“Be­larus firms also plan to in­vest in some other pro­jects in man­u­fac­tur­ing and dairy and set up a bus as­sem­bly plant in Vieät Nam,” he said.

As the coun­try’s eco­nomic hub, HCM City is a promis­ing lo­ca­tion for Be­laru­sian busi­nesses, he said.

De­nis Niko­laev, trade coun­selor at the Be­larus­sian em­bassy, said his coun­try has set up joint pro­duc­tion plants in Vieät Nam, trans­ferred tech­nol­ogy and trained hu­man re­sources.

Brylo said, “Be­larus is will­ing to shift from pure sales of goods to Vieät Nam to tech­nol­ogy trans­fer and set­ting up joint pro­duc­tion plants.”

Be­sides, Vieät Nam could act as a gate­way for Be­larus to ASEAN mar­kets while his coun­try could be one of the gate­ways for Viet­namese goods such as seafood, tea, cof­fee, and oth­ers to pen­e­trate the Eurasian Eco­nomic Union, he said.

An­drei Shakhanovich, deputy chair­man of the Be­laru­sian Cham­ber of Com­merce and In­dus­try, said 60 lead­ing busi­nesses, which are show­cas­ing their prod­ucts at the 2018 Vieät Nam Expo in HCM City and par­tic­i­pat­ing the fo­rum, hope to find new part­ners in HCM City.— VNS

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