VN, Cambodia aim for $8b
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 communitys 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 Cambodias 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 Industrys 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 , Belaruss 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 countrys 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