April 24, 2011

Cambodian market welcomes Vietnamese businesses


Prime Minister Nguyen Tan Dung’s official visit to the Kingdom of Cambodia is expected to open up more opportunities for Vietnamese investment in the country as well as bilateral economic cooperation.

Many major Cambodian newspapers run articles about it and reviewed positive achievements in bilateral trade.

In 2010, trade revenues between Vietnam and Cambodia hit more than US$1.8 billion, up more than 35 percent from the previous year. Vietnam also invested over US$2 billion in nearly 90 projects in Cambodia.

Nearly 470,000 Vietnamese tourists visited Cambodia in 2010, ranking first and accounting for one fourth of the country’s total foreign tourists.

A Cambodian entrepreneur of Vietnamese descent, Xieng Minh, told VOV that he hoped PM Dung’s visit will help Vietnamese enterprises boost the presence of their goods in Cambodia. He added that Vietnam’s agricultural products have secured a firm foothold in the market and he expects more opportunities in other fields.

DPM (PetroVietnam Fertilizer & Chemicals Company) is an example of a successful Vietnamese business that brings practical benefits to the local people.

In 2010, DPM transferred techniques to some Cambodian farmers and helped them double their rice output to nearly nine tonnes per hectare. This year, the company has set a target to expand this technical transference to three provinces – Kampang Cham, Kampang Thum, and Kandal.

Kieng Kieng, a farmer from Kandal province, praised Vietnamese experts for giving farmers like him expertise in rice cultivation and helping them create a better model for growing rice. “Before this we farmers only cultivated according to our experience,” he said.

With assistance from Vietnamese agriculturists, Cambodia is expected to achieve its target of exporting one million tonnes annually by 2015.

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