At this meeting, the leaders of the ministries and departments concerned of the two countries have exchanged and discussed with representatives from the business community about the strategy to attract foreign investment in Cambodia regarding the latest mechanism and policy in attracting and managing foreign investment, as well as the mechanisms and incentives to encourage investment by the Royal Government of Cambodia to foreign investors, especially the investors in Vietnam. The ministries and branches involved of Vietnam will exchange and discuss the mechanism and policies of Vietnam to promote and create favorable conditions for Vietnam’s businesses to invest in Cambodia.

Apart from the official meeting on December 26^th, 2009, the Ministry of Planning and Investment in collaboration with the Cambodia’s Development Council hosted Conference on Vietnam’s investment promotion into Cambodia” in Ho Chi Minh City on December 25^th, 2009. At this meeting, managers and professionals representing the ministries, departments and enterprises of Vietnam and Cambodia spent time exchanging and discussing in depth the mechanisms and policies of both countries as well as coordination mechanisms with the agencies concerned of both sides in order to create favorable conditions and promote more strongly the investment of Vietnam’s businesses into Cambodia. The results of the discussion at the Conference on December 25^th, 2009 will be reported at the official meeting on December 26^th, 2009. 

In addition, within the framework of the Conference on Vietnam’s investment promotion into Cambodia, there were other activities such as the signing of the MOU between the Minister of Industry and Trade of Vietnam and the Minister of Public Industry, Mines and Energy of Cambodia for the exploration and exploitation of bauxite ore in Cambodia; the signing of the MOU between the Ministry of Planning and Investment of Vietnam and Cambodia’s Development Council to promote investment cooperation; giving the Certificates of investment; the signing of a number of financial sponsorship agreements between banks and companies for the investment projects of Vietnam into Cambodia; launching the Association of Vietnam’s Investors in Cambodia and opening branches of Cambodian businesses in Ho Chi Minh City.

The organization of this Conference on Vietnam’s investment promotion into Cambodia is to strengthen the good traditional relations of friendship between the two countries and promote the investment cooperation between Vietnam and Cambodia. This is the opportunity for the functional agencies of Cambodia to provide information about the investment policies in Cambodia, the potential for investment cooperation and the specific investment projects in Cambodia; furthering the investment activities of Vietnam’s enterprises in in Cambodia market. The Conference is also the opportunity for the concerned agencies, businesses and investors of both countries to exchange experiences and promote cooperation in the field of investment promotion.

According to the Ministry of Planning and Investment, Vietnam currently has 63 investment projects in Cambodia with the total registered investment capital of nearly US$900 million and the average size of investment of US$14.2 million per project. Cambodia is one of the top three countries in attracting investment abroad from Vietnam in the total of 50 countries and territories with the investment activities of Vietnam’s enterprises. In general, the investment projects of Vietnam in Cambodia have been well deployed, particularly in the field of forestry, agriculture, minerals and telecommunications, banking, insurance; many projects in the field of large mineral are being explored by the Vietnamese investors./.

(F.I.A)