April 22, 2019 | 20:48 (GMT+7)
Vietnam invests in 190 projects in Cambodia
Vietnam has so far invested in 190 projects worth nearly 2.9 billion USD in Cambodia, according to the Saigon Giai phong (Liberated Saigon) newspaper.
Meanwhile, Cambodia has poured 65 million USD into 19 projects in Vietnam.
Vietnam is now the third largest trade partner of Cambodia. Two-way trade hikes 9.8 percent on average each year.
In 2018 alone, it surpassed 4.7 billion USD, up nearly 24 percent year-on-year. Of the figure, 3.7 billion USD was Vietnam’s exports to Cambodia.
According to the tax reduction roadmap under the ASEAN Trade in Goods Agreement (ATIGA), almost all exports-imports between Vietnam and Cambodia are eligible to a 0-5 percent tariff.
The double taxation avoidance and tax evasion agreement between Vietnam and Cambodia, which took effect on February 20, will be applied in the two nations in early 2020.
Source: VNA