Vietnam among top five foreign investors in Cambodia

Vietnam is now the third biggest trade partner of Cambodia, with two-way trade reaching USD 3 billion in 2016. 

Vietnam Dairy Products Joint Stock Company, or Vinamilk, will earmark almost US$11 million to buy its Cambodian partner’s entire stake in Angkor Dairy Product Company Limited (Angkormilk) in Phnom Penh, Cambodia. 

In the first two months of 2017, bilateral trade hit 624.1 million, up 21.2 percent compared to the same period last year. The two countries are striving to increase the figure to USD 5 billion. 

The figures were released by Vietnamese Ambassador to Cambodia Thach Du at a recent business conference. 

He attributed thriving trade ties to the two countries’ friendship, close geographic location and government support, adding that there is potential for further economic cooperation. 

Organised by the Vietnam Embassy in Cambodia, the conference gathered some 100 Vietnamese investors in the country, including the Vietnam Rubber Group and Metfone – an arm of the military-run telecommunication group Viettel.

Source: VNA