VN investment in Cambodia reached US$1.5 bn

Tue, November 17, 2009
Rasmei Kampuchea
Asia News Network

Phnom Penh : Vietnamese investors consider Cambodia as a big potential investment destination in the future. So far, its investment in Cambodia has reached US$1.5 billion in the last few years in different sectors such as construction, agriculture, and banking sector.
Tran Bac Ha, chief of a delegation of Vietnamee investors told Prime Minister Hun Sen on October 16 that Vietnam government allowed three Vietnamese companies to invest in Cambodia in real estate, construction and agriculture.
Tran Bac Ha added that Vietnamese company planned to buy in 2010 between 300 000 and 400 000 tonnes of paddy from Cambodia to boost Cambodian economy and reduce poverty.
Recently, Vietnamese investors planned to plant rubber trees on 50 000 hectare in the Northeast of the country and they put in place the mobile phone company, Viettel, and at the same time, Vietnamese airline company has invested in running the Cambodian National Airline called "Cambodia Angkor Air". The joint venture investment costs $100 millions, of which , Cambodia holds 51 per cent and the rest belongs to Vietnamese side.
While the diplomatic row has increased between Thailand and Cambodia, Some Thai leaders threatened to close the border. But, in his reaction, Prime Minister Hun Sen threatened to stop buying Thai products and in stead using products from other countries.