Tu Hoang
The figures were estimated by the Association of Vietnamese Investors in Cambodia (AVIC) in a statement released on December 25 on the occasion of Vietnamese State President Truong Tan Sang’s official visit to Cambodia.
The association’s chairman Tran Bac Ha said as of last year, Vietnamese firms had pledged some US$3 billion for their projects in the neighboring country.
More than 50 large projects have come online, including the rubber farms of Hoang Anh Gia Lai Group and Vietnam Rubber Group, Five Stars International Fertilizer Company, Cho Ray-Phnom Penh Hospital, sugarcane refining complex, and ethanol and thermal power plants of Kamdhenu Ventures Cambodia Limited (KVCL).
The remaining projects are in the financial, aviation, and telecommunications sectors.
At the meeting with President Sang on December 25, Ha suggested the two countries review the bilateral economic agreements signed between the two governments to find ways to facilitate the operations of the association’s member firms in Cambodia.
The two governments should sign an agreement on double taxation avoidance and swiftly complete related procedures so that the Investment Promotion and Protection Agreement between Cambodia and Vietnam and a revision protocol for this agreement will come into force soon.
According to AVIC, bilateral trade between the two countries grew 30% annually in 2009-2013 on average and the association put two-way trade this year at more than US$3.5 billion.
Đăng ký: VietNam News
