Vietnamese businesses seek foothold in Cambodia

Representatives from about 30 Vietnamese businesses discussed how to work together to continue promoting Vietnamese products in Cambodia at a seminar in Phnom Penh on April 4.

Thursday, April 04, 2013 21:26

Representatives from about 30 Vietnamese businesses discussed how towork together to continue promoting Vietnamese products in Cambodia ata seminar in Phnom Penh on April 4.

The seminar,co-organised by the Ho Chi Minh City Investment and Trade PromotionCentre and the Bank for Investment and Development of Cambodia, is partof the Vietnam-Cambodia trade and service exhibition (HCM City Expo2013) that opened in Phnom Penh on April 3.

Addressing the event, Vice Chairwoman of the HCM City People’s CommitteeNguyen Thi Hong attributed the development of businesses from Vietnamand HCM City in particular to the effective support of Vietnamesebanks in Cambodia.

Once Vietnamese products gaina firm foothold in Cambodia, the banks will offer more suitablecredit packages to the businesses, she said.

FiveVietnamese commercial banks have opened branches in Cambodia, whichare funding most of the key projects in the country, including the 27million USD Cho Ray-Phnom Penh Hospital, a fertiliserfactory worth 62 million USD, and a 80 million USDelectricity-sugar-ethanol factory.

The banks alsotarget projects in rice export, mineral exploration and exploitation,hydropower site survey and rubber tree plantations near the twocountries’ shared border.-VNA

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