Prime Minister Pham Minh Chinh and his Cambodian counterpart Samdech Thipadei Hun Manet witness the awarding of cooperation agreements and investment certificates between Vietnamese and Cambodian enterprises, Ha Noi, December 12, 2023

Speaking at the event, the Cambodian PM said that Viet Nam is the first ASEAN nation he has visited since he took office in August.

He expressed his belief that the visit will pave the way for fostering the bilateral ties, remarkably in fields of trade, investment and service.

Viet Nam is currently the second biggest tourist source market of Cambodia while more than 320,000 Cambodians visited Viet Nam, he noted, expecting that Vietjet will open more air routes connecting the two countries.

There are ample rooms for economic ties to flourish, especially when the two nations share the same production supply chain and join the Regional Comprehensive Economic Partnership (RCEP), shared the Cambodian leader.

Cambodia is actively implementing the Pentagon Strategy, and continues to improve the business investment environment, attach importance to private economic development, and develop strategic infrastructure connecting with Viet Nam, Hun Manet emphasized.

The Cambodian Government will create more favorable conditions for foreign investors, including those from Viet Nam, and encourage investors from Viet Nam to pour more investment in Cambodia, especially in such areas as high-tech agriculture, processing industry, digital technology, finance and automobile production, the guest reiterated.

Prime Minister Pham Minh Chinh addresses the Viet Nam-Cambodia trade and investment promotion forum, Ha Noi, December 12, 2023 

For his part, PM Pham called on investors to continue investment and promote trade between the two countries, not only for the development of businesses, but also for stronger traditional friendship.

He proposed their businesses strengthen linkages with a focus on institution, finance, transport, electrical energy, telecommunications, and tourism as well as exchange experience in terms of developing policies to maintain macroeconomic stability and improving the business investment environment.

Enterprises should uphold social responsibility, create jobs with stable income, protect the environment and implement social security policies, underscored Pham.

Viet Nam will facilitate the two sides' businesses to promote effective investment and cooperation, he pledged.

Viet Nam-Cambodia trade value witnesses an annual growth of over 20 percent during 2015-2022. The bilateral trade value exceeded US$10 billion in 2022.

Regarding investment, Viet Nam currently has 205 valid investment projects in Cambodia with a total registered capital of US$2.95 billion, ranking first in ASEAN and in the top 5 foreign investors in the country. Notably, Cambodia is the second largest Vietnamese investment recipient abroad.