Collectors prepare harvested rubber for sale to traders. Vietnam remains a major customer, consistently purchasing the commodity from Cambodia each year. Yousos Apdoulrashim
Cambodia has urged Vietnamese financiers to expand their investments or form partnerships with Cambodian companies, particularly in production chains linked to Vietnam’s supply chains. This comes as bilateral trade between the two nations surpassed $7 billion.
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Chea Vuthy, secretary-general of the Cambodian Investment Board (CIB) under the Council for the Development of Cambodia (CDC), made the remarks during the Cambodia-Vietnam Business and Investment Forum on “Enhancing Cross-Border Trade and Digital Economy Cooperation.”
The forum was held in Phnom Penh on December 25 and was co-organised by the Ministry of Industry and Trade of Vietnam, the Vietnam Trade Office in Cambodia and the Vietnam-Cambodia Business Association (VCBA).
The forum aimed to facilitate connections between Cambodian and Vietnamese investors and businesses, providing a platform to establish relationships, exchange information and discuss opportunities in cross-border trade and the digital economy.
Vuthy highlighted that the event served as a direct platform for domestic and Vietnamese businesses to explore investment opportunities in Cambodia. He pointed to key sectors that could connect with Vietnam’s production supply chains, such as agriculture, agro-industry, automobile assembly, electronics, digital and financial technology and other industrial areas.
“I encourage [the Vietnamese] to continue investing in Cambodia or partner with Cambodian companies in more sectors, especially those with high potential that can link to supply chains of production in Vietnam,” he stated.
“For investors and businesses who have not yet invested in Cambodia, I invite you to study and understand more about the vast potential and many opportunities available, and to make decisions quickly to benefit from investment opportunities in Cambodia,” he added.
Vuthy also underscored the growing significance of e-commerce in today’s rapidly evolving economic environment. He noted that digital trade reduces costs and time, enhances sales and productivity and facilitates rapid market expansion, presenting a vital avenue for both Cambodian and Vietnamese businesses to explore.
According to the CDC, Vietnam ranked as Cambodia’s third-largest investor from January to November, with a total investment of $557 million.
The General Department of Customs and Excise (GDCE) reported that trade between the two nations during this period reached $7.09 billion, a 20.6% increase compared to the same timeframe in 2023.
Exports to Vietnam totalled $3.3 billion, marking a 26.3% rise, while imports from Vietnam amounted to $3.79 billion, a 16% increase. This resulted in a trade surplus of $492.34 million for Cambodia, though lower than the $655.05 million surplus recorded in the same period in 2023. Vietnam remains the country’s third-largest trading partner after China and the US.
Lim Heng, vice-president of the Cambodia Chamber of Commerce, told The Post on December 26 that trade between the two countries has steadily grown, particularly Cambodian exports, which have increased significantly compared to over a decade ago when exports were minimal in relation to imports.
He expressed optimism that the trade volume would further rise once the Phnom Penh-Bavet Expressway, which connects Cambodia to the Vietnam border, becomes operational.
Heng attributed the rise in the country’s export value to agricultural products, noting that the shared border between the two countries likely means the actual trade volume is even higher than reported figures.
“In addition to goods trade, many Vietnamese companies are currently investing in Cambodia, especially in projects related to agriculture, agro-industry and natural resources,” he said.
Key Cambodian exports to Vietnam include rice, rubber, cashew nuts, cassava, corn, bananas, mangoes and pepper. In return, Vietnam exports construction materials, machinery, fuel, electronics, agricultural tools, spices and vegetables to Cambodia.
Vietnam also contributes significantly to Cambodia’s tourism sector. According to the Ministry of Tourism, Cambodia welcomed 1.2 million Vietnamese tourists from January to November, an increase of 30.8% compared to the same period in 2023. Vietnam ranks as the country’s second-largest source of tourists after Thailand, which contributed 1.91 million visitors.
