Ha Noi, Viet Nam (FN), Oct. 4 – Cambodian Prime Minister Hun Sen said on Friday that the bilateral trade volume between Cambodia and Viet Nam will reach over USD 5 billion at the end of 2019, addressing at the Vietnam-Cambodia Investment and Trade Promotion Conference, held in the afternoon of 4 October, at the invitation of His Excellency Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Viet Nam.

“In terms of trade, we are very pleased with the significant increase in bilateral trade volume, in which the figure rose to nearly USD 4.7 billion in 2018, up a further 24 per cent compared to 2017. In the first six months of 2019, the total trade volume reached USD 2.7 billion, and we expect to achieve more than USD 5 billion by the end of this year,” said the premier.

Vietnam's exports to Cambodia include iron, gasoline, textiles and garments, and agricultural products such as fish, meat and vegetables, as well as consumer goods, while Cambodia’s exports to Vietnam include cashew nuts, rubber, timber and wooden products, fruits and vegetable.

In terms of investment, according to the report of the Council for the Development of Cambodia from 1994 to August 2019, Cambodia approved 84 Vietnamese investment projects in a total investment of approximately USD 2.5 billion, of which agriculture accounts for about two-thirds of all investment projects. Viet Nam also invested in banking sector, insurance, and services.

Prime Minister Hun Sen took the opportunity to call on Vietnamese businesspeople and investors who have or have not visited Cambodia to learn more about investment potential and opportunities in Cambodia in order to invest or co-invest with Cambodian investors to maximize profits and Cambodia-Vietnam cooperation.

The premier reiterated that on behalf of the Royal Government, Cambodia ensured every investor with a favorable investment climate, especially peace, security and political stability as well as effective macroeconomic, legal and institutional framework, with transparency and accountability.