Phnom Penh (VNA)💎 - Many Cambodian newspaperssuch as SBM NEWS, Phnom Penh Post, CNC, Khmer Times, and Nokorwat News Daily have highlyappreciated Cambodia's potential for cooperation and investment promotion withVietnamese businesses.

They have run several articles with topics revolving around working meetings andcommunication connections, and trade between the Vietnam – Cambodia BusinessAssociation (VCBA) with Cambodian ministries and agencies such as theCambodia Development Council (CDC), the Cambodian Ministry of Agriculture,Forestry and Fisheries, and the Cambodian Chamber of Commerce in Cambodia on March 7-8. The articles were published in both Khmer andEnglish, focusing on the meeting and workingsession between the VCBA business leaders and DeputyPrime Minister Sun Chanthol, who is also First Vice President of the Council for theDevelopment of Cambodia (CDC), in which the two sides agreed tocooperate in promoting Cambodia's potential to attract Vietnamese investors. The SBM NEWS news website said that at the meeting, VCBA Chairman Oknha Leang Rithy pledged efforts to cooperate with the CDC to introduce Cambodia's potential to Vietnamese investors in an attempt toattract investment to various fields, especially agriculture. Oknha Leang Rithy also expressed hisimpression with Cambodia's remarkable development, especially efforts ofthe new government. He shared his experience in the processof investing and doing business in the agricultural sector in Cambodia,especially the rice and rubber industries. For his part, the CDC First Vice President emphasisedCambodia's favourable factors for investors such as a peaceful environment,economic stability, open investment laws, and a favourable infrastructuresystem. Sun Chanthol also thanked investors for choosing Cambodia,and expected businesses operating in Cambodia to continue expanding theirinvestment scale. Meanwhile, the Cambodian People's Party (CPP) website said thatVCBA Chairman Oknha Leng Rithy led a VCBA delegation including representativesof 16 companies to meet with Deputy Prime Minister Sun Chanthol. Leng Rithy pledged to cooperate with the CDC to promoteCambodia's potential in attracting Vietnamese investors to many, especially agriculture, in Cambodia. The Phnom Penh Post newspaper said that trade turnoverbetween Cambodia and Vietnam is expected to grow as VCBA representativescommit to promoting investment opportunities for Vietnamese investors inCambodia. Leng Rithy said theassociation's members are interested in Cambodia's rapid development, especiallythe efforts of the new government during the seventh National Assembly tenure. He also affirmed that through effective cooperationwith the CDC, the VCBA is committed to enhancing the introduction of Cambodianinvestment opportunities to more Vietnamese investors. Phnom Penh Post quoted Leng Rithy as saying that the VCBA willcooperate with the CDC to introduce Cambodia's potential to investors in Vietnam. Chea Chandara, Chairman of the Logistics and SupplyChain Business Association in Cambodia (LOSCBA), said that as a country that shares borderd and maintains strong diplomatic relations with Vietnam, Cambodiahas been witnessing a continuous increase in import-export activities and directinvestment capital flows from Vietnam. He explained that cross-border transportationactivities are conducted regularly, in which Cambodia exports a large amount ofagricultural products to Vietnam such as rice, rubber, cashew nut, cassava,corn, bananas, mango, and tobacco, and natural resources. The LOSCBA Chairman assessed that imports from Vietnam arediverse, including food, daily necessities, machinery,electrical equipment, electronic components, chemical fertilisers, andconstruction materials. He emphasised that the growth momentum of import andexport between the two countries is increasing, and so is the number of Vietnameseinvestors coming to do business in Cambodia. Meanwhile, on March 8, the CNC news site reported thatNeak Oknha Lim Heng, acting President of the Cambodian Chamber of Commerce(CCC), had a meeting with a VCBA business delegation led by ChairmanLeng Rithy. The meeting aimed at establishing even closer relationships with the CCC, as well as other relevant organisations in Cambodia. At the meeting attended by leaders of large Vietnameseand Cambodian businesses, the two sides agreed to expand cooperation. The CNC news site said that the presence of many largeVietnamese business leaders in the fields of telecommunications, banking, andaviation, among others, has shown that Vietnamese investors are doing businesssuccessfully in Cambodia. Neak Oknha Lim Heng said that in recent times, the CCC hasparticipated in resolving many difficulties and problems between Vietnameseinvestors and local relevant agencies. To effectively implement the BorderTrade Agreement between the two countries, its leaders proposed that the twosides discuss issues towards establishing the Cambodia-Vietnam BusinessCouncil to promptly resolve difficulties and bottlenecks of businesses, aswell as people in border areas and the private sector. The VCBA was licensed by the Ministry of Home Affairs ofCambodia and officially established at the end of January 2024, on the basisof upgrading the Vietnam Business Association in Cambodia which wasfounded in 2018 with more than 100 member companies./.