VOV (Hanoi)
VietNamNet Bridge - Two-way trade between Vietnam and Cambodia hit nearly US$1.7 billion in 2008, an increase of US$400 million from a year earlier, according to the Vietnamese Trade office in Phnom Penh.
Of the total figure, Vietnam exported US$1.45 billion worth of goods to Cambodia, the office said on January 10.
Between 2004-08, the volume of Vietnamese goods exported to the neighbouring country increased by 40 percent annually and the export value rose fivefold compared to the import value.
The leading export staples to Cambodia in 2008 were building steel, agricultural machines, fertilisers, plant pesticides, household utensils, farm produce, milk, seafood and petrol. Seafood products made up 80 percent of Cambodia’s market share, followed by building steel (68 percent) and farm produce (67 percent).
Cambodian exports were mostly wooden products, rubber latex, grains, unprocessed cashew nuts, tobacco and cassava.
By late 2008, 120 Vietnamese businesses opened their representative offices and showrooms in Cambodia.
Currently, Vietnam is Cambodia’s 10th largest foreign investor, with 19 licensed projects capitalised at US$228 million.
Of the total figure, Vietnam exported US$1.45 billion worth of goods to Cambodia, the office said on January 10.
Between 2004-08, the volume of Vietnamese goods exported to the neighbouring country increased by 40 percent annually and the export value rose fivefold compared to the import value.
The leading export staples to Cambodia in 2008 were building steel, agricultural machines, fertilisers, plant pesticides, household utensils, farm produce, milk, seafood and petrol. Seafood products made up 80 percent of Cambodia’s market share, followed by building steel (68 percent) and farm produce (67 percent).
Cambodian exports were mostly wooden products, rubber latex, grains, unprocessed cashew nuts, tobacco and cassava.
By late 2008, 120 Vietnamese businesses opened their representative offices and showrooms in Cambodia.
Currently, Vietnam is Cambodia’s 10th largest foreign investor, with 19 licensed projects capitalised at US$228 million.
5 comments:
Hmm ... I was hoping to see 2 billions, but 1.7 billions is acceptable.
There is nothing to lose for Vietnam. The more Vietnam sells, the more money Vietnam can have and the poorer Cambodia. What the government ought to do is helping Cambodian budding companies to sell more abroad. The government must help to facilitate these budding companies. They are the bread and butter for the Cambodian economy and employ the most people.
I don't think Hun Sen really understand the state of Cambodian economy especially the concept of free market! I heard him saying that Cambodia is a free market and he can’t intervene especially on the price of goods and services! The fact is there is no such thing as 100% of free market anywhere in the world!
I myself find it very hard to start business in Cambodia because of the corruption, monopoly, and misleading product advertisements, and products dumping on Cambodian market by the Vietnamese and the Thai and of course the attitude of the Cambodian people too who favor the buying of foreign products which they view as good quality! But the fact is there are no independent testing facilities to verify if these foreign products are as good as Cambodian product!
Cambodia is loosing economic war because Hun Sen government would rather spending a lot of his time begging international community for money without giving much thought to the state of Cambodian economy while Cambodian economy in disarray due to cutthroat and unfair competition from the Vietnamese and the Siam.
"By late 2008, 120 Vietnamese businesses opened their representative offices and showrooms in Cambodia."
Why the Vietnamese government was able to promote their businesses in Cambodia and Hun Sen government can not promote Cambodian businesses? What happen to Hun Sen rectangular economic strategy?
Can Mong Rethy come to the rescue of Cambodian economy?
Can Sok Kong come to the rescue of Cambodian economy?
The fact is only a few powerful people in Cambodia who control everything in Cambodia that is why majority of dirt poor Cambodian people can't do anything even if majority of dirt poor Cambodian people have the right ideas.
Cambodia will have to wait many more generations to overcome their backwardness.
They did the same thing oversea too, and they hire a bunch of Ah Pleu there.
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