July, 27 2010
VNS (Hanoi)
HA NOI — In the past year ,Vietnamese business groups have revved up investment in Cambodia and actively contributed to the country's social security programmes, said the Association of Vietnamese Investors in Cambodia (AVIC).
At a review meeting in Siem Reap on Sunday, AVIC said Viet Nam had become the third largest foreign investor in Cambodia, after China and the Republic of Korea.
Addressing the meeting, Tran Bac Ha, general director of the Bank for Investment and Development of Viet Nam (BIDV), which helped pave the way for Vietnamese businesses to set up representative offices in Cambodia, said Vietnamese investment to Cambodia had grown rapidly in the past year. Vietnamese businesses were granted licences for 63 projects with a combined investment capital of US$900 million.
Various Vietnamese economic groups and corporations have entered the Cambodian market, investing in different areas including telecommunications, finance and banking, air transport, agriculture, light industry, rubber and industrial tree planting, mining, energy and healthcare.
Aside from trade and investment activities, Vietnamese businesses have also pledged $6 million in funding to local social welfare schemes.
As part of the move to promote Vietnamese investment in the country, the Bank for Investment and Development of Cambodia (BIDC), a Cambodia-based affiliate of BIDV, opened a new branch in Siem Reap.
The BIDC earlier set up branches in HCM City and Phnom Penh in order to create a link between the financial markets of Cambodia and Viet Nam, and provide financial service packages for Vietnamese enterprises wishing to invest in Cambodia.
Vietnamese investors in Cambodia include the Viet Nam Military Telecom Corporation (Viettel), BIDV, the Viet Nam Coal and Minerals Corporation (Vinacomin), Viet Nam Airlines and Hoang Anh Gia Lai group.
At a review meeting in Siem Reap on Sunday, AVIC said Viet Nam had become the third largest foreign investor in Cambodia, after China and the Republic of Korea.
Addressing the meeting, Tran Bac Ha, general director of the Bank for Investment and Development of Viet Nam (BIDV), which helped pave the way for Vietnamese businesses to set up representative offices in Cambodia, said Vietnamese investment to Cambodia had grown rapidly in the past year. Vietnamese businesses were granted licences for 63 projects with a combined investment capital of US$900 million.
Various Vietnamese economic groups and corporations have entered the Cambodian market, investing in different areas including telecommunications, finance and banking, air transport, agriculture, light industry, rubber and industrial tree planting, mining, energy and healthcare.
Aside from trade and investment activities, Vietnamese businesses have also pledged $6 million in funding to local social welfare schemes.
As part of the move to promote Vietnamese investment in the country, the Bank for Investment and Development of Cambodia (BIDC), a Cambodia-based affiliate of BIDV, opened a new branch in Siem Reap.
The BIDC earlier set up branches in HCM City and Phnom Penh in order to create a link between the financial markets of Cambodia and Viet Nam, and provide financial service packages for Vietnamese enterprises wishing to invest in Cambodia.
Vietnamese investors in Cambodia include the Viet Nam Military Telecom Corporation (Viettel), BIDV, the Viet Nam Coal and Minerals Corporation (Vinacomin), Viet Nam Airlines and Hoang Anh Gia Lai group.
5 comments:
Stupid Government dont know what National Security mean...never learn never will.
I urges to all the Khmer people stop buy anythings from ah Youn made let these business going red.
I don't understand the intent of this article. The fact that Vietnam companies are investing in Cambodia is a BAD thing ? The country that pushed Pol POT from power ,and is hated from both China and USA.The Cambodia genocides are from USA-China not Vietnam...who give Khmers free visas-cheap good quality health care etc...Globalization is an American invention...Vietnam is just playing the game of capitalism.
The more Vietcong businesses enter Cambodian market and the more dirt poor Cambodian people will be and the more corrupted Cambodia will be become!
Please don't be fool by the so called Association of Vietcong Investors in Cambodia (AVIC) or the Bank for Investment and Development of Viet Nam (BIDV). Only the Vietcong business can thrive in the most corrupted country on Earth under AH Hun Sen Vietcong slave puppet leadership!
These Vietcong businesses are fly by night businesses and these Vietcong businesses are looking for quick profit at the expense of dirt poor Cambodian people and damage the health of Cambodian economy! It is a joke to make Cambodian people to depend too much on the Vietcong businesses to produce the goods and the services! Cambodian must have strong economic base on domestic and international trade and not with the Cambodian arch enemy the Siem and the Viet! The Siem and the Viet can take their goods and services somewhere else!
The Vietcong had been doing business in Cambodia since 1979.
Tell me! Cambodia as country is better than before or become a poorer country as result of the Vietcong monkey businesses involvement? In fact Cambodia become a poorer and more corrupted country on Earth!
Now AH HUN SEN is asking for more from the Vietcong monkey business??
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