Government of the Socialist Republic of Vietnam : Vietnamese-invested bank enters Top 5 in Cambodia [... thanks to Hoon Xhen!]

08/16/2012
By Ngoc Van
4-traders.com

VGP - After nearly 3 years of operation, the Bank for Investment and Development of Cambodia (BIDC), a subsidiary of the Bank for Investment and Development of Vietnam (BIDV), entered the list of the top five banks in Cambodia.

Addressing the inauguration ceremony of the new head office of BIDC in Phnom Penh on August 13, Mr. Nguyen Van Hien, BIDC General Director said the bank's total asset reaches nearly US$480 million, and its outstanding loans are over US$320 million.

With the establishment of the Phnom Penh branch, BIDC confirms its strong and firm operation in the Cambodian market, contributing its part to boosting the Cambodian economy, he said.

More Vietcong bloodsugar coming up in Svay Rieng

Viet Nam invests over VND110 billion in sugar planting in Cambodia


July, 26 2012
VNS (Hanoi)

Ha Noi— Sugar factories from Tay Ninh Province have spent over VND110 billion (US$5 million) to plant sugar cane in Cambodia's Svay Rieng Province for the 2012-2013 crop, said the Tay Ninh People's Committee.

The Bien Hoa- Tay Ninh and Bourbon-Tay Ninh sugar factories are in a joint venture with their Cambodian partners to plant 3,500 hectares of sugar cane on plantations that will provide materials for these Vietnamese sugar factories. Vietnamese sugar producers have planted the crops in Cambodia as sugar cane in Viet Nam has faced stiff competition for farmland from other crops such as cassava and rubber.

However, Vietnamese investors said poor infrastructure has made it difficult to transport sugar cane to Viet Nam. Provincial authorities met last week to discuss measures to tackle these difficulties in a bid to promote trade and business ties between the two provinces in the time to come.

Cavifoods allowed to open rice mill in Nom Benh by Hoon Xhen?

Cavifoods firm opens rice-milling facility

April, 02 2012
VNS (Hanoi)

PHNOM PENH — The Cambodia - Viet Nam Foods Company (Cavifoods) on March 30 opened a rice-milling plant in Phnom Penh that is expected by May to have the largest capacity and best product quality of any milling plant in the country.

When the plant opens its second production line in May, it will become fully operational, with a total capacity of 40,000 tonnes, according to Doan Anh Sang, Cavifoods chairman.

Cavifoods has three shareholders, Viet Nam's Cambodia Investment and Development Company (IDCC), Viet Nam Southern Food 2 Corp (Vinafood2) and the local company Green Trade, which represents 33 per cent, 37 per cent and 30 per cent, respectively, of the nearly US$8 million in charter capital.

The company targets exporting 250,000 tonnes per year by 2015, which would represent 25 per cent of rice exports from Cambodia, according to Tran Bac Ha, chairman of the Association of Vietnamese Investors in Cambodia and chairman of the Bank for Investment and Development of Viet Nam, a major shareholder in IDCC.

Comrade Men Xam An at the inauguraton of Yuon bank in Nam Vang, Nambodia

The launching ceremony (Source: Vietnamplus)

Bank launches operations in Cambodia

11/02/2012
Vietnamplus

The Saigon-Hanoi Commercial Bank (SHB) opened its doors in Phnom Penh on Feb. 9, aiming at boosting trade and economic relations with Cambodia.

Speaking at the launching ceremony, SHB Chairman Do Quang Hien said SHB considers Cambodia the first foreign investment market in its long-term strategy to make itself a modern retail bank of Vietnam and the region.

Cambodian Permanent Deputy Prime Minister Men Sam An highly valued SHB’s move to launch the branch in Cambodia . She said the decision proves firm confidence of foreign investors, including those from Vietnam , in the Cambodian economy.

Building Democracy via Skype

Monday, January 02, 2012
By Mu Sochua

Sam Rainsy Party - main opposition does not slow down despite absence of their leader in Cambodia.

As senatorial electoral campaign is nearing, all SRP teams are working even harder to ensure all system is secure for president Sam Rainsy to campaign via teleconference.

Amazing results: in the same morning, president Sam Rainsy can travel from Bantey Meanchey, to Kratie- from North West to North East of Cambodia, switching from phones to phones, from communes to communes!

Even from inside the forests of Cambodia, democracy is taking roots.

Over 100 villagers called and connected with president Sam Rainsy to complain about the unjust grabbing of their land by a Vietnamese company in Kratie. The head of the villagers is a woman. They have always voted for the ruling party.

"Silence" is not in the vocabulary of SRP.

Telecom Cambodia inks cooperation deal with VNPT

Tuesday 20 December 2011
TelecomPaper

State-owned Telecom Cambodia has signed a business cooperation agreement with state-owned Vietnam National Post and Telecommunications in order to bolster TC's product portfolio and coverage area, reports The Phnom Penh Post citing company officials. Telecom Cambodia offers both fixed-line phone and inte rnet services in the Kingdom. Vietnam National Post and Telecommunications will provide the technology and equipment necessary for Telecom Cambodia to grow its operations in the Kingdom, and in turn allow the company to better compete in a crowded sector, TC director general Lao Saroeun said. He said that this deal will help them to increase number of customers, expanding business activities and generating more revenue. The boost in services would also result in lower prices for customers, he added. Lao Saroeun declined to offer the financial details of the agreement, which is set to begin early next year, saying only that some kind of revenue-sharing agreement would be reached. Vietnam National Post and Telecommunications officials could not be reached for comment.

អ្នក​ឃ្លាំមើល​និយាយ​អំពី​ឧក្រិដ្ឋកម្ម​ព្រៃ​ឈើ​នៅ​កម្ពុជា - Forest crimes in Cambodia: Observers

Try Pheap (L) sitting behind Mok Mareth (frist row) (Photo: CEN)

Aerial photos showing forest destruction in Cambodia  - រូប​ថត​ពី​លើ​អាកាស​នៃ​ទិដ្ឋភាព​ព្រៃ​ឈើ​នៅ​កម្ពុជា​ដែល​រង​ការកាប់​បំផ្លាញ។ (Photo courtesy of Global Witness)

12 Nov 2011
Taing Sarada
Radio Free Asia
Translated from Khmer by Oss Dey Oss Prey

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Forest conservation groups in Cambodia indicated that precious woods in the central Cardamom region (Phnom Krovanh) of the Boeung Per wildlife refuge and in the Virakchey natural park have been logged and the woods are taken out for sale to Vietnam in large quantity.

The groups pointed out tycoon Try Pheap as being the culprit crook involved in the deforestation. Try Pheap is known as a close supporter of the ruling CPP party and he is also closely linked to the RCAF – Cambodia’s armed forces. Try Pheap is the man behind an unnamed Vietnamese company involved in the deforestation under the guise of economic concession or development planning.

Chhuth Vuthy, chairman of the Cambodian-based natural resources protection organization, said that tycoon Try Pheap received several thousands of hectares in land concession in the central Cardamom mountain, between Pursat and Koh Kong provinces, under the guise of electricity development. But, in reality, it is just a front end to hide illegal logging of Cambodian previous woods by Vietnamese companies who are protected by Try Pheap.

Cambodian workers for Viet companies cannot join Pchum Ben celebration

កម្មករ​ខ្មែរ​ធ្វើ​ការ​ឲ្យ​វៀតណាម​មិន​បាន​ទៅ​ចូល​រួម​បុណ្យ​ភ្ជុំបិណ្ឌ​ទេ

ដោយ រដ្ឋា វីសាល
2011-09-26
RFA

Synopsis: About 500 to 600 workers at the Vietnamese Dac Lac rubber company, located in Bousra commune, Pechreada district, Mondulkiri province, did not receive compensation from the company for the Pchum Ben celebration. Without this pay, the workers cannot travel to their villages to celebrate the Pchum Ben season. An administrator of the Viet company recognized that the payment is late, but the workers indicate that this company always pay the workers late.

កម្មករ​ចម្ការ​កៅស៊ូ​នៃ​ក្រុមហ៊ុន​វៀតណាម​មួយ​ឈ្មោះ ដាក់​ឡាក់ មាន​ទីតាំង​នៅ​ឃុំ​ប៊ូស្រា ស្រុក​ពេជ្រាដា ខេត្ត​មណ្ឌលគិរី ប្រមាណ​ពី ៥០០​ទៅ​៦០០​នាក់ មិន​បាន​បើក​ប្រាក់​កម្រៃ​ពលកម្ម​ពី​ក្រុមហ៊ុន​ដើម្បី​ទៅ​ចូល​រួម​បុណ្យ​ភ្ជុំបិណ្ឌ​ទេ។

អ្នក​យក​ព័ត៌មាន​វិទ្យុ​អាស៊ី​សេរី លោក រដ្ឋា វីសាល រាយ​ការណ៍​ឲ្យ​ដឹង​នៅ​ថ្ងៃ​ច័ន្ទ ២៦ ខែ​កញ្ញា ឆ្នាំ​២០១១ ថា កម្មករ​ប្រមាណ​២០ ក្នុង​ចំណោម​កម្មករ​ទាំង​អស់​បាន​ប្រតិកម្ម​ថា ពូក​គេ​នឹង​ខក​ខាន​មិន​បាន​ទៅ​ស្រុក​កំណើត​ជួប​ជុំ​ក្រុម​គ្រួសារ ដោយ​សារ​តែ​ក្រុមហ៊ុន​មិន​បើក​ប្រាក់។

Viet Fertiliser giant opens branch in Cambodia

August, 02 2011
VNS

Phnom Penh — The PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo) officially opened a branch in Cambodia last Friday in an attempt to sell products directly to local farmers.

Since the establishment of its representative office in Phnom Penh in May 2010, PVFCCo, an affiliate of the Viet Nam National Oil and Gas Group (PetroVietnam), has sold around 6,000 tonnes of urea to Cambodian companies.

PVFCCo Chairman Bui Minh Tien said the inauguration of the Phnom Penh branch would help the company better serve the Cambodian market.

Vietnam businesses eyeing the Kingdom

Wednesday, 27 July 2011
May Kunmakara and Sim Virinea
The Phnom Penh Post

Cambodia offers plenty of opportunity for Vietnamese investors, though challenges such as high transportation costs and a shortage of skilled labour remain, experts said yesterday.

Represents of about 100 Vietnamese firms met with Cambodian counterparts yesterday for a one-day Oversea Entrepreneur Forum in Phnom Penh, organised by the Vietnamese embassy, said Vietnam commercial attaché Tran Tu.

“I think Cambodia is making improvements to infrastructure, but it could be developed more as the cost of transportation is higher than Vietnam,” he said.

Vietnamese companies expand reach in Cambodia [... thanks to comrade Hoon Xhen]

25/06/2011
VOV News (Hanoi)

The Vietnamese-invested Bank for Investment and Development of Cambodia (BIDC) and Cambo Pay Company on June 24 officially launched a new service venture – SMS Banking – in Cambodia.

Vu Thinh Cuong, commercial counsellor at the Vietnamese Embassy in Cambodia , BIDC Director General Nguyen Van Hien and Cambo Pay Chairman Tran Tri Manh attended the launch ceremony.

The opening of SMS Banking services tapped a business trend compatible with the Cambodian market, home to some 6.5 million mobile subscribers out of a 14-million population, Manh said, noting that most subscribers also had bank accounts.

Viet businesses meet in Phnom Penh

June, 24 2011
VNS

HA NOI — The Viet Nam Business Association in Cambodia opened its first general meeting in Phnom Penh on Wednesday, almost one year after it was founded on August 15, 2010. [KI-Media Note: How come there is Cambodian Business Association in Vietnam?]

A congratulatory letter from Deputy Foreign Minister Nguyen Thanh Son was read out at the meeting, which praised the association for helping overseas businesses fulfil their investment and business potential.

Son, who also acts as Chairman of the State Committee for Overseas Vietnamese, recognised expatriate businesses' assistance to the Vietnamese community in Cambodia and their efforts to promote Vietnamese products. 

Vietnamese Ambassador Ngo Anh Dung called on Vietnamese businesses to abide by Cambodian law and take care of the Vietnamese-Cambodian community. (sic!)

First Vietnamese Vietcong securities firm makes debut in Cambodia

First Vietnamese securities firm makes debut in Cambodia

04/05/2011
Vietnamnet Bridge (Hanoi)

Cambodia-Vietnam Securities Co (CVS) has become first Vietnamese joint venture securities firm to make its debut in Cambodian capital of Phnom Penh.

The debut of the company with a chartered capital of $10 million has taken place on the sideline of Vietnam-Cambodia Investment Promotion Conference under the chair of the prime ministers of the two countries.

CVS was established by founding shareholders such as Bank for Investment and Development of Cambodia (BIDC), Cambodia Development and Investment Joint Stock Co (IDCC), Bank for Investment and Development of Vietnam (BIDV), Cambodia-Vietnam Insurance Joint Stock Co (CVI) and BIDV Securities Co (BSC).

One more step toward Uncle Ho's Indochinese Federation: the combination of the two economies

Promoting Vietnam-Cambodia economic cooperation

(VOV) - More than 300 Vietnamese and Cambodian businesses attended the second Vietnam-Cambodia Investment Promotion Conference in Phnom Penh on April 24.

The conference, co-chaired by Vietnamese Prime Minister Nguyen Tan Dung and Cambodian Prime Minister Samdech Hun Sen, is an important information channel for both governments and businesses to boost economic and investment cooperation.

It is a chance for the two countries’ ministries and organizations to review the investment situation, and update economic development strategies and preferential policies for investment in Cambodia.

The conference also aims to lay a firm foundation for signing agreements on double taxation avoidance and on the combination of the two economies.

Dung chairs trade conference in Cambodia [-Vietnam is in all business sectors in Cambodia]

Prime Minister chairs trade conference in Cambodia

April, 23 2011
VNS (Hanoi)

HA NOI — Prime Minister Nguyen Tan Dung is in Cambodia today, where he is co-chairing a two-day Viet Nam-Cambodia investment promotion conference expected to boost bilateral trade and investment ties.

Dung is also scheduled to attend the opening ceremony of the Cambodia-Viet Nam Securities Joint Stock Co and witness the handover of overseas investment licences to Vietnamese businesses.

Around 100 Vietnamese businesses are slated to be represented at the second annual investment conference opening today, where both sides are also expected to sign a number of new deals, review investment co-operation results since the first conference, and discuss measures to boost co-operation in investment, trade and tourism.

Bilateral trade has increased from US$1.33 billion in 2009 to $1.8 billion in 2010. Viet Nam has almost 90 investment projects in Cambodia with a combined capital of more than $2 billion. These projects include rubber plantations, mining, oil and gas exploration, electrical development, telecommunications, and finance and banking. The two countries have also shown a keen interest in promoting bilateral ties in education and training, healthcare and transportation.

Facilitating Viet business: A goal of Hun Xen's subservient regime

Cambodia hosts Ho Chi Minh City Expo 2011

07/04/2011

(VOV) - As many as 150 Vietnamese businesses have taken part in the Ho Chi Minh City Expo 2011 being held in Phnom Penh from April 6-10.

On display are a wide range of high quality products for Cambodian customers to choose, including garment and textiles, plastics, agricultural products, decorative objects, cosmetics, footwear, processed food, computer softwares and education services.

Other activities such as market research, trade promotion, cultural exchange and gift presenting are also held on the occasion to mark Cambodia’s Chaul Chnam Thmey (New Year Festival).

Cambodia is a potential heaven-sent market for Vietnamese businesses [...thanks to Hoon Xhen]

29/03/2011

(VOV) - Cambodia is a potential market for Vietnamese businesses, however, to conquer this market they must have specific production and trade promotion strategies.

This assessment was made at the seminar “Cambodia-open market for Vietnamese businesses” held in Ho Chi Minh City on March 29.

Vietnamese products are favoured in Cambodia thanks to their reasonable prices and high quality. Two-way trade between the two countries reached US$382 million in the first two months of this year, up 65 percent compared to the same period last year. Vietnam exported goods to Cambodia worth US$306 million, up 44 percent and the main products included plastics, garments, steel and seafood.

20 "mysterious" joint agricultural projects with Vietnam - Anybody knows what their details?

Vietnam, Cambodia joint agricultural agreement

Monday, March 21, 2011
Australia Network News

The joint-projects cover the areas of agricultural science and technology, quarantine, forestry and seafood.

Vietnam and Cambodia are planning to collaborate on more than 20 projects worth more than US$17 million.

Vietnamese officials say the joint projects, which will run until 2020, cover the areas of agricultural science and technology, quarantine, forestry and seafood.

There will be strengthened collaboration on controlling disease outbreaks along the countries' shared border as well as forest management and timber trading.

Vietnam has agreed to help fund an aquating breeding development project and to help build a seafood research institute in Kampot province.

Cambodia has agreed to a deal to grow rubber and industrial trees on its land.

Viet company in Ratanakiri confiscates land from Cambodian villagers

A tribal village in Ratanakiri province

Thursday, 6 January 2011
By Khmerization
Source: RFA

Tribal villagers in Ratanakiri province have claimed that a Vietnamese company which received land concessions from the Cambodian government has forcibly confiscated their lands by building fences, marking the boundary of the land with colour spray and threatened villagers not to protest, saying the land belong to the company.

Puoy Koeun, a villager living in Sorm village in Soeng commune, said just this week alone, representatives from the Vietnamese came 5 times to demarcate the land which encroached on villagers' land. But their actions have not been approved by any Cambodian authorities, he said. The villager said he doesn't know the name of the Vietnamese company, but said Vietnamese and Khmer employees of the company carried out the works and threats which caused fears among the villagers. "I saw the Vietnamese spraying the colour markers in the cashew farm because they wanted to confiscate the whole farm. Our villagers will protest and fight to the death if they confiscated our land. It's the whole village, they wanted to take the whole village", he said.

The Viet ambassador meets Viet businesses in Phnom Penh, would the Xmer ambassador dare to meet Khmer Krom in Prey Nokor?

Meeting with Vietnamese businesses in Cambodia held

12/23/2010
VOV News (Hanoi)

A meeting with Vietnamese businesses took place in Cambodia on December 23.

Addressing the event, Ngo Anh Dung, Vietnamese Ambassador to Cambodia, reviewed the achievements and advantages in multifaceted cooperation between the two countries in 2010.

Two-way trade turnover in the first 11 months of 2010 reached over US$1.5 billion. Vietnam’s exports turnover to Cambodia gained US$1.3 billion, up 36 percent compared to the same period last year.

Currently, Vietnamese investments in Cambodia are worth nearly US$570 million, mainly in such fields as rubber planting, industrial crops, aviation, banking, services and tourism.

At the meeting, Vietnamese businesses expressed their hope that in 2011, the two governments will continue to simplify the trade and investment procedures to increase the value of trade exchange to reach US$2 billion.