Unle Ho tries to beat Uncle Mao in Nambodia? Fat chance!

Vietnam leads Cambodian investment in 2011

Feb 10, 2012
VIR/VNA

Vietnam led other ASEAN nations investing in Cambodia in 2011, with $631 million out of the total of $880 million from the bloc.

Malaysia came second with $235 million and Singapore third with $14 million, the Cambodian Development Council (CDC) said on February 9.

CDC said Vietnam has 17 projects focusing on rubber plantations and processing and mining, while Malaysia invests in property, garment and textiles and rice milling, and Singapore focuses on developing five-star hotels.

Over the past 17 years, Malaysia, Vietnam, Thailand and Singapore have been key investors in Cambodia.

Plenty of investment opportunity in Laos and Cambodia [for the Viets]

08/04/2011

(VOV) - Laos and Cambodia introduced a series of investment projects to Vietnamese enterprises at a recent conference hosted by Vietnam-Laos-Cambodia Economic Development and Cooperation Association (VILACAED) in Hanoi.

The Head of Economic Development and Cooperation Committee with Cambodia Le Van Tuy said among major projects calling for investment in Cambodia, of the most noteworthy are the manufacturing of electric cables, the building of an Olympic stadium worth 156 million USD, a special economic zone and a 500-hectare land terminal in the area between Cambodia’s Ratanakiri provinces and Gia Lai of Vietnam.

VILACAED Chairman Lai Quang Thuc said that Vietnamese enterprises should take full advantage of the fact that Vietnamese consumer goods are very popular in Laos to invest in commodities production and distribution in the neighbouring country.

More cooperative ties with the oppressive communist regime in Hanoi

Vietnam-Cambodia foster cooperative ties

23/02/2011

(VOV) - Vietnam wants to further foster ties with Cambodia in all fields, especially in trade, education and training, security and defence, politics and diplomacy, Prime Minister Nguyen Tan Dung has said.

During a meeting with Cambodian Minister of Planning, Chhay Than in Hanoi on February 23, PM Dung praised results of talks between Mr Than and the Vietnamese Minister of Planning and Investment, Vo Hong Phuc. He said the visit will contribute to strengthening co-operative ties between the two countries. “Vietnam will do its utmost to further develop friendly and cooperative ties with Cambodia, bringing practical benefits for both sides,” he said.

PM Dung affirmed the Government is willing to support the two ministries to implement cooperative projects.

VN investment in Cambodia reached US$1.5 bn

Tue, November 17, 2009
Rasmei Kampuchea
Asia News Network

Phnom Penh : Vietnamese investors consider Cambodia as a big potential investment destination in the future. So far, its investment in Cambodia has reached US$1.5 billion in the last few years in different sectors such as construction, agriculture, and banking sector.

Tran Bac Ha, chief of a delegation of Vietnamee investors told Prime Minister Hun Sen on October 16 that Vietnam government allowed three Vietnamese companies to invest in Cambodia in real estate, construction and agriculture.

Tran Bac Ha added that Vietnamese company planned to buy in 2010 between 300 000 and 400 000 tonnes of paddy from Cambodia to boost Cambodian economy and reduce poverty.

Recently, Vietnamese investors planned to plant rubber trees on 50 000 hectare in the Northeast of the country and they put in place the mobile phone company, Viettel, and at the same time, Vietnamese airline company has invested in running the Cambodian National Airline called "Cambodia Angkor Air". The joint venture investment costs $100 millions, of which , Cambodia holds 51 per cent and the rest belongs to Vietnamese side.

While the diplomatic row has increased between Thailand and Cambodia, Some Thai leaders threatened to close the border. But, in his reaction, Prime Minister Hun Sen threatened to stop buying Thai products and in stead using products from other countries.

VN Kova paint opens $3 million factory in Svay Rieng

Viet Nam-based Kova Paint Group’s new factory in Svayrieng Province, Cambodia. — VNS Photo Ngoc Hai

VN’s Kova paint opens $3m factory in Cambodia

19-02-2008
VNS (Hanoi)

SVAYRIENG, CAMBODIA — Viet Nam-based Kova Paint Group opened its first manufacturing facility in Cambodia on Saturday after two years of construction.

The paint factory, built on 1ha in Bavet Commune in the border province of Svayrieng’s Chantrea District, can turn out 60 tonnes of paint per day.

The factory employs some 100 people, two-thirds of whom are Cambodians.

The president of Kova Paint group, Dr Nguyen Thi Hoe, said the Kova Investment International Cambodia Co, a subsidiary of Kova group, had invested US$3 million in the new factory.

The Vietnamese group contributed 70 per cent of the company’s capital and Singaporean companies the remaining 30 per cent.

Hoe also announced the opening of Soma Kova Holding Ltd, a joint venture between Kova group and a Cambodia company that specialises in selling products manufactured at the Kova’s Cambodian factory in local and overseas markets.

Kova’s products, such as stone-like paint, metallic paint, water – based paint for floors, and heat-insulating paint, among others, made in the Cambodian factory would be exported to Malaysia and Cambodia later this year.

According to Rajeev Vaidya, managing director of DuPont Titanium Technologies, Asia Pacific, Kova began operation in a small unit in the yard of HCM City’s University of Technology in 1992, and now has eight subsidiaries and five plants today.

"In 16 years, the growth of the Kova group under the leadership of Madame Hoe has been phenomenal," said Vaidya.

He said Kova and Dupont had enhanced their co-operation over the last 14 years.

"As Kova has grown, so has the partnership. There are many things that connect Kova and Dupont," said Vaidya.

Speaking at the opening ceremony, Paul Keng, the CEO of Kova International Singapore Pte, a subsidiary of Kova group, said the presence of Kova in Cambodia and Singapore would create a gateway for the Kova group to ASEAN countries as well as global markets.

Vietnam's confession: Vietnamese enterprises lack financial and technological prowess and management ability is still far behind

04/12/2007
Vietnamese investors lacking in Laos and Cambodia

VietNamNet Bridge – Unable to encourage outward international investments, Vietnam has given up its position as the number one investor in Laos and Cambodia.

In 2005, Vietnam was considered the primary investor in both countries, but relinquished the title to China in 2006. This year, Vietnam ranks third among the biggest investors in Laos, after China and Thailand.

The Ministry of Planning and Investment (MPI) thinks Vietnamese enterprises lack financial and technological prowess and management ability is still far behind. In order to regain the No 1 position, they will need Government support.

The ministry is drawing up a plan to support and encourage outward investments, expected to be promulgated in the first quarter of 2008.

To date, Vietnam has invested in 35 countries and territories, of which Laos tops the list. By the end of November 2007, Vietnam’s 86 Laos investment projects, with total capital of $584mil, amounted to 35% of total projects and 42% of total registered capital. Algeria is the second choice for Vietnamese investors, with 17.4% of total registered capital. The two countries alone have attracted 59.4% of Vietnam’s total outward investment.

So far this year, Vietnam has invested in 61 international projects, worth nearly $391mil. As of November 2007, Vietnam has invested in 246 projects, total capital $1.4bil.

Investments primarily include industry and construction, oil exploration and exploitation, consumer products, construction materials, all accounting for 41%; agriculture, forestry and fisheries (21.5%), and related economic services (37.5%). It is expected that total outward investments will reach $500mil by 2008.

Cambodia seeks $3bn investments in power plants

Saturday November 24, 2007
ANUCHIT NGUYEN
Bangkok Post

Cambodia is seeking $3 billion of investments to build power plants in the next decade to meet rising energy demand in Southeast Asia's fastest-growing economy, Commerce Minister Cham Prasidh said.

The nation plans to boost generating capacity by 2,000 megawatts from 300 megawatts by 2017, Cham Prasidh said in an interview in the capital Phnom Penh.

The government is in talks with Chinese and Vietnamese investors to build hydropower plants with a combined capacity of 1,100 megawatts, he said, without naming the companies.

Cambodia's economy has expanded at an average annual pace of about 11% in the four years ending 2007, according to the Asian Development Bank, spurring demand for energy. The nation, which emerged from a two-decade civil war in 1993, is wooing overseas companies to invest in natural gas exploration and power plants to ease electricity shortages and ensure energy supplies.

The energy shortage "problem must be resolved as soon as possible because it's hard to attract foreign investments with unstable power supply," Cham Prasidh said.

Cambodia's economy, which relies on garment exports and tourism, may grow 9.7% this year, Prime Minister Hun Sen said on Nov 7. Companies such as Club Me'diterrane'e SA and Starwood Hotels and Resorts Worldwide Inc are planning to build hotels to tap the country's rising tourist arrivals.

Poor Infrastructure "Cambodia has very low labour costs that can even compete with China," said Van Sou Leng, chairman of the Cambodian Garment Manufacturers Association, a trade group. "Investors are cautious to invest here because of poor infrastructure such as electricity, roads and ports."

Exports in 2006 rose 24% to $3.45 billion, according to Cambodia's central bank. Garments accounted for 70% of total overseas shipments, with the US and European Union the nation's biggest markets.

Foreign tourists to Cambodia may reach a record two million in 2007, Hun Sen said. Overseas tourists rose 19% to 1.4 million in the first nine months of this year, he said.

"Most large hotels in Cambodia have their own power generator because the power blackout situation has worsened," said Cham Prasidh.

The country currently buys electricity from Vietnam and Thailand.

The government is in discussions with Chinese investors to build two hydropower plants with a combined capacity of 700 megawatts in the northwest province of Pursat, said Cham Prasidh. A group of Vietnamese investors plans to build hydropower plants with capacity of 400 megawatts in the northeast province of Rattankiri province, he said.

Cambodia will also open bids for gas-fired power plants which will use natural gas from its onshore and offshore reserves, Cham Prasidh said, without elaborating.

The economy of Cambodia will be the fastest growing of nine Southeast Asian nations this year, according to the ADB. It also reported the quickest pace in the region in 2006 and 2005.

After more than a decade of invasion, and a decade of temporary retreat, VN invasion in Cambodia starts anew ... under Hun Sen's regime invitation

08/05/2007
Cambodia inviting for Vietnamese investors

VNE (Hanoi)

VietNamNet Bridge – While competition in many areas is fierce in the domestic market, some companies in HCM City have begun to approach a neighbouring market – Cambodia.

The Dong Thien Joint Stock Company has nearly stopped its business in Vietnam to focus on a sand exploiting project in Cambodia. Its branch in Cambodia has been set up already and will become operational this June.

Assistant to Dong Thien’s General Director, Nguyen Phuc Son, said that the VND20 billion (US$1.25 million) sand exploiting project in Cambodia was the biggest one of Dong Thien to date. The company can exploit up to 7,000 cu.m of sand each week to export to Vietnam.

“Sand in Cambodia meets Vietnam’s standards for construction sand. The local market is now short of this material so the market for sand is extremely large,” said Mr Phuc.

Only one hour by bus from HCM City, Cambodia has become an attractive destination for many companies in the city thanks to its low labour cost, spacious land, and open market.

Twenty-seven Vietnamese companies have opened branches, representative offices and invested in projects in Cambodia. This number is double compared to two years ago. Main fields for Vietnamese investment are health, agriculture, transport, telecom, and hydro power production.

The Ministry of Planning and Investment (MPI) has recently licenced the Saigon Trade Corporation (Satra) to form a joint venture with Sokimex Group to build big plants to process cashews and seafood, to breed cows and to build a supermarket in Cambodia.

Four travel companies, the Saigon Mekong Joint Stock Company, Saigontourist, Cho Lon Tourist, and Fiditour, have cooperated with Cambodian partners to bring tourists from HCM City to Phnom Penh and Siem Reap by land, air and water.

The US$10.5 million Cho Ray-Phnom Penh hospital project is underway, in which the Saigon Health Investment Joint Stock Company is contributing two-thirds of the capital and the remaining is coming from Cambodian partners. The representative office of this joint venture has been set up and is waiting for an investment licence from the Cambodian government.

However, investment in Cambodia still faces many difficulties. A project between the Viet Nga Infrastructure Investment Joint Stock Company and the Mong Reththy Group to establish a joint venture to build a road from the hub of Phnom Penh to Cambodia’s international airport in the form of build-operate-transfer (BOT) was canceled at the last minute because of some problems such as site clearance.

Nguyen Van Hung, representative of a rubber company in the southern province of Dong Nai which has a rubber growing project in Cambodia, also had to abandon his project due to problems associated with site clearance.

Deputy Director of the Department of Planning and Investment of the southern province of Tay Ninh, Tran Luu Quang, complained that even Vietnamese agencies caused problems for companies investing in Cambodia. He gave an example that many companies in Tay Ninh that want to grow cashews and cassavas in Cambodia but when they import cashews and cassavas to Vietnam as materials they face difficulties in customs formalities.

“Because of high import tax rates and no preferences, many companies are discouraged and leave their projects unfinished,” Mr Quang said. He said he hoped that relevant bodies like the Ministries of Trade and Finance and customs agencies would address these problems.

Source: VNE

Hanoi's investement takes over Laos, Cambodia hits with VN's growing rubber plantation

09/03/2007
Vietnam’s overseas investment on the rise

VietNamNet Bridge - Vietnam’s businesses have invested in over 30 countries and territories, mainly in the US, Russia and Eastern European countries.

According to the Ministry of Planning and Investment, Vietnamese companies have invested in around 200 projects abroad, totaling nearly US$1 billion.

Last year 33 overseas projects were licenced, with a total registered capital of over $136.5 million. In addition, four projects were allowed to increase capital, totaling $211.2 million.

Laos - the biggest investment market

Vietnam licenced the first overseas project in 1989. However, this project was not carried out. In 1999 the government issued Decree 22 encouraging Vietnamese businesses to invest abroad. Accordingly, ten projects were licenced in 1999 and 15 in 2000.

Vietnam’s overseas projects are mainly in the fields of oil and gas exploitation and power source development (40.09% of projects, 74.5% of total capital), agriculture (19.6% and 13.3%), and trade-service.

Laos is the biggest market of Vietnamese investors, with 60 projects worth $424 million, followed by Russia with 11 projects worth $73.06 million. Experts forecast that Vietnam’s overseas investment capital may reach $350-360 million in 2007, three times higher than 2006, with disbursed capital of around $100 million.

Vietnamese investors now have many favourable conditions to invest abroad. According to the Investment Law 2005, not only Vietnamese firms but also foreign-invested firms in Vietnam (wholly foreign own or joint venture) can invest abroad.

Decree 78 dated August 9, 2006 on overseas investment says that projects with capital of less than VND15 billion (US$930,000) would be licenced within 15 days. This regulation is considered very open.

Formalities still the biggest hurdle

Huynh Van Minh, General Director of the Saigon Trade Corporation (Satra) said that his company is implementing many projects abroad, including: Satra USA in the US, which specializes in import-export, trade; two meat and seafood processing factories in Cambodia; contributing capital to the Cho Ray Hospital project in Cambodia; and rubber projects in Laos and Cambodia. According to Mr Minh, each overseas project took over one year for fulfilling formalities.

The Ministry of Planning and Investment is compiling a policy encouraging overseas investment, which is considered a break-through to stimulate Vietnam’s overseas investment in the future.

Pham Van Hien, Head of the Planning and Investment Department of the Vietnam Rubber Corporation said that under the government’s policy, the corporation would invest in 200,000ha of rubber in Laos and Cambodia by 2015. So far, it has planted the first 8,400ha in Laos and expects to have 10,000ha later this year.

The corporation is negotiating to hire 10,000ha of land to grow rubber and trees in Savanaket, Laos. In Cambodia, the corporation has established nine companies to monitor nine projects there.

The government has recently allowed the corporation to transfer $4 million to Cambodia to grow 4,000ha of rubber in 2007.

Source: Nguoi lao dong (Vietnam)