HANOI, Apr 06, 2011 (Lanka Business) - Cambodia offers plenty of opportunities for Vietnamese exporters though there is fierce competition from countries like Thailand and China, officials said.
Vietnam's exports to Cambodia were growing at more than 30 per cent annually, Vu Thinh Cuong, the country's Trade Counsellor in Cambodia, told forum to promote business links with Vietnam.
In the first two months of this year, exports were up 44 per cent to US$306 million, with the main export items being plastics, garments, steel and seafood, he said.
Nguyen Thi Hanh, general director of Saigon Co.op, said since Cambodia had to import large volumes of consumer goods, it offered a good opportunity for Vietnamese firms.
Vietnamese products were very suitable to Cambodian consumers in terms of price, design, and quality, she said.
Cambodia, especially its capital Phnom Penh, offered rich prospects for Vietnamese retailers because modern trade channels had not developed there, she added.
The securities market and construction were also promising sectors for Vietnamese firms.
The Cambodian stock exchange was scheduled to open in July, Hang Chuon Naron, Cambodia's Secretary of State for Economics and Finance, said.
Lao Tip Seiha, director of the country's Construction Department, said with many factories, amusement centres and property developments granted licences, the construction sector was set to boom.
But Vietnamese goods could expect to face fierce competition from other countries, especially Thailand and China, Cuong said.
Last year Thailand's exports to Cambodia almost doubled to $2.34 billion, much higher than Vietnam's, he said.
China's exports were worth more than $1 billion last year, he added.
Many delegates said though bilateral trade had increased strongly in recent years, it remained low compared to the potential.
Vietnamese firms had yet to tap the potential of the market, they said.
Businesses blamed the situation on the shortage of commercial centres, warehouses and showrooms in border areas.
To encourage Vietnamese firms to do business in Cambodia, Cuong said the Government should develop a financial mechanism to spur them to invest in rubber plantations, mining and hydro-power in border provinces.
He also said the Governments should invest in upgrading the trade infrastructure, building wholesale markets and setting up banks in border areas to facilitate trade.
Vietnamese firms should invest in building trade centres in Cambodia to distribute Vietnamese goods, he added.
By last year, Vietnamese firms had invested $566 million in 41 projects in Cambodia, mainly in rubber farming, aviation, telecom, garments, tourism, construction materials and mining.
5 comments:
Koh Tral Island must not be forgotten
By Ms. Rattana Keo
Why do Koh Tral Island, known in Vietnam as Phu Quoc, a sea and land area covering proximately over 10,000 km2 [Note: the actual land size of Koh Tral itself is 574 square kilometres (222 sq miles)] have been lost to Vietnam by whose treaty? Why don’t Cambodia government be transparent and explain to Cambodia army at front line and the whole nation about this? Why don't they include this into education system? Why?
Cambodian armies are fighting at front line for 4.6 km2 on the Thai border and what's about over 10,000km2 of Cambodia to Vietnam. Nobody dare to talk about it! Why? Cambodian armies you are decide the fate of your nation, Cambodian army as well as Cambodian people must rethink about this again and again. Is it fair?
Koh Tral Island, the sea and land area of over 10,000 square kilometres have been lost to Vietnam by the 1979 to 1985 treaties. The Cambodian army at front line as well as all Cambodian people must rethink again about these issues. Are Cambodian army fighting to protect the Cambodia Nation or protecting a very small group that own big lands, big properties or only protecting a small group but disguising as protecting the Khmer nation?
The Cambodian army at front lines suffer under rain, wind, bullets, bombs, lack of foods, lack of nutrition and their families have no health care assistance, no securities after they died but a very small group eat well, sleep well, sleep in first class hotel with air conditioning system with message from young girls, have first class medical care from oversea medical treatments, they are billionaires, millionaires who sell out the country to be rich and make the Cambodian people suffer everyday.
Who signed the treaty 1979-1985 that resulted in the loss over 10,000 km2 of Cambodia??? Why they are not being transparent and brave enough to inform all Cambodians and Cambodian army at front line about these issues? Why don't they include Koh Tral (Koh Tral size is bigger than the whole Phom Phen and bigger than Singapore [Note: Singapore's present land size is 704 km2 (271.8 sq mi)]) with heap of great natural resources, in the Cambodian education system?
Look at Hun Sen's families, relatives and friends- they are billionaires, millionaires. Where did they get the money from when we all just got out of war with empty hands [in 1979]? Hun Sen always say in his speeches that Cambodia had just risen up from the ashes of war, just got up from Year Zero with empty hands and how come they are billionaires, millionaires but 90% of innocent Cambodian people are so poor and struggling with their livelihood every day?
Smart Khmer girl Ms. Rattana Keo,
I am not interested in buying the products made in Vietnam.
Vietnam is not very honest with Cambodia, the idiot Hun Sen is poised to thank his Vietcong Hanoi master to protect him. This bad ass was bribed millions of dollars from his Viet/Hanoi Master Honoi!
This stil better than Khmer goods, they can't make a shit because Khmer is too dumb, lol
Don't buy them. Half of the products were looting from Cambodia and to sell to Cambodia, it's a fraud! Hun Sen is the biggest fraud of all, that''s mother son of the bitch!
Find the way out of Hun Sen dictatorship and Vietnam control Cambodia,please!
Khmer people should goal,make plan,set schedule,and set time what to do,how to do and when to wake up,stand up,and rise up against Hun Sen and Vietnamese in Cambodia.
Khmer could not do politic without principles in this new era.
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