Wednesday, 30 March 2011

Cambodia is a potential market for Vietnamese businesses

via CAAI


(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.

Experts said that Vietnamese businesses have not fully exploited this export market as Cambodian infrastructure is poor and lacks a banking payment system, commercial centres, stocks and telecommunications. They have also not paid due attention to long-term investment in the market.

At the seminar, businesses were updated with the latest information about preferential commercial and investment policies in Cambodia and the developing retail distribution network.

Vietnamese trade counselor in Cambodia, Vu Thinh Cuong, said businesses seeking investment opportunities in Cambodia should research partners and projects at Vietnamese representative offices there. He also said that businesses should focus investment on agriculture and industry.

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