Sunday, August 1, 2010

Vietnam Displayed Businesses and Trades Products in Cambodia

BY BUTH REAKSMEY KONGKEA

More than 250 Vietnamese companies and 300 exhibition booths have participated in the “Ho Chi Minh City Expo 2010” on July 15-19, 2010 at the Diamond Exhibition Center in Diamond Island (Koh Pich) in Phnom Penh.

The “Ho Chi Minh City Expo 2010” under theme “Vietnamese Product-More Choices-Much Trusted” was organized by the Vietnam Ministry of Industry and Trade of the Socialist Republic of Vietnam, Ministry of Culture, Sport and Tourism, the People Committee of Ho Chi Minh City, in collaboration with the Ministry of Commerce of the Kingdom of Cambodia.

The Inauguration ceremony of the Ho Chi Minh City Expo was officially presided over by Her Excellency Dr. Men Sam On, Permanent Deputy Prime Minister, and other Senior Cambodian and Vietnam officials in order to witness the huge Vietnamese trade expo in Cambodia.

The Permanent Deputy Prime Minister Dr. Men Sam On said that the Ho Chi Minh City Expo has contributed to the sector of the commerce, services and tourisms via services providing for clients widely in competitive markets within transparency, quality and efficiency in order to obtain trust and support from the public in Cambodia.

The event will provide the enterprises and the people to experience models of productions; business concepts and visions and to seek partners for businesses purposes, trades and cooperation in future, she said, adding that the event has also brought the new products and services for sales into Cambodia’s markets as well as contributed to the enlargement and strengthening business trades, services and tourism promotion in accordance with the Cambodian government’s second rectangular strategy under the leadership of Samdech Techo Hun Sen, Prime Minister of the Kingdom of Cambodia.

“This event has clearly reflected cooperation and friendship which is in good culture between Cambodia and Vietnam in the picture of good siblings (brothers and sisters) and honest country neighbors within good cooperation and solidarity on business trade,” she said during her opening remarks at the opening of the Ho Chi Minh City Expo 2010 in Phnom Penh.

She stated that so far the Royal Government of Cambodia has paid much attention and provided the priorities on private investments and private sectors by considering that they are the machine head of the train in generating economic growth and sustainable development in Cambodia. Starting from this vision, the government has prepared the Law on Investment in order to encourage the private investment as well as to attract the flow of investments in Cambodia. Besides taxes incentive, Cambodian laws and other relevant laws have also provided the equal rights between local investors and foreign investors except the land properties which the Cambodia’s land law has authorized only the Cambodian citizens to govern it.

To promote the trade, business cooperation and investments in Cambodia, the government had also signed a number of bilateral agreements with many countries in the region in which the bilateral agreement on trade and business cooperation and agreement between the Kingdom of Cambodia and the People’s Republic of Vietnam was on 26th November 2006, she noted.

She added that so far Vietnam has many big investment projects in operation in Cambodia. They are Vietnam rubber plantation; Viettel Telephone companies; Cambodia Angkor Air, BIDV Bank, Sacom Bank and Vietnamese Agricultural bank.

Nguyen Thi Hong, Vice-Chairman of the People’s Committee of Ho Chi Minh City, said that there are a total of 2,000 items including household appliances, food and food substances, garments, textiles and leather, arts and handcrafts, chemical and cosmetics, construction materials, stationery and cultural products, pharmaceutical, and agricultural products in the Vietnamese trade exhibition.

She said that Ho Chi Minh City Expo 2010 is one of the exchanges of Vietnam-Cambodia Enterprises, business and trade which was organized over 10 years ago in Cambodia. The event aimed to promote and strengthen coalition, friendship, solidarity and cooperation between the two countries through the exchange of businesses, trades and cultures in the form of exhibition in Cambodia.

She added that in the period of five months in 2010, Vietnam has earned over US$ 430 millions from its business trade in Cambodia. Vietnam plans to reach a total of US$ 2 billion bilateral trade target for this year.

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