Cambodia and Vietnam have reaffirmed their commitment to bolstering economic partnerships across key sectors, aiming to achieve $20 billion in bilateral trade. This pledge was underscored at the Business Dialogue 2025, hosted by the Vietnamese Embassy in Phnom Penh, which provided a platform for businesses to develop strategic investment plans in Cambodia.
The event, held yesterday, was organised by the Vietnamese Embassy in collaboration with the Vietnam-Cambodia Business Association (VCBA). It was chaired by Ambassador Nguyen Minh Vu and attended by senior Cambodian officials, including Suon Sophal, Deputy Secretary General of the Cambodian Investment Board of the Council for the Development of Cambodia, and Ho Sivyong, Government Delegate in charge as Director General of Trade Support Services at the Ministry of Commerce.
Oknha Leng Rithy, Chairman of VCBA, along with around 150 delegates representing Vietnamese enterprises and businesses of Vietnamese origin operating in Cambodia, also participated. These enterprises span various industries, including finance, banking, insurance, telecommunications, agriculture, construction, interior design, restaurant services, transportation, logistics, trade, healthcare, and tourism.
Delegations from Vietnam, including representatives from the Ministry of Industry and Trade, the Association of Overseas Vietnamese Entrepreneurs (BAOOV), the Business Club of Nguyen Tat Thanh University, the Association of Construction and Building Materials of Ho Chi Minh City, and the Association of Enterprises of An Giang Province, were also present.
During the dialogue, delegates from both countries received updates on investment incentives and opportunities in Cambodia, as well as measures to promote bilateral trade. Officials from the Council for the Development of Cambodia (CDC) and the Ministry of Commerce shared insights into recent Vietnam-Cambodia cooperation and economic collaboration initiatives.
Additionally, the Vietnamese Embassy and VCBA outlined their efforts to support businesses and facilitate trade, sharing experiences from Vietnamese enterprises operating in Cambodia.
In his remarks, Ambassador Minh Vu highlighted the deep-rooted ties between the two nations, saying the two nations are close neighbours with an enduring traditional friendship. Strengthening and enhancing this amicable and comprehensive cooperation, particularly in trade, investment, and tourism, remains a priority for the high-level leaders of both countries and a key mission of my Embassy.
He noted that at a high-level meeting in Ho Chi Minh City on February 21, leaders from both nations stressed the importance of economic cooperation as a central pillar in their relationship.
“Senate President Hun Sen has highlighted the complementary nature of our two economies and underscored the need to deepen economic connectivity for the shared development of both nations,” the ambassador noted.
Ambassador Minh Vu added that Prime Minister Hun Manet has also expressed a strong commitment to enhancing investment, trade, and tourism cooperation.
“These favourable conditions provide an excellent opportunity for businesses and investors from both countries to strengthen partnerships in specific economic sectors, striving to achieve the target of $20 billion in bilateral trade as envisioned by our high-level leaders,” he said.
Economic ties between Cambodia and Vietnam continue to thrive despite global challenges. In 2024, bilateral trade turnover reached $10.1 billion, reflecting a 17.5% increase from 2023. In the first two months of 2025, trade turnover stood at $1.8 billion, marking an 11.2% increase compared to the same period in 2024.
Vietnam currently ranks as the fifth-largest investor in Cambodia, with over $2.94 billion in registered capital across 215 projects. Vietnamese enterprises have made significant contributions to Cambodia’s economic development, including job creation, state budget revenue, and social welfare initiatives.
Prominent Vietnamese companies such as Metfone, BIDC, Angkor Milk, and Thaco Agri have been highly regarded and appreciated by the Cambodian government for their contributions,” the ambassador added.
For his part, Sivyong emphasised the significance of the event as a platform for dialogue between the public and private sectors. “In light of the uncertainties plaguing global trade—stemming from geopolitical tensions, rising inflation, surging oil prices, and other challenges—it is more crucial than ever for our countries to bolster cooperation and strengthen supply chain connectivity. By doing so, we can ensure mutual benefits for both nations and people, fostering greater prosperity and resilience,” he said.
He also highlighted Cambodia’s “Pentagonal Strategy-Phase I,” which aims to sustain peace and accelerate national development, with the goal of achieving high-income country status by 2050.
“Our ministry has been actively committed to fostering a more conducive business environment in Cambodia by streamlining administrative processes, reducing unnecessary costs, and implementing automated systems for business registration, trademark registration, and certification of origin issuance,” Sivyong said.
Rithy touched on the increasing presence of Vietnamese enterprises in Cambodia, saying, “On the foundation of our growing bilateral trade relations, an increasing number of Vietnamese enterprises have registered and expanded their business operations in Cambodia.”
He noted that with the strong support of the Vietnamese Embassy and in response to business aspirations, VCBA was officially established and recognised by the Cambodian Ministry of Interior on January 30, 2024.
“Our mission is to promote Vietnam-Cambodia trade relations, contribute to the economic development of both countries, and improve the livelihoods of their people,” Rithy added.
Throughout the dialogue, delegates shared experiences, lessons, successes, and challenges encountered by Vietnamese enterprises investing in Cambodia, including insights from businesses that have successfully operated in the Cambodian market for many years.
