Cambodia newspaper highlights economic ties with Vietnam
Cambodia’s Nokorwat News Daily on June 14 carried a story on its front page saying there is plenty of room for Vietnam and Cambodia to develop their economic ties.
Phnom Penh (VNA)🎃 – Cambodia’s Nokorwat News Daily on June 14 carried a story on its front page saying there is plenty of room for Vietnam and Cambodia to develop their economic ties.
The article highlighted the increasingly growing economic relations between the two countries over the past year, illustrated by the inauguration of the Angkor milk plant by Vinamilk – Vietnam’s largest dairy company, the launch of the eighth branch of the Bank for Investment and Development of Vietnam (BIDV) in Cambodia, and the construction of a rubber latex processing plant by the Vietnam Rubber Group (VRG) in Cambodia’s Kampong Thom.
The official establishment of the ASEAN Economic Community (AEC) at the end of 2015 offers brilliant opportunities for the two sides’ businesses to expand markets and boost exports, the newspaper said.
Sharing a border of over 1,000 km as well as social-cultural similarities, Vietnam and Cambodia are aiming to raise two-way trade to 5 billon USD per year in the coming years, it said, noting that bilateral trade expanded from around 130-150 million USD per year between 1997 and 1999 to nearly 3.4 billion USD per annum over the past three years.
Economists have commented that the future target of 5 billion USD is completely achievable.
Vietnam is currently Cambodia’s third biggest trade partner, the newspaper said, adding that Vietnam is leading country in the number of tourist arrivals to Cambodia in recent years, as well as the primary destination of Cambodian tourists.
The article quoted Minister -Counsellor Nguyen Bao, head of Vietnam’s Trade Office in Cambodia, as saying that as of May 2016, Vietnamese businesses ran 183 projects worth 2.85 billion USD in Cambodia.
Vietnam continues to be one of the five major investors in Cambodia , especially in the fields of agriculture, forestry, energy, finance, banking, insurance and telecommunications.
Apart from trade, finance, and production of consumer products, agriculture cooperation is considered to be the most consolidated.
At the inaugural ceremony of the VRG’s rubber latex processing plant in Cambodia in August 2015, Minister of Agriculture and Rural Development Cao Duc Phat reiterated the Vietnamese Government’s consistent policy of reinforcing and developing comprehensive cooperation with Cambodia across the board, including agriculture.
Cambodian Deputy Prime Minister Yem Chhay Ly said the rubber planting projects of Vietnamese businesses in Cambodia have helped propel economic development and infrastructure and reduce poverty in the country.
The article quoted economists as saying that to fully exploit the potential of their investment cooperation, the two countries’ competent agencies should do more to simplify business procedures.-VNA
Vietnam and Cambodia have reaped impressive results in economic cooperation, which still has much room to flourish even more, Vietnamese Ambassador to Cambodia Thach Du said.
Vietnam and Cambodia have agreed to fully and effectively actualise protocols on defence cooperation in order to enhance mutual understanding and trust.
President Tran Dai Quang’s State visit to Cambodia from shows Vietnam’s special attention to fostering and promoting traditional friendship and comprehensive cooperation between the two countries.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Illustrative image (Photo: VNA)
