Businesses from Vietnam, Cambodia, Laos strengthen cooperation

At the event, Vice Chairman of the Ho Chi Minh City People's Committee Bui Xuan Cuong said economic and trade cooperation is an important cooperation pillar that contributes to consolidating the three countries’ relations.

He expressed his belief that the forum will send out a positive message and generate practical results for the countries.

Cambodia's Under Secretary of State for the Ministry of Foreign Affairs and International Cooperation Ouk Sophon emphasised the importance of the friendship relationship among the three, saying that together, they can create a dynamic ecosystem for more mutually beneficial cooperation for the people of each country.

He said Cambodia is ready to cooperate more closely with Vietnam and Laos, supporting the businessmen of the three countries to continue to develop and succeed, and creating new opportunities for economic growth, innovation, and shared prosperity.

He said the forum shows the three countries’ efforts in bringing together investors, relevant private sector representatives, and government officials to exchange detailed information on how to better move forward and position themselves in the current context.

More importantly, it will turn untapped potential into tangible benefits, contributing to the prosperity of the country and its people, he said.

At the event, participants heard reports on the Vietnam - Cambodia - Laos economic, trade and investment cooperation and their investment attraction policies. They also discussed activities of Vietnamese enterprises investing in Cambodia and Laos and made suggestions to promote trade activities and business connections of their businesses.

In the first eight months of 2024, Vietnam and Cambodia posted the bilateral trade turnover of US$6.8 billion, 14.5% higher than that of the same period last year and is expected to reach US$10 billion for the whole year.

Meanwhile, the Vietnam–Laos trade has grown stably with their bilateral trade turnover reaching US$1.65 billion in 2023.

Vietnam is currently among the countries with top investment in Cambodia and Laos.

It has 205 investment projects in Cambodia with a total investment value of about US$2.95 billion and 245 others in Laos with a total investment value of about US$5.5 billion.