BUSINESS
Wednesday, Dec 21, 2011, Posted at: 08:21(GMT+7)
Vietnam’s investment in Cambodia, Laos increases considerably: Agency

Laos and Cambodia are currently the two biggest receivers of direct investment from Vietnamese enterprises and the investment capital keeps increasing, with a twofold in Cambodia this year, according to the Foreign Investment Agency under Vietnam’s Ministry of Planning and Investment.

This year alone, Vietnam’s direct investment in Cambodia is more than US$1 billion, doubling that of last year, Mr Nguyen Noi, deputy head the agency, said at a Mekong Sub-region Investment Cooperation Forum co-organized by the ministry in Hochiminh City Dec. 16.

Nguyen Noi (1st, L), deputy head of Foreign Investment Agency of Vietnam’s Ministry of Planning and Investment, co-chairs the forum Q&A session with other officials (Photo: Tuong Thuy)

He said Vietnamese enterprises have invested in about 100 projects in the neighboring countries, with US$2.1 billion in total registered capital.

In Laos, Vietnamese companies have so far invested in around 200 projects Laos, with US$3.3 billion in total registered capital, according to the agency. The investment registered between January and November was about US$500 million, rising by 15% year-on-year.

In the two neighboring countries, Vietnamese companies put their investment mainly in the fields of forestry, agriculture, energy, mining, telecommunication, and banking, according to the agency. Some large-scale projects in Laos will soon start service in 2012, according to Mr. Noi.

Hoang Anh Gia Lai Group, Saigon Invest Group, Vietnam Rubber Industry Group and telephone and communications company Viettel are among major Vietnamese investors in Laos and Cambodia.

Vietnamese-invested projects in Cambodia have created more than 6,000 stable jobs, according to the agency.

The Ministry of Planning and Investment co-organized the Mekong Sub-region Investment Cooperation Forum with Vietnam’s Association of Foreign-Invested Enterprises, and the Vietnam-Laos-Cambodia Association for Economic Cooperation Development.

The forum discussed measures to further promote investment in the Southern Economic Corridor and the Vietnam-Laos-Cambodia Development Triangle.

The corridor connects Thailand’s Bangkok, Cambodia’s Phnom Penh and Ho Chi Minh City, Vietnam’s southern economic hub.

By Tuong Thuy
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