Vietnam enters top 5 biggest foreign investors in Cambodia
The inauguration ceremony of Angkomilk's factory in Cambodia in May 2016 (Photo: VNA)
The Bank for Investment and Development of Cambodia (BIDC), an affiliate of the Bank for Investment and Development of Vietnam, has established 9 branches in Cambodia with 360 employees in total.
BIDC contributes an estimated US$1 million in tax to the Cambodian Government annually.
“With an asset of US$760 million, BIDC is ranked among the top ten biggest banks in Cambodia. We have received enormous support from the 2 Governments,”said Do Viet Hung, BIDC’s Vice Director General.
Angkomilk is another successful Vietnamese business in Cambodia. The company’s revenue last year grew 10% against the previous year.
“Angkomilk is the first milk producer in Cambodia. Our production process has met international standards,” Doan Quoc Khanh, Angkomilk’s Director, elaborated.
Vietnamese and Cambodian businesses have joined hands to set up 48 rubber joint ventures. They have been allocated 200,000 ha in 7 provinces in Cambodia to grow rubber trees. Each company employs 15,000 workers on average.
Related News
Vietnam, Korea Customs sign AEO MRA
11:07 | 26/12/2024 Customs
Vietnam's stock market to develop strongly and sustainably
19:08 | 21/12/2024 Finance
Prioritizing semiconductor workforce training
09:16 | 15/12/2024 Headlines
Vietnam-Cambodia: Looking back on journey of cooperation
14:45 | 11/12/2024 Customs
Latest News
Việt Nam establishes central steering committee to lead innovation and digital transformation
15:48 | 26/12/2024 Headlines
Ho Chi Minh City: Diversifying forms of support for businesses exporting goods
09:42 | 25/12/2024 Headlines
Year-end stimulus expected to boost economic growth
14:13 | 23/12/2024 Headlines
Enterprises focus on Tet care for employees
18:59 | 22/12/2024 Headlines
More News
Experts point out economic growth drivers, challenges for next year
18:57 | 22/12/2024 Headlines
Việt Nam’s GDP growth to outpace region peers: Oxford Economics
20:30 | 21/12/2024 Headlines
PM asks efforts to achieve more than 8 per cent economic growth in 2025
20:27 | 21/12/2024 Headlines
Việt Nam's administrative restructuring will not impact foreign investors, says Foreign Ministry
20:25 | 21/12/2024 Headlines
Vietnam’s GDP growth to outpace region peers: Oxford Economics
09:39 | 20/12/2024 Headlines
Government Party Organisation must be elite, streamlined, ensure effective operations: PM
09:34 | 20/12/2024 Headlines
Vietnam among Asia’s 15 largest economies
15:42 | 19/12/2024 Headlines
Chinese media praises Vietnam’s economic achievements, outlook
15:40 | 19/12/2024 Headlines
Vietnam International Defence Expo 2024 opens
15:37 | 19/12/2024 Headlines
Your care
Việt Nam establishes central steering committee to lead innovation and digital transformation
15:48 | 26/12/2024 Headlines
Ho Chi Minh City: Diversifying forms of support for businesses exporting goods
09:42 | 25/12/2024 Headlines
Year-end stimulus expected to boost economic growth
14:13 | 23/12/2024 Headlines
Enterprises focus on Tet care for employees
18:59 | 22/12/2024 Headlines
Experts point out economic growth drivers, challenges for next year
18:57 | 22/12/2024 Headlines