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.