Tuesday, October 13, 2009
2010 Will Be the Year That Vietnamese Products Flow in Heavily – Up to US$2 Billion – Monday, 12.10.2009
Posted on 13 October 2009
The Mirror, Vol. 13, No. 634
(Post by CAAI News Media)
“Trade between Cambodia and Vietnam will increase dramatically in 2010, if the Cambodian economy recovers again from the global economic crisis.
“According to a report by a Vietnamese radio station on 9 October 2009, commerce between both countries will rise to as much as US$2 billion in 2010. In 2008, commerce between Vietnam and Cambodia surpassed the commerce between Cambodia and Thailand.
“According to the Ministry of Commerce of Vietnam and an industry report, the commerce between both countries declined by 29.2% to only US$858 million within the nine months in 2009 (by September). Vietnamese exports to Cambodia amounted to more than US$726 million. Vietnam is the fourth biggest importer of agricultural products from Cambodia, like rubber and wood and wood products.
“What is also noticeable is that within nine months, more than 40 Vietnamese companies were registered in Cambodia, a higher number than for other countries. In 2008, 52 Vietnamese companies were registered in Cambodia, the third position after China with 82, and Malaysia with 56 companies.
“According to the Council for the Development of Cambodia (CDC), investment from Vietnam increased up to US$114 million within nine months. This is more than the total amount within the 12 months of 2008. The Bank of Investment and Development of Vietnam in Saigon opened a branch in Cambodia.
“While China is the biggest investor in Cambodia, Vietnam is becoming the biggest supplier of imports into Cambodia. Vietnam takes a bigger market share in Cambodia, while the imports from Thailand to Cambodia are affected by the border disputes between both countries.”
Rasmei Kampuchea, Vol.17, #5018, 11-12.10.2009
Newspapers Appearing on the Newsstand:Monday, 12 October 2009