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Vietnam Ranks Number One Among Foreign Direct Investments to Cambodia

PHNOM PENH: The Socialist Republic of Vietnam ranks number one among ASEAN countries in terms of direct investment made in Cambodia, with trade between the two countries exceeding US $9 billion in 2021.

In a telephone conversation between Prime Minister Hun Sen and the Prime Minister of the Socialist Republic of Vietnam, Pham Minh Chinh, on Tuesday, 12 April, the Vietnamese side sent greetings and wishes for the Khmer New Year to His Majesty the King, Her Majesty the Queen Mother, the President of the Senate, President of the National Assembly, Prime Minister of Cambodia, as well as all Cambodians.

Prime Minister Pham Minh Chinh also congratulated Cambodia on all of its achievements over the past 40 years, and pledged to join the Kingdom in maintaining good neighborly relations, and further strengthening traditional cooperations.

During the call, the two Prime Ministers expressed their satisfaction over the good relations between the two countries, which has even withstood the impact of Covid-19, as seen by the high trade volume between Cambodia and Vietnam in 2021, which reached around US $9 billion, equal to 80 percent of the trade volume in the same period in 2020, and the maintenance of a positive growth momentum in the first quarter of 2022.

According to a statement from the Ministry of Foreign Affairs, "The Socialist Republic of Vietnam continues to rank number one among ASEAN countries in terms of direct investment in the Kingdom of Cambodia.”

Furthermore, the two Prime Ministers also emphasized the strategic importance of maintaining and constantly strengthening good traditional neighborly relations, particularly in regard to a comprehensive cooperation on security and development of both countries in the current context, and especially for the occasions of the 55th anniversary of Cambodia-Vietnam diplomatic relations and the 45th anniversary of the establishment of the Kampuchean United Front for National Salvation, on 2 December 1978.

The two Prime Ministers also agreed on the need to further strengthen political trust and increase cooperation to prevent the further spread of Covid-19 along the ‘new normal’ trajectory, to promote socio-economic recovery and to continue maintaining a peaceful border and good friendship.

Cambodia and Vietnam established diplomatic relations 55 years years ago, starting in 1967. Following the liberation of Cambodia from the Khmer Rouge regime, the relationship between the two countries became highly cooperative and mutually supportive, so much so that the two governments now consider each other as good friends, brothers and neighbors.

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