Prime Minister Nguyen Tan Dung expressed confidence that Cambodia will become a prosperous nation enjoying higher stature in the region and beyond.
He made the statement in Phnom Penh in talks with his Cambodian counterpart Hun Sen during his three-day working visit to Cambodia to boost bilateral economic, trade and investment ties.
Vietnamese PM Nguyen Tan Dung and Cambodian PM Samdech Hunsen
visit Cho Ray hospital in Phnom Penh__Photo: Duc Tam/VNA
The two leaders expressed their determination to raise two-way trade to USD 5 billion by 2015.
Hun Sen pledged further support for Vietnamese firms to do long-term business in Cambodia while Dung affirmed that the Vietnamese Government would create favorable conditions for Cambodian enterprises to invest in Vietnam.
Dung suggested that related agencies of both sides work together to put the Vietnam-Cambodia Investment Promotion and Protection Agreement into force soon, adding that the two sides should work for early signing a double taxation avoidance agreement and upgrading a cooperation deal on rubber planting.
He also stressed the importance of trade promotion to allow enterprises to establish new partnerships in potential areas such as finance, agricultural product processing, rubber planting, and distribution channels for major products.
Dung and Hun Sen witnessed the grant of an investment license for Vietnam Dairy Products JSC (Vinamilk) to build a USD 23 million factory in Cambodia, and the signing of an agreement between the Bank for Investment and Development of Vietnam and Cambodia’s Ministry of Education, Youth and Sports to provide 50 scholarships for Cambodian students in Vietnam.-