Deputy Chairman of the Ho Chi Minh City People's Committee, Bui Xuan Cuong, emphasized the crucial role of economic and trade cooperation in strengthening the growing relationship between Vietnam, Laos, and Cambodia, reported the Voice of Vietnam.

At the Vietnam-Cambodia-Laos Business Forum 2024 held in Ho Chi Minh City on October 6, Mr. Cuong highlighted the event's significance in fostering business connections and promoting trade among the three countries.

The forum attracted 80 Vietnamese businesses operating in Cambodia and Laos, along with representatives from Lao and Cambodian businesses.

The forum provided a platform for discussing economic development orientations, investment attraction policies, and the operations of Vietnamese businesses in Laos and Cambodia. Participants also explored opportunities to enhance trade exchanges, business connections, and cooperation in investment, trade, and tourism.

The Vietnam-Cambodia Business Association advocated for establishing a cooperation mechanism among the business associations of the three neighboring countries and outlined specific steps to promote information exchange and investment environment understanding.

Mr. Ouk Sophon, Under Secretary of State for Cambodia's Ministry of Foreign Affairs and International Cooperation, emphasized the potential for the three countries to create a dynamic ecosystem for cooperation that benefits their people. He highlighted the forum's role in attracting investors.

Vietnam and Cambodia's bilateral trade reached over $10.5 billion in 2022, with a slight decrease in 2023 but an expected recovery to $10 billion in 2024. Both countries aim to achieve $20 billion in bilateral trade. Meanwhile, Vietnam and Laos recorded two-way trade of $1.65 billion in 2023.

Vietnam remains a leading investor in Laos and Cambodia, with 245 projects valued at $5.5 billion; and  205 projects worth $2.95 billion, respectively. 

Source: VnEconomy