Phnom Penh: Ambassador of the Socialist Republic of Vietnam to Cambodia H.E. Nguyen Minh Vu has shared his views on the cooperation between Cambodia and Vietnam, highlighting good-neighbourly relations, traditional friendship, comprehensive cooperation, and long-term stability between the two nations that continue to foster bilateral trade and investment.
According to Agence Kampuchea Presse, the Vietnamese Ambassador outlined the insight in a recent interview with Cambodia’s state-run news agency in Phnom Penh on the occasion of the 58th anniversary of the establishment of diplomatic relations between Cambodia and Vietnam. The relationship has been cherished by the leaders and people of the two countries for generations and has been strengthened and developed day by day, he said.
Economic, trade, and investment cooperation has always been an important area between the two countries, and the senior leaders of the two countries have identified this as a key target area for cooperation toward 2030. Since the signing of the Cambodia-Vietnam Economic and Trade Cooperation Agreement (1998) until now, trade and investment relations between the two countries have played an important role in promoting the socio-economic development of their respective countries and creating favourable conditions for enhancing and expanding comprehensive cooperation between the two sides.
The Ambassador pointed to the remarkable growth in bilateral trade as a clear indicator of this success, surging from US$117 million in 1998 to US$10.1 billion by 2024. In the first five months of 2025, the bilateral trade volume between the two neighbours reached about US$5.5 billion, an increase of about 19 percent compared to the same period last year.
And it is expected that this year the bilateral trade volume will exceed US$12 billion, further strengthening Vietnam’s position as Cambodia’s third-largest international trading partner and its second-largest export market after the United States. Vietnam remains a crucial market for Cambodian agricultural products, including rice, cashew nuts, cassava, and rubber.
‘With the economies of the two countries growing day by day, the demand for goods and services between the two countries is steadily increasing and complementing each other, and with the good friendly relations and vibrant business communities of the two countries. I believe that the two countries will achieve the goal of increasing bilateral trade to US$20 billion in the coming years,’ H.E. Nguyen Minh Vu said.
In relation to investment, Cambodia is emerging as an attractive investment destination that has attracted the attention of businesses from many countries, including Vietnamese businesses, he continued. So far, Vietnam has 215 investment projects in Cambodia with a total registered capital of US$2.94 billion, making it one of the four countries with the largest foreign direct investment (FDI), data from the embassy showed.
Currently, Vietnamese investors are present in 18 of Cambodia’s 25 capitals and provinces, focusing on key sectors, particularly agriculture, telecommunications, banking, financial services, food processing and processing industries, mining, aviation, and tourism.
Looking ahead, to further promote Vietnamese investment in Cambodia, H.E. Nguyen Minh Vu shared his views that the two countries should regularly organise events to promote bilateral trade and investment cooperation, such as the Cambodia-Vietnam Business Forum, the Cambodia-Vietnam Investment Promotion Meeting, tourism exhibitions, and the establishment of special economic zones along the border. ‘The Vietnamese Embassy in Cambodia will continue to work with competent institutions of both countries to support and encourage Vietnamese businesspersons to make new investments or expand investments and do business in Cambodia,’ he added.