The Association of Vietnamese Investors in Cambodia (AVIC) reported 16 new Vietnamese investors received Cambodian business licences during the year, adding an additional US$360 million in registered capital.

Major projects included the Sesan II hydro-electric power plant, a rubber planting project in Rattanakiri, a fertiliser plant in Kandal, and a sugar plant in Kratie.

AVIC Chairman Tran Bac Ha said Vietnam’s 2013 investments in Cambodia were six times higher than the level in 2010. The number of projects has also trebled.

Vietnamese businesses have injected over U$1.2 billion worth of foreign direct investment (FDI) into the Cambodian market, representing 40% of Vietnam’s total registered capital in Cambodia.

More than 50 Vietnamese-invested projects have officially entered operation, mostly in agro-forestry, aviation, finance, banking, post and telecommunications, industry, energy, transport, trade, electronics, healthcare, and services.

Vietnamese businesses in Cambodia generate jobs for around 30,000 workers, improve education and healthcare services for Cambodian people, and promote GDP growth.

They also contribute to reinforcing border security and strengthening bilateral diplomatic and economic ties.