VietNamNet Bridge - Power generation is set to be a main plank for future Vietnam and Cambodia bilateral cooperation. 
Under the cooperation agreements signed between the two countries on the occasion of Vietnamese Party General Secretary Nong Duc Manh’s visit to Cambodia last week, Vietnam committed to continue giving its support to Cambodia in power generation, and exploration and exploitation of natural resources, particularly focusing on power supplies and bauxite exploitation.
In May 2009, the state-run Electricity of Vietnam (EVN) signed a contract with Electricite Du Cambodge (EDC) to provide between 900 million and 1.4 billion kilowatt hours of power each year from 2010 to help ease Cambodia’s power shortages.
Strengthening ties in marine transportation, trade and investment are also areas to be focused on. Vietnam and Cambodia have targeted to bring two-way trade revenue to $2 billion in 2010 from more than $1 billion this year.
According Vietnam’s Ministry of Industry and Trade (MoIT), Cambodia is seen as having a large market for Vietnamese firms to accelerate exports, particularly garment and textiles, processed food, plastic products, fertiliser, home electrical appliances and mechanical products.
Last week, the MoIT and 12 Vietnamese enterprises participated in the Cambodian import-export goods fair opened on December 15 in Phnom Penh.
The MoIT and Ho Chi Minh City, Dong Nai and Binh Duong province authorities prepared for a trade conference between Vietnam and Cambodia scheduled to be held in Phnom Penh in December.
“Cambodia is considered a priority for Vietnam to accelerate bilateral trade and we will make an overall plan for trade promotion with the country in the time to come,” said Dao Tran Nhan, general director of the MoIT’s Department for Asia-Pacific Market.
According to MoIT data, Vietnam exported $910.5 million worth of goods to Cambodia in the first 10 months of this year and imported $136.1 million worth of Cambodian products.
As of September 2009, Vietnamese businesses had invested about $650 million in Cambodia, including $400 million committed in August, 2009 alone for production of fertiliser, rice, sugar, ethanol, thermal power and construction stone.
Vietnam’s Vietel is the largest telecommunication service provider in Cambodia that accounts for a 60 per cent market share for ADSL services and a 50 per cent market share for fixed telephones. Vietnam’s other large-scale investment projects include Vietnam Rubber Group’s 100,000 hectare rubber tree plantation and the construction of the Se San hydro power plants by EVN.
This is the second official visit made by Party General Secretary Manh to Cambodia since March, 2005.
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