On the morning of April 4, 2024, in Phnom Penh, the Vietnam–Cambodia Business Association (VCBA) held a working session with the Delegation for Trade Promotion from the Department of Foreign Market Development – Ministry of Industry and Trade of Vietnam, along with representatives of several participating Vietnamese enterprises.
VCBA’s Rapid Development and Key Role
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Established in January 2024, VCBA has quickly become an active organization supporting Vietnamese investors and businesses exploring the Cambodian market. The association plays a vital role in orienting, advising, and assistingVietnamese enterprises in finding partners and business opportunities in Cambodia.
The leadership of VCBA is headed by Oknha Leng Rithy, Chairman of the Association, who has dedicated his life to business in Cambodia and possesses deep market insights. The Vice Chairmen, Secretary-General, Deputy Secretary-General, and Heads of various departments within VCBA are all experienced business professionals who have spent years operating successfully in the country. Together, they have been contributing to the growth of the Vietnamese business community in the Kingdom of Cambodia.
Open and Practical Exchange
The meeting took place in an open and constructive atmosphere, with frank discussions and practical advice shared by VCBA leaders and experienced entrepreneurs. These insights provided valuable answers to the delegation’s concerns and helped clarify key aspects of Cambodia’s business environment.
After an introduction by the Vietnam Trade Office in Cambodia, Chairman Oknha Leng Rithy emphasized that success in Cambodia requires a serious and strategic approach. Businesses must invest time and resources to understand the market thoroughly, maintain high product quality, ensure competitive pricing, and adapt to local consumer preferences. Commitment, credibility, and cultural understanding were identified as the cornerstones of long-term success.
Support System for Vietnamese Businesses
Vietnamese enterprises planning to expand into Cambodia can receive strong institutional support from the Embassy of Vietnam, the Vietnam Trade Office, and VCBA. The association offers assistance through its various specialized committees, including the Legal Affairs, Services, Agriculture, Technical and Construction, and Information Committees.
The interactive discussion covered diverse topics such as company establishment, taxation, agricultural trade, fertilizer distribution, e-commerce operations, logistics development, construction materials, and human resource management.
Key Recommendations and Insights
Participants emphasized the importance of:
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Developing a clear market-entry strategy and strong brand promotion;
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Maintaining quality, fair pricing, and mutual benefit between producers, distributors, and consumers;
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Building corporate culture and community-oriented business ethics;
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Rejecting counterfeit or low-quality products;
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Considering local investment in addition to exports from Vietnam.
Enterprises with good intentions, strong capacity, intellect, and integrity are more likely to achieve sustainable success. Understanding local customs, business culture, and building trust with Cambodian partners and consumers was identified as essential.
Strengthening Vietnam–Cambodia Economic Ties
After nearly three hours of productive discussion, the session concluded with optimism and commitments for future cooperation. Many businesses expressed a strong desire to return to Cambodia soon to pursue concrete investment and trade opportunities in this dynamic market.
Over the past two decades, Vietnam–Cambodia trade relations have grown remarkably:
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2004: ~USD 300 million in bilateral trade
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2010: USD 1.8 billion
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2014: USD 3.5 billion
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2019: USD 5 billion milestone
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2021: USD 10 billion milestone
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2024: USD 10.54 billion
The meeting reaffirmed the strong commitment of both sides to enhance bilateral trade, investment, and partnershipin the years ahead.