Cambodia legislature passes investment protocol with Vietnam
(VOV) - The National Assembly of Cambodia on April 3 ratified a protocol on the investment promotion and protection agreement between the governments of Vietnam and Cambodia.
All 64 parliamentarians of the ruling Cambodian People’s Party (CPP) in the National Assembly approved the document.
Mok Mareth, Chairman of the Commission on Investment, Agriculture, Rural Development, Environment, and Water Resources at the National Assembly, said the document aims to enhance investor confidence and facilitate investment between the two countries.
Sok Chenda Sophea, Secretary General of the Council for the Development of Cambodia, said the protocol will help maintain, promote and facilitate investment ties between the two neighbouring countries.
The Association of Vietnamese Investors in Cambodia reports Vietnam is the fifth biggest investor in Cambodia, with 128 projects worth over US$3 billion by 2013.