It is interesting to observe that Vietnam is becoming a main investor in Cambodia and Laos. This is probably a new model of South-South investment cooperation. The driving force of such strong economic cooperation is political link and trust between the three countries which have gone through liberation war together.
This year alone, Vietnam’s direct investment in Cambodia is more than US$1 billion, doubling that of last year. Vietnamese enterprises have invested in about 100 projects in the neighboring countries, with US$2.1 billion in total registered capital.In Laos, Vietnamese companies have so far invested in around 200 projects Laos, with US$3.3 billion in total registered capital, according to the agency. The investment registered between January and November was about US$500 million, rising by 15% year-on-year.
In the two neighboring countries, Vietnamese companies put their investment mainly in the fields of forestry, agriculture, energy, mining, telecommunication, and banking, according to the agency. Some large-scale projects in Laos will soon start service in 2012.
Hoang Anh Gia Lai Group, Saigon Invest Group, Vietnam Rubber Industry Group and telephone and communications company Viettel are among major Vietnamese investors in Laos and Cambodia.
Vietnamese-invested projects in Cambodia have created more than 6,000 stable jobs, according to the agency.