Vietnam invests in 190 projects in Cambodia

Update: 19:39 | 22/04/2019
Vietnam has so far invested in 190 projects worth nearly 2.9 billion USD in Cambodia, according to the Saigon Giai phong (Liberated Saigon) newspaper.
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Meanwhile, Cambodia has poured 65 million USD into 19 projects in Vietnam.

vietnam invests in 190 projects in cambodia
Illustrative image. (Photo: VNA)

Vietnam is now the third largest trade partner of Cambodia. Two-way trade hikes 9.8 percent on average each year.

In 2018 alone, it surpassed 4.7 billion USD, up nearly 24 percent year-on-year. Of the figure, 3.7 billion USD was Vietnam’s exports to Cambodia.

According to the tax reduction roadmap under the ASEAN Trade in Goods Agreement (ATIGA), almost all exports-imports between Vietnam and Cambodia are eligible to a 0-5 percent tariff.

The double taxation avoidance and tax evasion agreement between Vietnam and Cambodia, which took effect on February 20, will be applied in the two nations in early 2020.

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(Source: VNA)