The Cambodian government will grant licences to five projects invested by Vietnamese investors with total investment capital of $1 billion.
The commitment was made via seven memorandum of understandings signed between Cambodian and Vietnamese government agencies at the second Investment Promotion to Cambodia Conference held in Phnom Penh on April 24.
The projects comprise Lower SeSan II hydro-electronic project developed by the EVN International, an iron ore exploration project developed by Hoang Anh Ratanakiri Company, a cassava flavour production factory, a refined sugar production factory developed by International Star Company and a plantation developed by Hoang Anh Oyadav Company.
There were around 165 enterprises participating in the conference including 94 Vietnamese enterprises. According to a report from Vietnam’s Foreign Investment Agency, Cambodia ranked the second investment destination of Vietnamese investors with 87 projects and $1.9 billion as of February 28, this year.
The first Investment Promotion to Cambodia Conference was held in Ho Chi Minh City in December 2009, raising Vietnamese investors’ interest in Cambodia. At that time, Cambodian and Vietnamese government agencies signed a memorandum of understanding on cooperation to support exploration and exploitation of a bauxite mine in MoldulKiri, next to Vietnam’s Central Highlands’ Dak Nong province, home to Vietnam’s first alumina project. The Cambodia’s Ministry of Industry, Mines and Energy also signed an agreement on exploration and exploitation and granting licence to the joint venture of alumina exploitation (Cambodia - Vietnam) in December, 2009.
The memorandum paved the way for Vinacomin and Cambodia’s Nadaco in cooperation with BIDV to produce 1.5 million tonnes of alumina in the first stage with total investment capital of $2.5 billion and 2.5 million tonnes in the second stage with investment capital of $3.5 billion.
BIDV chairman Tran Bac Ha said Vietnam’s large corporations wereng implementing their investment in Cambodia in sectors such as finance, banks and insurance, telecom, air carriers, agriculture, energy and mines.
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VN leading fertilizer producer to expand agri-business in Cambodia
PetroVietnam Fertilizer & Chemicals Corporation (PVFCCo), a major fertilizer manufacturer in Vietnam, announced Saturday plans to expand its agricultural technical transfer programs for Cambodian farmers in at least three more provinces over the coming year.
“In 2011, PVFCCo intends to maintain its leading position in the domestic market while expanding its activities abroad. In Cambodia, we are particularly keen to continue implementing our programs while improving our image and position in the local market,” said Mr. Nguyen Hong Vinh, PVFCCo’s vice president for sales and distribution.
He was speaking at an announcement ceremony in the Cambodian capital Phnom Penh.
The manufacturer, which shares almost 50 per cent of the domestic demand for urea, opened its Phnom Penh representative office in May last year.
PVFCCo has since then launched agricultural technical transfer programs for local rice farmers. Numerous workshops have been held and demonstration plots established in several provinces such as Battambang, Kompong Chhnang and Takeo.
Mr. Vinh said PVFCCo would continue to expand such technical transfer programs to farmers in Kompong Cham, Kompong Thom and Kandal provinces.
“Besides the domestic market, PVFCCo has been trying to establish positions in other regional countries. Cambodia is our top priority thanks to its close geographic location, economic structure and cultural attitudes,” he added.
In addition to training Cambodian farmers, PVFCCo donated 50 tons of urea to poor farmers in Svay Rieng and Prey Veng provinces last year. The company also donated $25,000 to the families of victims of the Diamond Island Bridge stampede tragedy last November that killed almost 350 people.
PVFCCo enjoyed a successful year in 2010 with impressive business results.
At its annual meeting of shareholders in HCM City on April 8, the company announced an after-tax profit of 1,703 billion dong ($82 million) for 2010 which was 84 per cent higher than forecast by the company. Sales came to 6,999 billion dong ($337 million) in the same period. During the year, PVFCCo produced 807,000 tons of urea which was 9 per cent above the company’s forecast and more than 10 per cent higher than average production in recent years.
According to Vietnamnet.vn, 3rd May, 2011
The commitment was made via seven memorandum of understandings signed between Cambodian and Vietnamese government agencies at the second Investment Promotion to Cambodia Conference held in Phnom Penh on April 24.
The projects comprise Lower SeSan II hydro-electronic project developed by the EVN International, an iron ore exploration project developed by Hoang Anh Ratanakiri Company, a cassava flavour production factory, a refined sugar production factory developed by International Star Company and a plantation developed by Hoang Anh Oyadav Company.
There were around 165 enterprises participating in the conference including 94 Vietnamese enterprises. According to a report from Vietnam’s Foreign Investment Agency, Cambodia ranked the second investment destination of Vietnamese investors with 87 projects and $1.9 billion as of February 28, this year.
The first Investment Promotion to Cambodia Conference was held in Ho Chi Minh City in December 2009, raising Vietnamese investors’ interest in Cambodia. At that time, Cambodian and Vietnamese government agencies signed a memorandum of understanding on cooperation to support exploration and exploitation of a bauxite mine in MoldulKiri, next to Vietnam’s Central Highlands’ Dak Nong province, home to Vietnam’s first alumina project. The Cambodia’s Ministry of Industry, Mines and Energy also signed an agreement on exploration and exploitation and granting licence to the joint venture of alumina exploitation (Cambodia - Vietnam) in December, 2009.
The memorandum paved the way for Vinacomin and Cambodia’s Nadaco in cooperation with BIDV to produce 1.5 million tonnes of alumina in the first stage with total investment capital of $2.5 billion and 2.5 million tonnes in the second stage with investment capital of $3.5 billion.
BIDV chairman Tran Bac Ha said Vietnam’s large corporations wereng implementing their investment in Cambodia in sectors such as finance, banks and insurance, telecom, air carriers, agriculture, energy and mines.
-------------------------------------
VN leading fertilizer producer to expand agri-business in Cambodia
PetroVietnam Fertilizer & Chemicals Corporation (PVFCCo), a major fertilizer manufacturer in Vietnam, announced Saturday plans to expand its agricultural technical transfer programs for Cambodian farmers in at least three more provinces over the coming year.
“In 2011, PVFCCo intends to maintain its leading position in the domestic market while expanding its activities abroad. In Cambodia, we are particularly keen to continue implementing our programs while improving our image and position in the local market,” said Mr. Nguyen Hong Vinh, PVFCCo’s vice president for sales and distribution.
He was speaking at an announcement ceremony in the Cambodian capital Phnom Penh.
The manufacturer, which shares almost 50 per cent of the domestic demand for urea, opened its Phnom Penh representative office in May last year.
PVFCCo has since then launched agricultural technical transfer programs for local rice farmers. Numerous workshops have been held and demonstration plots established in several provinces such as Battambang, Kompong Chhnang and Takeo.
Mr. Vinh said PVFCCo would continue to expand such technical transfer programs to farmers in Kompong Cham, Kompong Thom and Kandal provinces.
“Besides the domestic market, PVFCCo has been trying to establish positions in other regional countries. Cambodia is our top priority thanks to its close geographic location, economic structure and cultural attitudes,” he added.
In addition to training Cambodian farmers, PVFCCo donated 50 tons of urea to poor farmers in Svay Rieng and Prey Veng provinces last year. The company also donated $25,000 to the families of victims of the Diamond Island Bridge stampede tragedy last November that killed almost 350 people.
PVFCCo enjoyed a successful year in 2010 with impressive business results.
At its annual meeting of shareholders in HCM City on April 8, the company announced an after-tax profit of 1,703 billion dong ($82 million) for 2010 which was 84 per cent higher than forecast by the company. Sales came to 6,999 billion dong ($337 million) in the same period. During the year, PVFCCo produced 807,000 tons of urea which was 9 per cent above the company’s forecast and more than 10 per cent higher than average production in recent years.
According to Vietnamnet.vn, 3rd May, 2011
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