Hanoi (VNA) – The Vietnamese Business Club inCambodia (VBCC) made its debut at a ceremony in Phnom Penh on August 28.

The ceremony, which gathered 100 Vietnamese firms in thecountry, saw the attendance of Vietnamese Ambassador to Cambodia Vu Quang Minhand deputy head of the State Committee for Overseas Vietnamese Affairs LuongThanh Nghi.

Nguyen Thanh Dung, Director of the Vietnam Bank forAgriculture and Rural Development (Agribank)’s Cambodia branch and head of theclub, delivered a speech at the vent.

Dung stated the club aims at mobilising maximum resourcesfrom and promoting strengths of its members, while creating an environment forthem to access information, share experience, support one another and contactthe embassy.

Ambassador Minh praised the role of the Vietnamese businesscommunity in Cambodia and attributed the establishment of the club to tirelessefforts of the community in a bid to increase their position in the hostcountry.

The diplomat said he expects the cooperation mechanism willhelp the community thrive, thus contributing to Cambodia’s prosperity and tostrengthening Vietnam – Cambodia solidary and collaboration.

The VBCC is designed to operate following Vietnamese andCambodian laws based on the principles of voluntary participation, equality,transparency, and financial autonomy. It executive board includes one honorarychairman, one chairman, three vice chairmen, three professional sub-committees,and an advisory committee.

Currently, there are 200 Vietnamese enterprises investing atotal of more than 3 billion USD in Cambodia. The investment mostly focuses onagriculture, telecommunication, finance-banking, aviation, logistic,healthcare, and education.

A number of Vietnamese firms have grown to the leading position of theirsectors in the host nation like the Vietnam Rubber Group, Metphone, Vietnam Airlines,Chak Angre hospital, Angkok Milk, Agribank, Sacombank and MB bank.

Despite advantages brought from favourable policies issuedby the two governments, these firms still face various difficulties regardingcapital sources, taxation, administrative procedures, and market information.

Therefore, the birth of organisations like the VBCC, the Associationof Vietnamese Investors in Cambodia, and the Khmer – Vietnam entrepreneurassociation under the Khmer – Vietnam association will help facilitate theiroperation.-VNA