A forum to enhance cross-border e-commerce and the digital economy between Vietnam and Cambodia was held in Phnom Penh, Cambodia, on December 25.

The event was jointly organized by the Vietnamese Embassy in Cambodia, the Ministry of Industry and Trade, and the Vietnam-Cambodia Business Association (VCBA), according to a report from the nationa radio broadcastor Voice of Vietnam.

Speaking at the forum, Vietnamese Ambassador to Cambodia Nguyen Huy Tang emphasized, “To turn the commitments to promote economic, trade, and investment cooperation from the high-level leaders of both countries into reality, especially the goal of achieving a trade turnover of $20 billion in the future, businesses from both Vietnam and Cambodia play a crucial role. They are tasked with connecting and promoting trade and investment, fully exploiting the inherent potential of both countries, where e-commerce and the digital economy play an increasingly important role.”

According to Mr. Do Quoc Hung, Director General of the Asia-Africa Market Department, Ministry of Industry and Trade, the trade turnover between the two countries is expected to exceed $10 billion in 2024, an increase of nearly 20% compared to 2023.

Data from the Council for the Development of Cambodia (CDC) shows that in the first 11 months of 2024, Vietnam's investment in Cambodia included six licensed projects with a total registered capital of $70 million.

It is projected that the trade turnover should reach at least $15 billion, and investment should reach $5 billion within the next three years, with significant contributions from the e-commerce and digital economy sectors.

Mr. Thai Seareyvuth, Director of the e-commerce company Droppii in Cambodia, highlighted that Cambodia is currently one of the promising markets in the ASEAN region, with rapid digital transformation and e-commerce development. Favorable tax incentives and a supportive legal framework create an attractive investment environment.