Vietnam’s overseas investment reaches $120 million in three months 

Vietnamese banks have eye on foreign markets

The other side of overseas investment

Vietnam has invested in 190 investment projects in Cambodia with the total registered investment capital of nearly US$ 2.9 billion, focusing on agriculture and forestry whereas the partner offered 19 investment projects with the total capital of US$ 65 million in Vietnamese market.

Vietnam is one of the leading trade partners of Cambodia through the two- way trade turnover growth averaging 9.8 percent year on year.

Last year, the import- export turnover between Vietnam and Cambodia gained US$ 4.7 billion, an increase of nearly 24 percent compared to the same period of the previous year.

Vietnam's export turnover to Cambodia reached US$ 3.7 billion and the import turnover from the neighboring country was less than US$ 1 billion.

According to the tax reduction process of the ASEAN Trade in Goods Agreement (ATIGA), most imported and exported goods across the borders of Vietnam and Cambodia are entitled to between zero and five percent.

Besides, Agreements for double taxation avoidance and fiscal evasion prevention between the two countries being effective on February 20, 2016 has contributed to strenghthening the economic and investment cooperation between the two countries because the agreements shape transparency and visibility of taxation environment for two side businesses. SGGP