Vietnamese group to invest $1 billion in Cambodia

Sok Chan / Khmer Times No Comments Share:

Vietnam-based company FLC Group will invest $1 billion in a number of projects in the local agriculture, tourism and aviation sectors, the Minister of Agriculture announced last week.

After a meeting with a delegation of the Vietnamese conglomerate, Minister Veng Sakhon told reporters on Thursday that FLC was intending to invest up to $1 billion next year.

With regards to the agriculture sector, the company wishes to invest in vegetable and fruit production for export and in processing and packaging factories, the minister said.

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The FLC Group has been operating for 16 years and is currently a major real estate developer, particularly of resorts.

In April, Cambodia and Vietnam reached an agreement on the avoidance of double taxation and the prevention of fiscal evasion.

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