Vietnam and Cambodia target $20B in trade by 2026
6 min read
Vietnam and Cambodia strengthened their economic partnership at a business forum held October 11 in Ho Chi Minh City, as both countries work toward ambitious trade targets amid growing bilateral investment flows. The Vietnam-Cambodia Business Forum 2025 brought together around 200 delegates, including government officials and business leaders, to explore expanded cooperation opportunities.
The forum coincided with Vietnam Entrepreneurs' Day and the 72nd anniversary of Cambodia's National Day, underscoring the significance both nations place on deepening economic ties. Vice Chairwoman of Vietnam's National Assembly Nguyen Thi Thanh emphasized that while bilateral cooperation has grown substantially, it remains modest compared to the countries' potential, particularly in green economy, renewable energy, and high-tech agriculture.
Strong Trade Momentum Builds Toward Ambitious Targets
Recent trade data demonstrates the relationship's growing strength. Cambodia-Vietnam bilateral trade reached over $6.05 billion during the first nine months of 2025, with Vietnam continuing as one of Cambodia's most important trading partners. This follows record bilateral trade of $10.1 billion in 2024, representing a 17.5% year-on-year increase.[1][2][3][4]
Vice President of the Cambodia Chamber of Commerce Neak Oknha Lav Kang noted that both countries are working to achieve $20 billion in bilateral trade, with experts considering this target achievable given current growth momentum. Vietnamese Ambassador to Cambodia Nguyen Minh Vu confirmed that Cambodia currently ranks as Vietnam's 12th largest trading partner, while Vietnam remains among Cambodia's top five investors and third-largest trading partner after China and the United States.[3][4][5]
Investment Flows Strengthen Economic Integration
The business relationship extends well beyond trade. Vietnam operates 216 valid projects in Cambodia with registered capital exceeding $3 billion, while Cambodian firms invest in 31 projects in Vietnam worth nearly $74 million. Vietnamese investors ranked among the top five foreign capital sources in Cambodia during the first nine months of 2025, with roughly 75% of Vietnamese capital concentrated in Cambodia's agriculture sector.[1][2][3][4]
The forum witnessed concrete progress with the signing of a Memorandum of Understanding between Vietnam's Visan Company and Cambodia's Degrand Group on cooperation in production and distribution. This partnership exemplifies the "new, more effective and substantial stage of development" that characterizes current business cooperation between the two countries.[2][5][6][1]
Policy Framework Supports Continued Growth
Recent government initiatives have created momentum for expanded trade. Following talks between Vietnamese General Secretary To Lam and Cambodian People's Party President Hun Sen in September, the Vietnamese government issued an Implementation Plan on October 3, 2025, designed to create maximum convenience for businesses through incentives on tax, customs, logistics, and e-commerce. The two governments also signed an Agreement on promoting bilateral trade for 2025-2026.[1][2][3]
Vietnam-Cambodia Friendship Association presented medals "For the Friendship between Vietnam and Cambodia" to individuals from both countries in recognition of their contributions to strengthening bilateral solidarity. The forum's theme of "Connection today - Prosperity tomorrow" reflects both nations' commitment to building on their traditional friendship through enhanced economic cooperation.[4][5][1]
Reference sources:
[1](https://www.vietnam.vn/en/pho-chu-tich-quoc-hoi-nguyen-thi-thanh-du-dien-dan-doanh-nghiep-viet-nam-campuchia-tai-tp-ho-chi-minh)[2](https://www.vietnam.vn/en/phan-dau-dua-thuong-mai-viet-nam-campuchia-dat-20-ty-usd)[3](https://en.vneconomy.vn/plan-approved-to-boost-bilateral-trade-with-cambodia-for-2025-2026.htm)[4](https://en.vietnamplus.vn/vietnam-cambodia-business-forum-2025-held-in-hcm-city-post330319.vnp)[5](https://en.sggp.org.vn/vietnam-cambodia-business-forum-2025-held-in-hcmc-post120964.html)[1](https://en.vietnamplus.vn/vietnam-cambodia-business-forum-2025-held-in-hcm-city-post330319.vnp)[2](https://en.sggp.org.vn/vietnam-cambodia-business-forum-2025-held-in-hcmc-post120964.html)[3](https://www.thestar.com.my/aseanplus/aseanplus-news/2025/10/04/cambodia-and-vietnam-team-up-to-supercharge-economic-ties)[4](https://en.vietnamplus.vn/vietnam-cambodia-team-up-to-supercharge-economic-ties-post329713.vnp)[5](https://www.vietnam.vn/en/phan-dau-dua-thuong-mai-viet-nam-campuchia-dat-20-ty-usd)[6](https://www.vietnam.vn/en/pho-chu-tich-quoc-hoi-nguyen-thi-thanh-du-dien-dan-doanh-nghiep-viet-nam-campuchia-tai-tp-ho-chi-minh)[1](https://www.kampucheathmey.com/kpt-english/1002769)[2](https://english.vov.vn/en/economy/vietnam-remains-one-of-cambodias-leading-trade-partners-post1237297.vov)[3](https://en.vietnamplus.vn/vietnam-cambodia-business-forum-2025-held-in-hcm-city-post330319.vnp)[4](https://en.sggp.org.vn/vietnam-cambodia-business-forum-2025-held-in-hcmc-post120964.html)[5](https://en.vietstock.vn/2025/08/cambodia-vietnam-20b-trade-target-8216achievable8217-experts-say-114-619181.htm)