Thaco has invested billions of US dollars in agricultural projects in Cambodia, creating massive integrated production and livestock complexes. Photo: thanhnien.vn  

In recent years, Laos and Cambodia have emerged as increasingly important partners for Vietnam, not only as suppliers of agricultural raw materials but also as integral components of a closely interlinked network of trade, investment and production.

Tens of billions of dollars in investment

Statistics show that Vietnam–Cambodia trade and investment cooperation has increasingly expanded. Cambodia currently ranks second among 85 overseas investment destinations of Vietnam, while Vietnamese tourists remain the largest source of visitors to the country. In 2025, bilateral trade reached 11.33 billion USD, up nearly 12% year-on-year.

In terms of investment, recent years have witnessed a strong Vietnamese corporate presence in Cambodia. Truong Hai Group (Thaco), for instance, has taken over agricultural projects previously invested in by Hoang Anh Gia Lai and injected hundreds of millions of US dollars, developing large-scale integrated complexes for banana cultivation and cattle farming. These projects aim to build a circular agricultural ecosystem expected to generate substantial revenues in the future. According to Tran Bao Son, CEO of Thaco Agri, beyond infrastructure investment, Thaco’s projects have created jobs, improved living standards and contributed to human resources development in Cambodia, with a long-term orientation toward increasing local employment. Other long-standing Vietnamese investors include telecommunications, banking and dairy enterprises such as Metfone, BigPhone, Military Commercial Joint Stock Bank (MB) Cambodia and Angkor Milk.

Metfone, with 90% investment from Viettel Group, has operated in Cambodia since 2006 and officially launched commercial services in 2009. Over nearly two decades, it has developed the country’s largest telecommunications and digital infrastructure network, covering 96% of Cambodian territory and providing 4G coverage among the best in the region.

In manufacturing, Angkor Milk - invested by Vinamilk - became Cambodia’s first dairy factory. Since its inauguration in 2016, it has captured more than 30% of the domestic market and plans to further expand production capacity and develop large-scale dairy farming projects.

Associate Professor Dr. Nguyen Thuong Lang of the Institute of Trade and International Economics under the National Economics University noted that with advantages in geographical proximity, convenient transport connectivity, strong market demand, relatively similar policy frameworks and rich mineral potential, Cambodia has consistently been an attractive destination for Vietnamese investors. With a population of nearly 18 million, the country also represents a market with substantial aggregate consumer demand. Beyond serving Cambodia’s domestic market, Vietnamese goods have ample opportunities to expand their market share in Europe, the Republic of Korea and other markets, thanks to the trade agreements Cambodia has concluded with its partners.

Vietnam remains largest investor in Laos

Laos continues to be Vietnam’s largest overseas investment destination, with total registered capital exceeding 6.21 billion USD. In the first 11 months of last year, Vietnamese investment in Laos surged more than sevenfold year-on-year to reach 590.3 million USD. Many projects have operated effectively, generating employment, contributing to state revenues and fulfilling social responsibilities, particularly in telecommunications, banking, rubber processing and agriculture.

Trade cooperation has also recorded new milestones. In 2025, bilateral trade reached 2.98 billion USD, up 32.7% from the previous year, reaffirming Vietnam’s position as Laos’ third-largest trading partner.

Looking ahead, experts believe that major infrastructure connectivity projects, such as the Hanoi–Vientiane expressway and the Vung Ang–Vientiane railway, along with green transition and digital transformation initiatives, will further accelerate trade and investment ties.

For the 2026–2030 period, both Parties have agreed to make economic, trade and investment cooperation a new strategic pillar, opening a fresh chapter in the great friendship, special solidarity, comprehensive cooperation and strategic cohesion between Vietnam and Laos./.