Domestic business operates effectively in Cambodia
A five-star international fertilizer plant is one of Vietnam’s biggest projects in Cambodia with a capitalization of US$65 million to promote agricultural cooperation between Vietnam and Cambodia.
Cambodian Deputy Prime Minister Men Som On made the statement during a visit to a plant’s construction site in Kean Svay district, Kandal province, on May 8.
Men Som On praised efforts made by the Five-Star International Group’s leaders, engineers and workers to complete their construction work on schedule.
She expressed her hope that when the plant begins operations later this year it will produce international standard fertilizer with a Cambodian trademark and help the country fulfill its target for exporting 1 million tonnes of rice before 2015.
Tran Van Muoi, President of the Group, said the first batch of fertilizer will come out in November.
The plan is designed to annually produce 350,000 tonnes of fertilizer in the first phase and 500,000 tonnes in the second phase.
Currently, the Five-Star International Group is the biggest distributor of fertilizer and pesticide in Cambodia.
According to the Vietnam Investors Association in Cambodia, Vietnam with a total of 98 projects worth US$2.4 billion ranks fourth among foreign investors in Cambodia, after China, the Republic of Korea and Australia.