With a national GDP of about USD 31.9 billion and a GDP per capita of more than USD 1,832, Phnom Penh Capital is the main growth engine driving the country's robust economic transformation. The services and industrial structure of Phnom Penh's economy is quite stable and competitive in the region. The manufacturing of textiles, clothing, and shoes, rapid urban expansion and building, and financial and commercial services are the city's main strengths. Phnom Penh is speeding up the development of its digital economic ecosystem, smart urbanization, technology applications, digitization of public services, and improvement of the high-tech, environmentally friendly agriculture value chain in the new era.
Former Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen visits the medical staff of Cho Ray - Phnom Penh Hospital
– Photo: Sai Gon Giai Phong Online Newspaper
The two communities' collaborative accomplishments over the last 20 years have been extremely significant and influential in the areas of trade, healthcare, education, economy, and transportation infrastructure. Through targeted action programs, social welfare initiatives, and the transfer of climate-adapted smart agricultural cultivation technologies, the bilateral commerce corridor has been steadily strengthened. Significant milestones have been reached by recent practical projects, most notably high-level agreements on prioritizing the promotion of road transport connectivity infrastructure and optimal transport solutions, which have created favorable conditions for the growth of direct investment flows and cross-border commercial activities.
Looking toward the future, particularly within the context of the Southern Economic Corridor being actively promoted by both nations, Ho Chi Minh City is expanding its partnership networks to attract direct investment and forge strategic alliances with partners from Phnom Penh Capital across three key areas:
1. Cross-Border Transport Infrastructure and Logistics: Focusing on coordinated efforts to accelerate the progress of the Ho Chi Minh City-Moc Bai Expressway project to seamlessly connect with the Phnom Penh-Bavet Expressway and developing optimal transport connection schemes to establish an efficient cross-border logistics network, thereby reducing cargo circulation costs.
2. Exclusive Economic Zones and Commercial Services: Researching and testing cross-border economic zone models at border gate areas; drawing investment flows from businesses in both localities into the supply chain of the processing industry, cross-border trade, and financial institution connections.
3. Healthcare, High-Tech Agriculture, and Tourism: Keeping up the expansion of collaborative training programs for top-notch human resources, transferring climate-adapted smart agricultural cultivation models, and concurrently encouraging medical tourism, advanced health screening, and international and interregional travel.