Address at the Signing Ceremony of the Agreement

Address at the Signing Ceremony of the Agreement on the Establishment of Cambodia National Airlines between Cambodia and Vietnam National Airlines and the Introduction of Bank for Investment and Development of Vietnam in Cambodia

Phnom Penh, July 26, 2009

Your Excellency Truong Vinh Trong, Deputy Prime Minister of the Socialist Republic of Vietnam,

Excellencies, Ladies and Gentlemen!

It is my great pleasure to be here in the Signing Ceremony of the Agreement on the Establishment of Cambodia National Airlines between Cambodia and Vietnam Airlines and the Introduction of Bank for Investment and Development of Vietnam in Cambodia. This ceremony is indeed held at a time when both countries are pushing hard to advance cooperation in all sectors.

Long-term and sustainable economic development requires joint effort of the Royal Government and both domestic and foreign private sector. In this sense, Cambodia and Vietnam are working together to ensure that this opportunity will bring about prosperity to both countries.

Taking this opportunity, I would like to thank and praise leaders of the Party and the Government of the Socialist Republic of Vietnam for supporting the initiatives raised by Cambodia counterpart to realize the establishment of the National Airline “Cambodia Angkor Air - CAAir” which is a joint venture, 51% owned by Cambodia and the remaining 49% owned by Vietnam Airlines. I believe that this joint venture will take part in strengthening the traditional friendship and bilateral cooperation between the government and people of both countries.

The establishment of the Cambodia National Airlines which is partly owned by the experienced Vietnam Airlines that is equipped with sufficient human resources, will take part in the Royal Government’s Open Sky policy through the improvement of flight services for Cambodian people and inbound and outbound tourists.

The success of the Cambodia National Airlines will bring about national pride and promote tourism development which is a pillar of growth. Taking this opportunity, I would like to urge the management of the newly formed company to pay specific attention on daily operation and delivery of safe flights to meet international standard.

Along with the signing ceremony of the agreement on the establishment of Cambodia National Airlines, we will also issue insurance license, bank license and business license to Vietnamese investors in Cambodia.

Through this, on behalf of the Royal Government of Cambodia, I would like to extend my welcome and support to all Vietnamese companies investing in Cambodia; and I hope this cross-border investment will bring about closer bond of friendship between the people of both countries as well as closer economic cooperation on the basis of mutual benefits.

Finally I wish Excellency Truong Vinh Trong, Deputy Prime Minister of the Socialist Republic of Vietnam, Excellencies, ladies and gentlemen happiness and success for your future endeavors.