Thang Long - Hanoi

Vietnamese bank’s subsidiary opens new branch in Phnom Penh
23/12/2013 | 11:22:00
EMAIL PRINT Bookmark and Share SHARE Font Size A A A
A subsidiary of the Bank for Investment and Development of Vietnam on December 22 opened its seventh branch in Mean Chey district, Phnom Penh.

This marks an effort of the Bank for Investment and Development of Cambodia (BIDC) in stepping up its strategy of penetrating and building up firm position in Cambodia ’s finance and banking system.

The new branch is also expected to meet demand of the host country and boost the development of trade and investment ties between Vietnam and Cambodia.

Addressing the event, Uok Maly, Deputy Governor of the Cambodian National Bank praised BIDC’s efforts in expanding its network in the country, which, she said, help strengthen the finance and banking system of Cambodia .

She noted that after four years of operation, BIDC has recorded remarkable achievements, becoming the fifth largest bank in Cambodia with seven branches in key economic hubs of the country.

BIDC acts as a bridge between the two markets, helping increase Vietnam ’s investment to Cambodia , making the country one of the five largest foreign investors in Cambodia in 2012, she added.

In 2013, the Cambodia economy is forecast to maintain its growth of over 7 percent. As of September, Vietnam had 126 projects valued at 3 billion USD in Cambodia . Two-way trade is expected to hit 3.5 billion USD this year.-VNA

COMMENTS
Your comments will be likely edited before publishing
Fullname
(*)  
Email
(*) 
Content
(*)
   
Leaders pay tribute to war heroes
VN’s top leaders on July 25 laid a wreath and offered incense in tribute to war heroes and martyrs.
Seven-month CPI sees lowest rise in 13 years
The CPI in the first seven months of 2014 was up 1.62 percent year-on-year.
ASEAN, EU look towards strategic partnership
ASEAN and the EU agreed to develop their ties into a strategic partnership.
VNA, PRD to enhance information sharing
The VNA and Thailand's Public Relations Department (PRD) have vowed to enhance information exchange.
Seminar marks 60 years of Geneva agreement
A seminar was held in Algeria to mark the 60th anniversary of the Geneva Agreement.
VN ready for Int’l Chemistry Olympiad 2014
Everything is in place for the 46th International Chemistry Olympiad, which will kick off in Hanoi on July 21.
PM greets former US president Clinton
Prime Minister Nguyen Tan Dung welcomed former US President Bill Clinton in Hanoi on July 18.
VN vows to optimise use of WB loans
Vietnam will use loans committed by the WB in the most effective way, said PM Nguyen Tan Dung.

EMAIL PRINT Bookmark and Share SHARE Font Size A A A
Other websites:
Partners: