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
(*)
   
RoK-VN FTA negotiations to conclude at year’s end
The RoK expects to conclude the negotiations and sign a FTA with Vietnam by the end of this year.
Over 1,000 workers return home safely from Libya
As of August 12, 1,024 Vietnamese workers have been successfully evacuated from strike-torn Libya.
VN, EU work to enhance bilateral cooperation
VN and the EU have pledged to step up efforts to conclude negotiations for a bilateral FTA by October
PM stresses importance of multilateral diplomacy
Multilateral diplomacy forms an important part of VN’s policy on external relations, said the PM.
ASEAN FMs concerned over East Sea tensions
ASEAN FMs on August 10 expressed their deep concern over recent tensions in the East Sea.
VN, Chinese FMs hold meeting in Myanmar
Deputy PM and FM Pham Binh Minh met with Chinese FM Wang Yi Myanmar on Aug. 8.
Vietnamese workers in Libya airlifted via Egypt
As many as 682 Vietnamese guest workers will be evacuated from Libya via Egypt.
VN to host first-ever Asia- Europe music festival
The Asia-Europe New Music Festival 2014 will be held in Vietnam for the first time.

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