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
(*)
   
ASEAN called for stronger maritime links
Vietnam highlighted the need for ASEAN to boost collaboration on maritime issues at a forum.
Implementation of Uncle Ho’s testament reviewed
A workshop was held to review the implementation of Ho Chi Minh’s testament over the last 45 years.
Party chief's envoy visits China
Le Hong Anh started his two-day visit to China on August 26 as the Party chief's Special Envoy.
EC treasures cooperation with VN
The EC attaches importance to developing its friendship and cooperation with Vietnam.
VN prioritised in India’s Look East policy
The new Indian Government continues to regard VN as a pillar in its Look East policy.
WB praises VN’s response to climate change
The WB highly values the measures the country is taking to cope with climate change.
August CPI growth hits 9-year low
Vietnam's CPI this month increased by 0.22 percent over that of last month.
Party chief’s Special Envoy to visit China
Le Hong Anh, Special Envoy of Party General Secretary, Nguyen Phu Trong will visit China on Aug. 26-27.

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