The Saigon-Hanoi Commercial Bank (SHB) opened its doors in Phnom Penh on Feb. 9, aiming at boosting trade and economic relations with Cambodia.

Speaking at the launching ceremony, SHB Chairman Do Quang Hien said SHB considers Cambodia the first foreign investment market in its long-term strategy to make itself a modern retail bank of Vietnam and the region.

Cambodian Permanent Deputy Prime Minister Men Sam An highly valued SHB’s move to launch the branch in Cambodia . She said the decision proves firm confidence of foreign investors, including those from Vietnam , in the Cambodian economy.

The bank is expected to contribute to developing the financial-banking market in Cambodia and improving the Cambodian people’s living standards, she said.

Men Sam An also underlined the significance of the branch in boosting Cambodia ’s socio-economic development and relations between the two countries./.