Vietnamese firms partner to upgrade telecoms network in Cambodia

MB Cambodia and Metfone sign the contract in Phnom Penh on May 4. (Photo: VNA)

Phnom Penh (VNA) – MB Cambodiaand the Viettel (Cambodia) Pte., Ltd (Metfone), two Vietnamese-invested firms,on May 4 signed a special credit package contract for 2022 to upgrade thetelecoms network in Cambodia.

Under this contract, MB Cambodia, abranch of Vietnam’s Military Commercial Joint Stock Bank, will provide a creditpackage with a limit of up to 100 million USD for Metfone, an affiliate of theViettel Military Industry and Telecoms Group, to upgrade the telecom servicesnetwork and expand operations in Cambodia.

Metfone and MB Cambodia are assessedas leading Vietnamese businesses in Cambodia over the past decade.

Vietnamese Ambassador to Cambodia Nguyen Huy Tangdescribed the signing of the contract as an important event since both have gained afoothold in the telecommunications, e-payment, e-wallet, and financial -banking sectors in Cambodia.

He held that this partnership willhelp promote Vietnamese firms’ stature in Cambodia, thereby contributing to thetwo countries’ cooperation, especially in economy.

Bilateral trade has recordedimpressive growth in recent years, hitting 5 billion USD in 2020 and 9.3billion USD in 2021, statistics showed./.

VNA