BIDV subsidiary company opens seventh branch in Cambodia

The new branch office is located in Mean Chey district - an important economic sector of Phnom Penh where many Vietnamese businesses are involved in projects including one to build Cho Ray-Phnom Penh Hospital which is expected to put into operation early next year.

Addressing the inauguration ceremony, Uok Maly, deputy governor of the National Bank of Cambodia highlighted the BIDC’s efforts to improve the quality of its branch operations and contribute to developing the finance and banking system for the benefit of Cambodian economic growth.

She expressed her hope that the BIDC will continue to strengthen cooperation with the National Bank of Cambodia to meet customer demand and maintain the stable and sustainable growth of the banking system.

Cambodia is expected to achieve its economic growth of 7% this year, with two-way trade with Vietnam estimated at US$3.5 billion.

By September 2013, Vietnam had 126 investment projects in Cambodia with a total capitalization of more than US$3 billion, ranking fifth among the largest foreign investors in Cambodia.