Cambodia’s central bank governor hails Vietnamese firms’ contributions
Governor of the National Bank of Cambodia Chea Chanto has praised contributions by Vietnamese enterprises, especially those operating in the banking sector, to promoting the two countries’ prosperity and tightening solidarity between the two peoples.
At the inaugural ceremony of a new branch of MB Cambodia in Phnom Penh. (Source: VNA)
PhnomPenh (VNA) - Governor ofthe NationalBank of Cambodia Chea Chanto has praised contributionsby Vietnamese enterprises, especially those operating in the banking sector, topromoting the two countries’ prosperity and tightening solidarity between thetwo peoples.
Speaking at a recent ceremony to inaugurate a new branch of MB Cambodia – a subsidiaryof the Military Commercial Joint Stock Bank (MBBank) of Vietnam inPhnom Penh, Governor Chea Chanto hailed the Vietnamese bank for its decision toexpand investment after the nine years of operation in the Cambodian market.
The move shows Vietnamese investors’ increasing confidence in the market, he added.
He handed over an operation license to representatives of the Orusei office – thenew branch of MB Cambodia in Phnom Penh.
In recent years, thanks to maintaining the high economic growth rate at 7percent per year and political stability, Cambodia has become an attractivemarket to Vietnamese firms.
Vietnam has so far invested in 214 projects worth 3.2 billion USD in Cambodia. In the first seven months of 2019, Vietnamhad four new investment projects in the country and four others with increased capitalwith total registered capital of 38.5 million USD, equaling to the capitalpoured into Cambodia in 2018.
The Cambodian Government has applied a series of preferential policies ontaxes, customs procedures, licensing in order to attract and create favourableconditions for foreign businesses to invest and do business in Cambodia.-VNA
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At the inaugural ceremony of a new branch of MB Cambodia in Phnom Penh. (Source: VNA) 
