The Bank for Investment and Development of Cambodia (BIDC), a subsidiary company from the Bank for Investment and Development of Vietnam (BIDV) inaugurated its seventh branch in Cambodia on December 22.
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.