Viet PM welcomes National Bank of Cambodia’s Governor

Prime Minister Nguyen Tan Dung praised the cooperation between the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC), particularly an agreement signed during the NBC governor’s current working visit to Vietnam.

Receiving an NBC delegation, led by its governor Chea Chanto in Hanoi on Dec. 18, PM Dung said that the Vietnamese government and people will do their utmost to boost the friendly, cooperative and neighbourly relations between Vietnam and Cambodia for the benefits of both sides.

The PM welcomed Chea Chanto’s visit, saying that it would promote the two countries’ cooperation, particularly in economics, trade and investment.

He said the fact that Cambodia has granted permission for two Vietnamese banks to open in Cambodia would help to increase the two countries’ bilateral trade to 2 billion USD by 2010 and encourage Vietnamese businesses to invest in Cambodia .

Governor Chea Chanto said that, during the visit, NBC and SBV exchanged views on the economic situation in their two countries and the two banks’ activities in the areas of monetary policy, inspections, supervision and credit organisations’ operations.

He announced that the two sides had signed a memorandum of understanding on the exchange of information regarding banking inspections to create a legal basis for stricter management, increased efficiency and more safety and security for the two countries’ commercial banks.

Chea Chanto affirmed that Cambodia would create favourable conditions for the Agribank and Sacombank, as well as other Vietnamese banks to open branches in Cambodia.