By Agencies
The Shanghai Commercial & Saving
Bank (SCSB), one of the leading banks in China's Taiwanese region,
opened a representative office here on Monday thanks to increasing
interest in Cambodia by Taiwanese business people, a bank official said.
Peter Hsu, chief of the SCSB representative office in Cambodia, said the bank's decision to open
the office in Phnom Penh was made after it saw that Cambodia was an
emerging country in Southeast Asia and its economy has seen sustainable
growth in recent years.
"With the office here, the bank will
collect information regarding Cambodia and provide financial consulting
and service platform to our customers who want to expand their
businesses into Cambodia," he said at the launching ceremony.
To
date, Cambodia has six foreign banks' representative offices, 34
commercial banks, seven specialized banks, and 37 microfinance
institutions, according the National Bank of Cambodia.
Trade
volume between Cambodia and Taiwanese region was valued at 700 million
US dollars last year, according to the SCSB press release.
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