Delegates at the ceremony to mark the 10th founding anniversary of BIDC (Photo: VNA)
The BIDC has played a leading role among Vietnamese businesses operating in Cambodia, with strong performance in connecting economic-trade-investment activities of the two countries, she said at a ceremony to mark the 10th founding anniversary of the BIDC in Phnom Penh on September 19th.
Formerly known as the Prosperity and Investment Bank, the BIDC became operational in September 2009. Over the past 10 years, the bank has become one of the biggest commercial banks in Cambodia with total assets exceeding USD750 million and outstanding balance of more than USD600 million.
Governor of the National Bank of Cambodia Chea Chanto said the BIDC has helped connect the Vietnamese and Cambodian economies, especially in agriculture and rural development.
He recognised the significant role of the bank in Cambodia’s banking system.
The BIDC and other BIDV trade representatives in Cambodia have made considerable contributions to clinching a stable position for the Vietnamese firms in the country, promoting economic development programmes between the two countries, and fulfilling social responsibilities.
According to Vietnamese Ambassador to Cambodia Vu Quang Minh, Vietnam ranks third among investors in Cambodia with total investment of more than USD3 billion.
Vietnam-Cambodia trade reached USD4.7 billion in 2018 and is expected to hit USD5 billion in 2019, he added./.