Cambodian bank opens branch in HCM City December 27, 2009Posted by chandrapong007 in Business, Cambodia, Economics.
The Bank for Investment and Development of Cambodia (BIDC) opened its branch in HCM City on December 26 in the presence of Cambodian Prime Minister Samdech Hun Sen and his Vietnamese counterpart Nguyen Tan Dung.
Addressing the opening ceremony, Chairman of BIDC management board, Tran Thanh Van stated that the establishment of BIDC in HCM City aims to provide financial support and banking services for Vietnamese investors and businesses that want to invest in Cambodia. It will create a channel linking the banking systems of Vietnam and Cambodia to promote investment and trade between the business communities in the two countries.
Mr Van pledged to operate the BIDC and its HCM City branch effectively and legally under the laws of both countries.
The BIDC was officially put into operation on July 26 in Phnom Penh, with its entire capital sourced from the Cambodian Investment and Development Co, Ltd (IDCC).