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 19.

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 USD 750 million and outstanding balance of more than USD 600 million.

Delegates at the ceremony to mark the 10th founding anniversary of BIDC

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 recognized 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 programs 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 USD 3 billion.

Vietnam-Cambodia trade reached USD 4.7 in 2018 and is expected to hit USD 5 billion in 2019, he added.

Source: VNA