Vietnam and Cambodia have signed a memorandum of understanding (MoU) on preventing money laundering and terrorism financing.

The MoU was reached between the Governor of the State Bank of Vietnam, Nguyen Van Binh, and the Governor of the National Bank of Cambodia, Chea Chanto, in Phnom Penh on March 28.

Accordingly, the two countries will promote the exchange of information between their relevant agencies to investigate and deal with financial crimes relating to money laundering and terrorism financing.

Vietnam also pledged to assist Cambodia with personnel training in the finance-banking sector.

Thanks to rapid and sustainable growth in recent years, Cambodia has emerged as an attractive investment destination in the region. At present, the country has more than 30 foreign banks registering for business operations, including five from Vietnam.

Source: VOV