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SBV Deputy Governor visits Cambodia and Laos
Deputy Governor Nguyen Dong Tien of the State Bank of Vietnam (SBV) paid a visit to Cambodia on June 23 on the occasion of the opening of a branch of the Saigon Thuong Tin Joint-Stock Commercial Bank (Sacombank) in the Capital City of Phnom Penh. The opening ceremony was also attended by Mr. Chea Chanto, Governor of the National Bank of Cambodia, Mr. Kep Chuk Tena, Mayor of Phnom Penh, and Mr. Dang Van Thanh, Chairman of the Board of Directors of Sacombank.
In his keynote speech, Deputy Governor Nguyen Dong Tien highlighted the traditional cooperation between Vietnam and Cambodia. He said: “Over the past years, the economic, trade and investment relations between the two countries have increasingly developed. The two-way trade turnover in 2008 reached USD 1.7 billion and is expected to USD 2.5 billion in 2009. Against this background, the opening of the Sacombank branch today reflects the relations of close cooperation between SBV and NBC and the two banking sectors, hence contributing to the strengthening of multi-sided cooperation between the governments of the two countries”.
Deputy Governor Nguyen Dong Tien, on behalf of the SBV Management Board, expressed his gratitude to the Cambodian Government, the National Bank of Cambodia, the Phnom Penh administration and other relevant Cambodian authorities for having facilitated operations of Vietnamese commercial banks in Cambodia.
Prior to the Cambodia visit, Deputy Governor Nguyen Dong Tien had visited Vientiane of Laos to attend the ceremony to present the Labor Order of Third Class of the President of the Socialist Republic of Vietnam to the Lao-Viet Joint-Venture Bank. This ceremony was also attended by Mr. Truong Vinh Trong, Member of the Political Bureau of the Central Committee of the Communist Party of Vietnam and Deputy Prime Minister of the Vietnamese Government, and Mr. Somsavat Lengsavad, Member of the Political Bureau of the Central Committee of the Lao People’s Revolutionary Party and Deputy Prime Minister of the Lao Government.
The presentation of this Labor Order acknowledged the active contribution made by the Lao-Viet Joint-Venture Bank over the past few years to promoting the capital and currency flows between the two countries and the enhancement of monetary policy management of the two central banks.
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