The National Bank of Cambodia and the Central Bank of Vietnam embark on electronic payment systems

The National Bank of Cambodia and the Central Bank of Vietnam embark on electronic payment systems

Chea Chanto, Governor of the National Bank of Cambodia welcomed Nguyen Huy Tang on his appointment as Ambassador of the Socialist Republic of Vietnam to Cambodia and thanked the Ambassador for his contribution to strengthening and expanding Cooperation between the two countries, especially in the banking sector.

The National Bank of Cambodia and the Central Bank of Vietnam hold annual bilateral meetings to review the progress of cooperation and set out new plans to further strengthen and expand cooperation.

During the meeting, Chea Chanto praised the Vietnamese Commercial Bank of Cambodia for its contribution to respecting laws and regulations and the development of the banking sector, as well as its involvement in social affairs.

Chea Chanto said the two central banks were also developing payment systems, especially promoting electronic payments, to facilitate bilateral trade and investment, as well as cross-border payments.

In the past, with the support of the Government and the Vietnamese Embassy, ​​cooperation between the two central banks has been enhanced on three key points: human resource development, banking sector integration and payment system development, especially promotion of electronic payment.

To date, 23 officials of the National Bank of Cambodia have graduated from Vietnam.

Separately, 5 Vietnamese commercial banks and 1 representative office are operating in Cambodia.

He stated that on the occasion of the 40th anniversary of the re-establishment of the National Bank of Cambodia, the Royal Government of Cambodia also awarded medals to former Vietnamese experts (Commission K) who had contributed to the restoration and development of the Cambodian banking system which re-emerged during the 1980s.

The Ambassador thanked the Governor for supporting the Vietnamese Commercial Bank in Cambodia and for strengthening cooperation in the banking sector of the two countries, which contributed to the development of bilateral trade and investment.

The Ambassador praised the growth of the Cambodian economy, especially over the last two decades, which has led to a rapid increase in the living standards of the Cambodian people.

He noted that the banking sector has contributed significantly to the economic development of the two countries, and even during the COVID-19 period as bilateral trade between the two countries continued to grow to nearly $10 billion.

The Ambassador also invited the Governor and a delegation of the National Bank of Cambodia to visit the Republic of Vietnam, as well as to encourage reciprocal visits after the COVID-19 crisis has eased. Fresh News/Khmer Times