Vietnamese bank upgrades business form to boost investment in Cambodia
The increasing number of Vietnamese investors gives more potential to the Cambodia market. Saigon Though Tin Commercial Bank (Sacombank), on October 5, opened fully its operation as a foreign bank in Cambodia where before it was just a branch in Phnom Penh after the business growth in the country. This bank inaugurated the opening of the 100 percent foreign-owned Sacombank Cambodia Plc in the country which transferred from a branch to a full fledged operation in order to increase cross-border trade between Cambodia and Vietnam as well as expansion of Sacombank in Indochina and to foster business development. The new bank has received approval from the National Bank of Cambodia and is supported by the State Bank of Vietnam. During the two years as a branch in Cambodia, Sacombank connected trade between Cambodia and Vietnam as well as Phnom Penh and Ho Chi Minh…
