Vietnam Boosts Banking Ties with Laos and Cambodia
The State Bank of Vietnam (SBV) has inked cooperation deals with the State Bank of Laos and the National Bank of Cambodia during its delegation visit to the two neighboring countries.
The SBV Governor Nguyen Van Giau and Lao counterpart Phouphet Khamphounvong signed a payment agreement December 12, which aimed to encourage businesses in two countries to boost transactions and payments in Vietnamese and Lao currencies, while less using other currencies.
The two governors agreed to help the Lao-Vietnam Joint Venture Bank to make payments worth VND200 billion a year.
The two banks highlighted the collaboration in professional and personnel training and experience sharing in 2007.
The SBV also reached a memorandum of understanding with the National Bank of Cambodia in order to boost cross-border payments to facilitate imports and exports between two countries.
Vietnamese and Cambodian banking authorities agreed to further share experience in training human resources.
Cambodia will allow Vietnam to open joint stock banks in the country and the Bank for Foreign Trade of Vietnam to open its branch.
(VNA)
Vietnamese
