Politics

Indochinese banks team up for better service

The Bank for Investment and Development of Vietnam (BIDV) signed a comprehensive cooperation agreement with five leading banks of Laos and Cambodia in Hanoi on January 7.
The Bank for Investment and Developmentof Vietnam (BIDV) signed a comprehensive cooperation agreement withfive leading banks of Laos and Cambodia in Hanoi on January 7.

The foreign banks included the Banque pour le Commerce Exterieur Lao(BCEL), the Lao Development Bank (LDB), the Canadia Bank of Cambodia(Canadia Bank) and the Foreign Trade Bank of Cambodia (FTB) and theRural Development Bank of Cambodia (RDB).

According to the agreement, the banks will cooperate in all fields,linking their banking services under the legal framework of eachcountry and international common practices. The banks will givepriority to providing funds to development projects, cooperate ininternational settlement, share experiences, provide information,supervise staff training and disclose banking techniques.

The joint efforts among leading banks in Indochina will createfavourable conditions for trade and investment, helping promoteeconomic ties in the peninsular, stressed BIDV Chairman of ManagementBoard Tran Bac Ha./.
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Prime Minister Pham Minh Chinh arrives in Kazan city of Russia (Photo: VNA)

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