NBC chief Serey hails Vietnam’s BIDV progress
NBC chief Serey hails Vietnam’s BIDV progress
Chea Serey, Governor of the National Bank of Cambodia (NBC), Friday heaped praise on the Board of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and sought support from the Bank for Investment and Development of Cambodia Plc (BIDC) to maximize the output.
During a meeting with Phan Duc Tu, Chairman of the BIDV, the largest commercial bank in Vietnam in terms of assets, in Phnom Penh, Serey applauded the progress of the Bank for Investment and Development of Cambodia Plc (BIDC) operations, a subsidiary of the BIDV, which has branches in all major cities of Cambodia, as well as in Hanoi and Ho Chi Minh cities of Vietnam.
Nguyen Van Giau, former Governor of the State Bank of Vietnam (SBV) was also present on the occasion.
Serey welcomed the introduction of new projects and plans to be implemented in Cambodia while also encouraging BIDV to further provide support to BIDC to maximize the output.
She stressed the importance of consistently implementing the regulatory framework launched by the national bank to promote sustainable financial operations in the Kingdom.
Tu told Serey about the 15 years of operational progress of the BIDC in the country, emphasising its contributions to facilitating trade settlement between the two nations while also serving as a funding source to promote investment growth in particular, financing Vietnamese investment projects in Cambodia.
The BIDV Chairman went on to praise NBC for setting out several favourable measures and conditions to facilitate financial operators in the country amid the unfavourable global economic environment.
Speaking to Khmer Times, Niraj Gupta, Director of Macro Computing Solutions Co Ltd, emphasised the importance of robust digital infrastructure and regulatory compliance in fostering sustainable financial operations in Cambodia, in line with recent guidance from the national bank.
Gupta said, “As the financial sector continues to evolve, particularly with the growth of digital financial services, there is a pressing need to strengthen the underlying infrastructure to ensure secure and efficient operations, including extending these services to rural areas.”
He added that the consistent implementation of regulatory frameworks, as highlighted by NBC Governor, is vital to ensuring that the banking sector remains resilient and capable of adapting to new challenges.
“Collaboration between financial institutions and regulatory bodies is essential for fostering a digital ecosystem that not only enhances operational resilience but also supports long-term economic sustainability,” Gupta noted.
He further stressed that initiatives aimed at boosting financial literacy and public-private partnerships will be critical to advancing the adoption of innovative solutions that benefit the broader economy.
