Vietnamese enterprises in Cambodia strengthen strategic cooperation

Thursday, 2020-03-26 16:20:59
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MB Cambodia and Metfone signe a Memorandum of Understanding on five-year strategic partnership cooperation. (Photo: NDO)
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NDO - Viettel Cambodia (Metfone), a subsidiary of Vietnam’s military-run telecommunications company Viettel Group and MB Cambodia, a branch of Vietnam’s Military Commercial Joint- Stock Bank (MB) signed a Memorandum of Understanding on a five-year strategic partnership of cooperation to strengthen their development in and contributions to Cambodia.

As per the signing ceremony held in Phnom Penh on March 26, MB Cambodia will fully meet the credit demand of Metfone and provide the company with all corporate financial services with a credit limit of US$100 million as well as a competitive interest rate.

The bank will also provide a credit package of US$15 million combined with preferential interest rates and incentives for Metfone’s partners, subsidiaries and employees.

Meanwhile, Metfone will prioritise the transferring of its revenue to the bank account opened at MB Cambodia and use the various financial services of the bank.

In addition, the telecommunications company will prioritise remittances to Vietnam through the MB systemand provide telecommunication services to MB Cambodia at preferential prices.

Metfone has been operating in Cambodia for over 10 years, becoming one of the leading telecommunications companies in the country. It has created jobs for more than 12,000 workers and contributed a total of over US$500 million to the Cambodian budget.

Metfone has also solidified its position in the Cambodian market with two branches and 120 agents across the country.