The Cambodia-based branch of the Military Commercial Joint Stock Bank (MB Cambodia) will provide up to US$100 million for Viettel (Cambodia) Pte., Ltd (Metfone) to upgrade the telecoms network in the Cambodian market under a contract on a preferential credit package.

Metfone partners with MB Cambodia to upgrade the telecoms network in Cambodia. Photo: Metfone

The signing ceremony was held with the presence of representatives from two sides on May 4. 

Speaking at the event, Vietnamese Ambassador to Cambodia Nguyen Huy Tang said that the signing of this credit contract is an important event for both the enterprises who have left their marks in the fields of telecommunications, e-payment, e-wallet, and financial-banking services in the neighboring country.

Ambassador Tang underlined this cooperation helps improve the position of Vietnamese businesses in Cambodia, thereby contributing to improving the efficiency of cooperation between the two countries, especially in the economy.

According to MB Cambodia Director Nguyen Anh Khanh, from the first days of investing and doing business in Cambodia, the two companies have engaged in effective cooperation, bringing value to both sides as well as to the Cambodian community and consumers.

The two businesses have jointly researched new products based on their strengths to adapt to changes in the economy and the process of digital transformation in both Vietnam and Cambodia.

In the past two years, Vietnam-Cambodia trade turnover recorded spectacular growth when reaching the milestone of $5 billion in 2020 and $9.3 billion in 2021.