Bilateral meeting between the State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) was organized in Siem Reap, Cambodia on February 17, 2017.
Bilateral meeting between SBV and NBC
Attending the meeting were SBV Governor Le Minh Hung, SBV Deputy Governor Dao Minh Tu and Directors of a number of SBV departments, namely International Cooperation Department, Financial Supervision Agency, Governor’s Office, Foreign Exchange Management Department, Human Resource Department, Monetary Policy Department, Issuing and Vaulting Department and Communication Department; on the NBC side, NBC Governor Chea Chanto and leaders of NBC entities.
Speaking at the opening session of the meeting, NBC Governor Chea Chanto warmly welcomed SBV delegation led by Governor Le Minh Hung to Cambodia; at the same time, he expressed his belief that the bilateral meeting between the SBV and NBC would be held successfully and obtained expected results. He highly appreciated the precious opportunity for the two sides to acquire economic and financial situations of the two countries, thereby setting priorities for cooperation between the SBV and NBC.
For his part, Governor Le Minh Hung expressed his honor to be co-chairman of the bilateral meeting between the SBV and the NBC for the first time as being the SBV Governor. He said that the meeting was an important occasion for the two sides to update and share helpful information as well as discuss measures of enhancing cooperation between the SBV and the NBC in particular and the banking system of the two countries in general. He recommended organizing meetings annually to exchange and strengthen cooperation and technical assistance between the SBV and the NBC.
Moreover, the two sides exchange information regarding to macro-economic situations and banking sector development of the two countries.
About the cooperation of the two central banks, the two Governors affirmed the maintenance of good relationship and bilateral cooperation and support in regional and international forums as well as set cooperation plan in the coming time as follows: the SBV and the NBC would continue coordinating to implement effectively memorandums of understanding in various fields such as general memorandum of understanding, memorandum of understanding on cooperation in border payment, banking supervision and anti-money laundering and etc.
Besides, the two Governors reached agreement of continuing to enhance cooperation in the fields of economy, commerce and tourism among Cambodia, Lao P.D.R, Myanmar and Vietnam; at the same time, strengthen technical assistance in the field of issuing and vaulting, specifically training on detecting genuine/counterfeit money and most-traded foreign currencies; information and communication on guiding the public in identifying genuine money and regulations on counterfeit money prevention; measures of preventing from transporting counterfeit money via border…
Concerning with border payment, the two Governors agreed that the two central banks should well prepare for relevant substances in order to formulate a unified plan in line with legal framework, demand and expectation of the two sides. Governor Le Minh Hung requested the NBC would facilitate Vietnamese commercial banks operating in Cambodia to extend their operations in the locations of having border payment services. On this occasion, SBV Governor Le Minh Hung and NBC Governor Chea Chanto signed Memorandum of Understanding.
Speaking to close the meeting, the two Governors expressed their belief that discussed substances would be of great importance for the implementation of functional operations of the two central banks and contribute to enhancing the traditionally bilateral cooperation between the SBV and the NBC. In addition, the two Governors hoped that the SBV and the NBC as well as their entities continued to strengthen coordination to implement effectively set substances.
On the same day, the two Governors had a meeting with Vietnamese commercial banks operating in Cambodia (including BIDV, Agribank, Vietinbank, Vietcombank, MB, SHB, Sacombank…).
At the meeting, commercial banks briefed their operational situations and made recommendations. The NBC Governor asserted to facilitate Vietnamese commercial banks to operate effectively in Cambodia. He also highly appreciated operations of Vietnamese commercial banks operating in Cambodia, which have contributed to socio-economic development in Cambodia. He said that NBC encouraged Vietnamese commercial banks to enhance their operations in various fields, especially credit activities in order to further develop as financial intermediaries, thereby contributing to boosting socio-economic development.
Le Hang