MB Cambodia and the Viettel (Cambodia) Pte., Ltd (Metfone), two Vietnamese-invested firms recently signed a special credit package contract for 2022 to upgrade the telecoms network in Cambodia.

Under this contract, MB Cambodia, a branch of Viet Nam’s Military Commercial Joint Stock Bank, will provide a credit package with a limit of up to US$100 million for Metfone, an affiliate of the Viettel Military Industry and Telecoms Group, to upgrade the telecom services network and expand operations in Cambodia.

Metfone and MB Cambodia are assessed as leading Vietnamese businesses in Cambodia over the past decade.

Vietnamese Ambassador to Cambodia Nguyen Huy Tang described the signing of the contract as an important event since both have gained a foothold in the telecommunications, e-payment, e-wallet, and financial - banking sectors in Cambodia.

He held that this partnership would help promote Vietnamese firms’ stature in Cambodia, thereby contributing to the two countries’ cooperation, especially in economy.

Bilateral trade has recorded impressive growth in recent years, hitting $5 billion in 2020 and $9.3 billion in 2021, statistics showed. — VNS