DPA
Phnom Penh - Cambodia has welcomed an initial application by the Bank of India to open in Phnom Penh, local media reported Tuesday.
The Cambodia Daily newspaper quoted Finance Ministry director of investment Chan Sothy as saying the nationalized Indian bank, which has a presence in all the major trade centres of the world, applied to open in April.
The paper quoted Sothy as saying he and Finance Minister Keat Chhon met with outgoing Indian ambassador Aloke Sen Friday and 'welcomed the Bank of India to open a branch in Cambodia.'
The officials discussed various ways of increasing Indian investments in Cambodia, the report said. It quoted banking officials as saying the Bank of India application was still being processed and therefore no concrete date could be set.
The two nations have close historic ties and Cambodia has been keen to foster closer economic ties with India as investment from other powerhouse Asian economies such as China and South Korea continues to grow.
The Cambodia Daily newspaper quoted Finance Ministry director of investment Chan Sothy as saying the nationalized Indian bank, which has a presence in all the major trade centres of the world, applied to open in April.
The paper quoted Sothy as saying he and Finance Minister Keat Chhon met with outgoing Indian ambassador Aloke Sen Friday and 'welcomed the Bank of India to open a branch in Cambodia.'
The officials discussed various ways of increasing Indian investments in Cambodia, the report said. It quoted banking officials as saying the Bank of India application was still being processed and therefore no concrete date could be set.
The two nations have close historic ties and Cambodia has been keen to foster closer economic ties with India as investment from other powerhouse Asian economies such as China and South Korea continues to grow.
2 comments:
Investment is booming in Cambodia. Confidence on Cambodian govt has growing due to her credibility towards foreign businessmen...
We hope Cambodian people will enjoyed growing economic prosperity and could reduce social disparity from year on...
Khmer famers
welcome to cambodia, everybody. please come check out cambodia; we have changed a lot since the fall of the infamous KR regime that nearly destroyed cambodia. thank god, cambodia is saved and is now safe as well to visit, do business, and working and living there is safe and fun as well. so, please come see cambodia with your own eyes! god bless cambodia.
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