Officials of the National Bank of Cambodia (NBC) and the State Bank of Vietnam (SBV) agreed on Monday during a conference in Phnom Penh that the two sides will enhance ties in the finance-banking and management sectors.
According to Vietnam Plus, NBC Governor Chea Chanto noted during the conference that the exchange of information and assistance between the two banks helped improve the overall banking system of Cambodia and he is hoping for more cooperation.
In last year's conference, the two banks agreed to exchange experiences regarding process automation, exchange rate matters, and research and development in the broader finance industry.
This year, the banks are looking to increase collaboration in personnel training to help reduce the risk of NBC going through the same endeavor when it experienced personnel shortage in 1979.
As part of the conference's agenda, Vietnam is expected to continue offering scholarships and training lessons to NBC staff members so they can study and explore the financial systems of Vietnamese markets.
SBV Governor Le Minh Hung pointed out that the cooperation between the central banks will improve growth factors and possibilities for Cambodia and Vietnam, especially at a crucial time in the global economy.
Aside from agreeing to step up cooperation in human resources under the finance sector, Chanto also mentioned during the conference several key targets that the Cambodian banking system wants to achieve through the help of strong ties with Vietnam.
According to the Khmer Times, Chanto said the number of transactions in Cambodia's financial markets continues to go up each year. He added that the Cambodian banking system aims to help reduce poverty and boost "financial inclusion."
Also this month, Vietnam and Cambodia decided to enhance educational and friendship ties with each other as Vietnamese sponsor families met with Cambodian students over the weekend.
Cambodian Ambassador to Vietnam, Op Sophy, noted that strong relations between the people of the two sides will help Cambodian students have a desire to preserve the long-standing ties that opened doors for many opportunities for both parties.
Around 68 students who study in Vietnam met with their sponsor families during the event hosted by the Vietnam-Cambodia Friendship Association. President of the association, Vu Mao, revealed that many families in the country registered to become sponsors for the students.
Official diplomatic relations were established between the countries in 1967. While ties were met with headwinds over the past years, both sides have found ways to meet halfway and set aside their differences for the sake of improving relations.
Cambodian Prime Minister Hun Sen has referred to Vietnam as an "old friend" of his country earlier this year, during the 40th anniversary of the ousting of the Khmer Rouge regime.
