Phnom Penh (FN), Dec. 20 – Cambodian Prime Minister Hun Manet expressed his anticipation that as the country welcomes investors and experiences trade growth, local banks should enhance their capacity to seize investment opportunities.
The premier added that the facilitation of the banking sector is crucial for making investment and trade viable, speaking on Wednesday (Dec. 20) during an official inauguration of Wing Bank headquarters.
Premier Hun Manet underscored the dynamic movement in both the trade and investment sectors, reiterating the essential coordination from the banking sector. He highlighted the indispensable role of money in the functioning of the Cambodian economy. Furthermore, Samdech Thipadei expressed satisfaction with the growth of Wing Bank and other financial institutions in Cambodia.
“I hope that with the rising influx of investments and increasing trade activities, our banking sector will assume a more crucial role in facilitating these endeavours, necessitating heightened accountability from our banks,” said the premier.
While preparing for domestic payment standards is one aspect, supporting foreign trade guarantees represents another level of complexity. Nevertheless, Samdech Thipadei expressed optimism for greater opportunities to expand and fortify the banking and financial sector within our country.
On the occasion, Samdech Thipadei Hun Manet underlined the necessity for thorough preparation within the banking sector to address the aforementioned issues. The head of the Royal Government observed that while the banking sector's services for domestic payments may meet a high standard, elevating standards becomes imperative for cross-border payments and foreign trade. He reiterated that the facilitation of the banking sector is pivotal for making investment and trade viable.
At the same time, Prime Minister Hun Manet stated that with the surge in trade and investment, it can also be an opportunity for the banking and financial sector to strengthen and expand its services more effectively.
=FRESH NEWS
