Viettel Cambodia – which operates as Metfone – has signed a credit package agreement with MB Cambodia to upgrade its domestic network.
Local outlet Khmer Times reports that MB Cambodia - a branch of Vietnam’s Military Commercial Joint Stock Bank – will provide Metfone with a credit package with a limit of up to US$100 million to enable both the network upgrade and the expansion of Metfone’s operations in Cambodia.
Both Vietnamese firms have achieved significant success in the Cambodian market over the past ten years, with Vietnam’s ambassador to Cambodia Nguyen Huy Tang noting that each has an established presence in several sectors of the Cambodian market, including telecoms, digital payments and wallets, as well as banking.
Bilateral trade between Vietnam and Cambodia has seen phenomenal growth in the past few years, reaching US$5 billion in 2020 and US$9.3 billion in 2021. Nguyen claimed that the agreement between Metfone and MB Cambodia would further economic cooperation between the two countries.