Metfone, the Cambodian affiliate of the military-run telecom group Viettel, and the branch in Cambodia of the Military Bank (MB Cambodia), on March 26 signed an MoU on their five-year strategic cooperation.

Leading officials of Metfone, MB Cambodia sign MoU on five-year strategic cooperation
(Source: VNA)

Accordingly, during 2020-2025, MB Cambodia will meet credit demand of Metfone and provide it with all corporate financial services at a credit limit of US$100 million at competitive interest rates.

MB Cambodia will provide credit worth about US$15 million with preferential interest rates and conditions for Metfone’s partner businesses, subsidiaries and employees.

Meanwhile, Metfone will prioritize transferring its cash flows of revenue to a bank account opened at MB Cambodia and using financial services at the bank. Metfone will also prioritize sending money back to Vietnam via the MB Cambodia’s system, while providing telecommunication services to the bank with preferential prices and priority services.

After more than 10 years of operation in the Cambodian market, Metfone is considered as one of the leading telecom companies in the country, creating jobs for more than 12,000 workers, contributing more than US$500 million to the host country’s budget so far.

MB Cambodia has developed a distribution network of two branches and 120 agents throughout Cambodia.