A Vietnamese bank-SACOMBANK, has decided to invest more than US$ 13 million in setting up its branch in Vientiane after opening branches in Cambodia and China. A ground-breaking ceremony for the new branch took place last Thursday. The branch will be built on over 9.000 sqm in Haisok village, Chanthaboury district, Vientiane Capital. Present at the ceremony were Vientiane Mayor, Mr. Sombath Yialiheu; Sacombank Executive Board, Nguyen Thi Thu Ha; Minister of the Planning and Investment, Dr. Sinlavong Khouthphaythoune, and representatives of relevant sectors. The Vientiane branch, a four-storey building, will be built by a local company in two years. The branch will offer a full range of commercial and banking services, mainly for Lao and Vietnamese business people, including the release of loans for small-and medium sized enterprises (SMEs) and corporate companies, money deposit and various forms of money transactions.
Source: KPL – Lao News Agency
