Kuala Lumpur (25 May 2016) – Export–Import Bank of Malaysia Berhad (EXIM Bank) today signed a Memorandum of Understanding (MoU) with the Joint Development Bank (JDB) of Lao P.D.R aimed at strengthening the cooperation of financing, guaranteeing and other financial mechanisms to support the capacity of both organizations. The signing was represented by Mrs. Norzilah Mohammed, President/ CEO of EXIM Bank and Mr. Sounthorn Chanthavong, Director General of JDB. The memorandum was witnessed by Mr. Shahmir Bin Nor Shahid, Senior Vice President II – Banking Department of EXIM Bank and Mr. Sakhone Yorphanxay, Credit Loan Manager of JDB.
The memorandum summarizes the collaboration arrangements relating to common objectives in promoting mutual business relations between Malaysia and Lao P.D.R to uphold the trade and investment opportunities supporting both Lao and Malaysian Companies in their globalization / internationalization efforts. This collaboration between two countries is seen to be a good platform to intensify efforts and build up a high competitive environment with strong business integrity in order to penetrate the global market.
Speaking on the occasion, Norzilah Mohammed, President/Chief Executive Officer of EXIM Bank said that “EXIM Bank is mandated to assist Malaysians business venturing abroad by providing its financing and advisory services. Hence, this collaboration will be another important initiative for businessmen to explore funding support and setting up operations in Malaysia and Malaysian Companies setting up operations in Lao”, added Norzilah Mohammed.