Vietnam is expected to see a surge in foreign direct investment (FDI), thanks to various factors such as free trade agreements, the trade war between China and the United States on Vietnam, and stronger interest in merger and acquisition (M&A) transactions, reported Nguoi Lao Dong newspaper. An employee at a foreign-invested firm in Long Hau Industrial Park in the southern province of Long An – PHOTO: NLD Many financial experts considered the second summit between U.S. President Donald Trump and North Korean Chairman Kim Jong Un, held in the capital city of Hanoi on February 27-28, an opportunity for Vietnam to score points with potential investors. They noted this event was the next success in the country’s international integration efforts. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership came into effect early this year, and the European Union-Vietnam Free Trade Agreement is expected to be signed soon. These factors are likely to provide … [Read more...] about Foreign direct investment in Vietnam expected to surge
Hsbc bank vietnam ltd
Vietnam gov’t goes for globalization with CPTPP’s entry into force: HSBC CEO
The Hanoitimes - Although the increase will not be considerable for countries with which Vietnam has already signed bilateral or multilateral trade agreements, for Canada, the impacts will be positive. CPTPP comes into force in Vietnam CPTPP to boost Vietnam’s GDP up to over 2%: NCIF Vietnam firms urged to prioritize domestic market as CPTPP comes into force Vietnam expects high-quality FDI inflows after CPTPP ratification Vietnam jumps on CPTPP bandwagon The CPTPP’s entry into force proves that the Vietnamese government determines to opt for the open, liberal and rules-based trading system while the word awaits the outcome of the current trade truce between the US and China, according to Pham Hong Hai, CEO of HSBC Bank (Vietnam) Ltd. Pham Hong Hai, CEO of HSBC Bank (Vietnam) Ltd. The CPTPP, which stands for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, entered into force in Vietnam on January 14 after going live on … [Read more...] about Vietnam gov’t goes for globalization with CPTPP’s entry into force: HSBC CEO
Foreign capital continues to flow into banking sector
Woori Bank launched a ceremony to officially set up its wholly foreign-owned bank in Vietnam. (Source: Woori Bank) Hanoi, (VNA) – Success of foreign banks in Vietnam has been fueling the volume of capital poured into the sector, while these banks are changing their operations to grow. A foreign direct investment (FDI) wave emerged in the banking sector in 2006 – 2007 when Vietnam became a member of the World Trade Organization. It turned into a boom in 2009, as the country began to allow the establishment of fully-foreign-funded banks. Between then and now, Vietnam has so far recorded the operation of 50 foreign credit institutions, including nine wholly foreign owned banks and hundreds of foreign banks’ branches and representative offices. In 2016 and 2017 alone, four foreign banks were licensed to operate in the country. ANZ, Hong Leong, HSBC, ShinHan, Standard Chartered, CIMB, Public Bank Berhad, Woori Bank and United Overseas Bank Limited have all … [Read more...] about Foreign capital continues to flow into banking sector
Foreign banks expand operations in Vietnam
Customers at Shinhan Bank’s Hoan Kiem Branch in Hanoi (Source: VNA) Hanoi (VNS/VNA) - Foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector. Malaysian’s Public Bank Vietnam Ltd last week received the State Bank of Vietnam (SBV)’s approval to open three new branches and two new transaction offices in Hanoi, Ho Chi Minh City and Da Nang to raise its total network in Vietnam to 18 outlets. The SBV also allowed the Republic of Korea’s Woori Bank Vietnam Ltd to establish branches and a transition office. SBV Governor Le Minh Hung gave the bank the go-ahead to establish branches in the provinces of Thai Nguyen, Ha Nam, Hai Phong, Dong Nai and Binh Duong, and a transaction office in HCM City. In mid-May, another Korean Bank - Shinhan Bank Vietnam - also established four additional branches and transaction offices in Hanoi and HCM … [Read more...] about Foreign banks expand operations in Vietnam
Foreign banks enlarge operations in Viet Nam
Foreign banks in Viet Nam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector. Malaysian’s Public Bank Vietnam Ltd last week received the State Bank of Viet Nam (SBV)’s approval to open new three branches and two new transaction offices in Ha Noi, HCM City and Da Nang to raise its total network in Viet Nam to 18 outlets. The SBV also issued Document No 4660/NHNN-TTGSNH on June 21, 2018 to allow South Korea’s Woori Bank Vietnam Ltd to establish branches and a transition office. SBV Governor Le Minh Hung gave the bank the go-ahead to establish branches in the provinces of Thai Nguyen, Ha Nam, Hai Phong, Dong Nai and Binh Duong, and a transaction office in HCM City. In mid-May, another Korean Bank - Shinhan Bank Vietnam - also established four additional branches and transaction offices in Ha Noi and HCM City, raising its total to 30 nationwide. The expansion has … [Read more...] about Foreign banks enlarge operations in Viet Nam