The Bank for Investment and Development of Vietnam (BIDV) has signed aMemorandum of Understanding (MoU) with Japan’s Hiroshima Shinkin bankto support Japanese businesses operating in Vietnam.
Under the deal, the local bank will be Hiroshima Shinkin’s first partnerin Vietnam and is expected to provide banking products and servicesto small- and medium-sized enterprises that are customers of theJapanese bank.
They include payment accounts, credit, wagepayments, consultancy on the trade and investment environment inVietnam, taxation, and recruitment.
The foreign bank plansto organise a business mission to visit Vietnam in March next yearto explore investment opportunities.
Hiroshima Shinkin wasestablished in 1945 to provide services such as corporate finance,foreign exchange and individual savings accounts for small andmedium-sized enterprises and workers in Hiroshima city, Chugoku regionand western Honshu Island.
The bank was graded A/Stable long term issuer rating by Japan Credit Rating Agency Limited (JCR) in June 2014.-VNA