The Bank for Investment and Development of Vietnam (BIDV) has signed memoranda of understanding (MoU) with Japan ’s Minato Bank and the Bank of Yokohama with the aim of strengthening support for Japanese businesses investing in Vietnam.

As part of the MoUs, the Japanese banks will enable their customers to easily access information on the investment climate and regulations in Vietnam .

The banks will also coordinate with BIDV to provide diverse financial and banking services for Japanese customers, such as bank transfers, currency trading, loans, business networks, and support for mergers and acquisitions.

Earlier, BIDV set up Japan Desks in Hanoi and Ho Chi Minh City to enhance the provision of services to customers, including support in the Japanese language.

So far, BIDV cooperates with 17 Japanese financial institutions, including SuMi Trust Bank, Bank of Yokohama, Chiba Bank and Shinkin Central Bank.

Japan is currently the top FDI investor in Vietnam , with over 2,200 Japanese enterprises investing in the country with a total capital of more than 35 billion USD.-VNA