Sacombank opens wholly-owned subsidiary in Laos

The Sai Gon Thuong Tin Bank (Sacombank) said on August 3 that it had officially opened its wholly-owned subsidiary bank headquartered in Vientiane.

Tuesday, August 04, 2015 19:15

The Sai Gon Thuong Tin Bank (Sacombank) said on August 3 that it had officially opened its wholly-owned subsidiary bank headquartered in the Lao capital city of Vientiane.

The new bank, Sai Gon Thuong Tin Bank Lao Ltd. (Sacombank Lao) had previously operated as a branch of Sacombank in Laos before being approved by the Bank of Laos and the State Bank of Vietnam to transform into the current entity owning 100 percent of its capital, reported the Saigon Giai phong newspaper.

Sacombank Lao, set up under Lao regulations, has its own legal status and a charter capital of 39 million USD.

Sacombank is among Vietnam's first banks to do business in Laos. In addition to the new bank, it is running two branches in the country.

It has also a wholly-owned subsidiary bank and seven branches in Cambodia.

Sacombank now has 417 transaction offices operating in 48 out of 63 provinces in Vietnam.-VNA

#Sacombank #Laos Laos

See more

Vietnam’s GDP growth is projected to reach 7.5% under normal conditions and up to 8% in an optimistic scenario for 2025. (Illustrative photo: VNA)

Vietnam’s GDP growth could reach 8% in 2025 amid challenges: BIDV experts

18/01/2025 12:30

Vietnam’s GDP growth is projected to reach 7.5% under normal conditions and up to 8% in an optimistic scenario for 2025, according to a research group at the Bank for Investment and Development of Vietnam (BIDV).

☕ Afternoon briefing on January 17

17/01/2025 17:00

The following is a brief review of the day’s events as reported by the Vietnam News Agency.

A regional financial centre will be set up in Da Nang city. (Photo: VNA)

Vietnam to become competitive player in global financial market: Minister

17/01/2025 16:03

Vietnam, an emerging financial centre, is seizing a “golden opportunity” to become a competitive player in the international financial arena with progressive legal frameworks and standout initiatives, according to Minister of Planning and Investment Nguyen Chi Dung.

At the second economic consultation meeting held in Warsaw (Photo: Ministry of Industry and Trade)

Vietnam, Poland discuss major measures to beef up economic ties

17/01/2025 14:35

Vietnam and Poland discussed and agreed on major measures to beef up trade and economic partnership at the second economic consultation meeting held in Warsaw as part of Prime Minister Pham Minh Chinh’s ongoing official visit to the European country.

Textile and garment production for export (Photo: VNA)

Swiss broadcaster spotlights Vietnam's economic achievements

17/01/2025 14:34

Swiss broadcaster SRF has highlighted Vietnam's remarkable economic achievements, saying the country is emerging as one of the world’s fastest-growing economies.

Permanent Deputy Prime Minister Nguyen Hoa Binh speaks at the workshop. (Photo: VNA)

Deputy PM outlines five key tasks to form international financial centres

17/01/2025 11:19

Permanent Deputy Prime Minister Nguyen Hoa Binh has demanded ministries, sectors, and localities to concentrate on five key tasks to make it easier for developing international financial centres in Vietnam.

Deputy Prime Minister Tran Hong Ha addresses the event (Photo: VNA)

Hai Phong Southern Coastal Economic Zone established

17/01/2025 10:53

The Southern Coastal Economic Zone of Hai Phong has officially come into being, expected to broaden the development space and growth momentum for the northern port city.

Vietnam secures a place among the world's top 15 developing nations in terms of FDI attraction. (Photo: thoibaotaichinhvietnam.vn)

Vietnam – rising star for foreign investment in Southeast Asia

17/01/2025 10:29

Vietnam has cemented its position as an attractive destination for foreign businesses looking to expand their operations in Southeast Asia, driven by robust growth and expanding infrastructure.

Passengers at Tan Son Nhat International Airport (Photo: VNA)

Tan Son Nhat airport anticipates record passenger traffic during Tet

17/01/2025 10:08

Tan Son Nhat International Airport in Ho Chi Minh City is gearing up for an unprecedented surge in both flights and passengers during the 2025 Lunar New Year (Tet) holiday.

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,341 VND/USD on January 17 (Photo: VNA)

Reference exchange rate up on January 17

17/01/2025 09:10

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 24,341 VND/USD on January 17, up 8 VND from the previous day.

People shop at a Go! supermarket (Photo: VNA)

Ministry moves to boost domestic consumption during Tet holiday

17/01/2025 08:53

The Ministry of Industry and Trade (MoIT) has issued a directive, urging agencies to stimulate consumer demand and promote domestic goods during the Tet (Lunar New Year) holiday and the first quarter of the year.

Executive President of the China - ASEAN Business Council (CABC) Xu Ningning. (Photo: VNA)

Broader space for Vietnam - China cooperation: Chinese expert

16/01/2025 19:47

By working together on new challenges and business opportunities, the prospects for cooperation between China and Vietnam will be even broader, and there will certainly be more space for development, said Executive President of the China - ASEAN Business Council (CABC) Xu Ningning.

Remittances to Ho Chi Minh City in 2024 top 9.5 billion USD, up 0.9% year-on-year, according to the State Bank of Vietnam's branch in the city (Photo: VNA)

Remittances to HCM City surpasses 9.5 billion USD in 2024

16/01/2025 18:10

Remittances to Ho Chi Minh City in 2024 reached over 9.5 billion USD, up 0.9% year-on-year, the State Bank of Vietnam (SBV)'s branch in the city announced on January 16.

The retail prices of petrol increase on January 16 afternoon. (Photo: VNA)

Retail petrol prices up in latest adjustment

16/01/2025 17:09

The retail prices of petrol were revised upward on January 16 following the latest adjustment by the Ministries of Industry and Trade, and Finance.

Vietnam, Algeria forge stronger economic bonds

16/01/2025 11:32

The Vietnam Trade Office in Algeria held a meeting with representatives from several Algerian trade promotion organisations and businesses on January 15 to look back on bilateral trade and chart a course for future collaborations.

Swiss-Viet Economic Forum members (Photo: VNA)

Swiss-Viet Economic Forum helps boost bilateral collaboration

16/01/2025 11:27

The Swiss-Viet Economic Forum (SVEF) set goals for 2025, focusing on continuing to serve as a bridge to strengthen economic and cultural relations between the two countries at an event on January 15 to celebrate the first anniversary of its establishment.

Workers at a Taiwanese company in An Duong industrial part, Hai Phong city. (Photo: VNA)

Hai Phong, Quang Ninh attract 7.82 billion USD in FDI in 2024

16/01/2025 11:20

With 7.82 billion USD in foreign direct investment lured in 2024, the port city of Hai Phong and the northeastern province of Quang Ninh continued affirming their strong attraction as the two pillars of the northern economic triangle, that includes Hanoi.