Vietnam to welcome wave of investment from Japan

Ho Chi Minh City’s Development Joint Stock Bank (HDBank) and Japan’s Hyakugo Bank have launched the Japan Desk service targeting Japanese firms operating in Vietnam as an effort to welcome the wave of investment from the Northeast Asian nation.
Ho Chi Minh City’s Development Joint Stock Bank (HDBank) and Japan’sHyakugo Bank have launched the Japan Desk service targeting Japanesefirms operating in Vietnam as an effort to welcome the wave ofinvestment from the Northeast Asian nation.

At the advisory“Japan Desk”, in the HDBank Trading Centre in HCM City’s District 1,Japanese investors will be given necessary banking service priorities,such as account services, liquidity management, loan arrangement,project investment, import-export funding, e-banking, and financial andinvestment advice.

The launch of the “Japan Desk” at HDBank willhelp intensify support for Japanese firms investing and operating inVietnam, and improve Vietnam’s investment climate, making it a moresecure environment for Japanese enterprises, President of Hyakugo BankLtd Ueda Tsuyoshi said.

He said he believed that the newlyintroduced service would help Japanese businesses access the bestfinancial and banking services from a reputable bank like HDBank, addingmore and more Japanese investors would come to Vietnam in the nearfuture.

Hyakugo Bank is specialised in providing financialservices and has extensive experience in and understanding of Japaneseenterprises’ culture, while HDBank is a strong and reputable bank with anational network. The cooperation between the two banks is thereforeideally suited to meet the demand of Japanese clients, he affirmed.

Inthe opening ceremony of the “Japan Desk”, Deputy Consulate General ofJapan in Ho Chi Minh City Yakabe Yoshinori said in the Japanesegovernment’s new growth strategy, the country will continue policies toboost overseas Japanese investment, affirming the cooperation betweenHyakugo and HDBank is part of the growth strategy.

With effortsto improve the investment climate in recent years, Vietnam has become anattractive destination for foreign investors, especially from Japan.

Atpresent, Japan is one of the biggest foreign investors in Vietnam. Over2,200 Japanese enterprises have invested 35 billion USD in numerousprojects. The amount of investments has been growing, with Japancompanies’ investment moving from China and Thailand to the ASEANregion, including Vietnam.

HDBank Chairwoman Le Thi Bang Tamstated that the wave of Japanese investments in Vietnam providesdomestic organisations the opportunity to improve the quality of goodsand services in an effort to meet the demands of Japanese partners.

In early 2014, HDBank signed a bilateral cooperation agreement with Hyakugo to catch the chance.

HDBankholds assets of close to 90 trillion VND (4.3 billion USD) and achartered capital of 8.1 trillion VND (380 million USD). It is amongstthe top ten banks in Vietnam, with an expansive network, high rates ofannual growth, an organisational structure in line with internationalstandards and a carefully established presence in the global financialmarket.

HDBank set up ties with over 300 banks in more than 150countries and territories, and is preparing to open it first branch inMyanmar.

In recent years, HDBank restructured its operations bymerging with DaiABank, acquiring the Societe General Viet France (SGVF),and rebranding the corporation as HDFinance.

Hyakugo Bank enjoysa sound reputation and long-standing tradition in Japan, with totalassets of approximately 47 billion USD, and is expanding into the globalmarket.-VNA

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