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.

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 and investment advice.

The launch of the “Japan Desk” at HDBank will help intensify support for Japanese firms investing and operating in Vietnam, and improve Vietnam’s investment climate, making it a more secure environment for Japanese enterprises, President of Hyakugo Bank Ltd Ueda Tsuyoshi said.

He said he believed that the newly introduced service would help Japanese businesses access the best financial and banking services from a reputable bank like HDBank, adding more and more Japanese investors would come to Vietnam in the near future.

Hyakugo Bank is specialised in providing financial services and has extensive experience in and understanding of Japanese enterprises’ culture, while HDBank is a strong and reputable bank with a national network. The cooperation between the two banks is therefore ideally suited to meet the demand of Japanese clients, he affirmed.

In the opening ceremony of the “Japan Desk”, Deputy Consulate General of Japan in Ho Chi Minh City Yakabe Yoshinori said in the Japanese government’s new growth strategy, the country will continue policies to boost overseas Japanese investment, affirming the cooperation between Hyakugo and HDBank is part of the growth strategy.

With efforts to improve the investment climate in recent years, Vietnam has become an attractive destination for foreign investors, especially from Japan.

At present, Japan is one of the biggest foreign investors in Vietnam. Over 2,200 Japanese enterprises have invested 35 billion USD in numerous projects. The amount of investments has been growing, with Japan companies’ investment moving from China and Thailand to the ASEAN region, including Vietnam.

HDBank Chairwoman Le Thi Bang Tam stated that the wave of Japanese investments in Vietnam provides domestic organisations the opportunity to improve the quality of goods and 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.

HDBank holds assets of close to 90 trillion VND (4.3 billion USD) and a chartered capital of 8.1 trillion VND (380 million USD). It is amongst the top ten banks in Vietnam, with an expansive network, high rates of annual growth, an organisational structure in line with international standards and a carefully established presence in the global financial market.

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

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

Hyakugo Bank enjoys a sound reputation and long-standing tradition in Japan, with total assets of approximately 47 billion USD, and is expanding into the global market.-VNA