Thursday, December 12 2019

VietNamNews

PM pledges optimal conditions for Japanese MUFG Bank in VN

Update: February, 22/2019 - 22:40
Prime Minister Nguyễn Xuân Phúc (r) receives Kanetsugu Mike, President and CEO of the largest Japanese bank in Hà Nội on Friday.— VNA/VNS Photo Thống Nhất

HÀ NỘI — The Vietnamese Government is committed to creating the best conditions for foreign firms, including MUFG Bank, to operate in Việt Nam, said Prime Minister Nguyễn Xuân Phúc at a meeting with Kanetsugu Mike, President and CEO of the largest Japanese bank in Hà Nội on Friday.

The PM congratulated MUFG Bank on its success in Việt Nam as a key partner and strategic shareholder of the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank).

He highlighted the development of the Việt Nam-Japan strategic partnership in various fields, including finance and banking.

Mike said that since MUFG Bank entered Việt Nam in 1996, it has received support from local governments, ministries and sectors.

According to him, many Japanese firms have chosen to invest in Việt Nam over the past five years, and the number of MUFG Bank’s Japanese customers investing in Việt Nam has surged.

Additionally, Vietinbank has met the Basel II international standards, making important contributions to Vietnamese economic development.

As a strategic shareholder of Vietinbank, MUFG is willing to help Vietinbank increase its charter capital to facilitate business efficiency, he said, expressing his hope that the Vietnamese Government would support the move.

He also called for the Government to assist other Vietnamese commercial banks in raising charter capital, which he said would contribute to the growth of Việt Nam.

Lauding the suggestions of the MUFG Bank leader, the Vietnamese PM said the Government supported all banks, including Vietinbank.

The Government has designed a strategy to push the banking sector into the top four in ASEAN.

Highlighting Việt Nam’s recent development achievements, PM Phúc hailed official development assistance from the Japanese government as well as investment from Japanese businesses.

However, the PM expressed his hope that Japanese firms would invest more in Việt Nam with larger projects, thus making Japan the top foreign investor in the country.

He called for MUFG Bank and the CEO to offer continued support to Vietinbank in enhancing its management capacity and service quality.

Mike pledged stronger collaboration with Vietinbank, expressing his belief that the Government and economy of Việt Nam will continue to develop strongly.

He said he hoped the Vietnamese Government would continue helping financial institutions and banks of Japan invest more in Việt Nam’s banking sector, while stressing the need for more investment promotion events. — VNS

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