Vietnam has is capturing interest of investors from other Asian territories, including Taiwan and Japan. Several Taiwanese investor visited Vietnam to learn about the investment opportunities. Meanwhile, the Bank for Investment and Development of Vietnam has signed a memorandum of understanding with Kyoto Bank to launch banking and investment consultancy services for Japanese companies in Vietnam.
More Taiwanese firms flock into Vietnam
An increasing number of Taiwanese companies have been keen on investing in the Vietnam’s fast-growing market,. This was disclosed in a recent meeting of 33 Taiwanese companies and their Vietnamese counterparts in the Ho Chi Minh City.
About 500-600 Taiwanese firms are already doing business in the city, most of which make products for export, according to John Tang, director of the Taiwan Trade Centre office in Ho Chi Minh City. In the future, these companies are expected to make products for both the Vietnamese and export markets.
In addition, a lot of retailers are also expected to enter Vietnam, as the country is considered as a really high growth market.
Tang added further that Taiwanese businesses planned to invest in a textile production chain in the Southeast Asian country in the coming time to benefit from the forthcoming Trans Pacific Partnership.
Meanwhile, the visiting Taiwanese companies, which operate in two major segments: daily commodities and industrial goods and equipment, hope that cooperation opportunities between Taiwanese and Vietnamese counterparts will materialise soon.
Kyoto Bank and BIDV agree on banking cooperation
Japan’s Kyoto Bank and the Bank for Investment and Development of Vietnam (BIDV) have inked a memorandum of understanding for offering banking services to Japanese businesses and investors in Vietnam, the bizhub.vn reported.
BIDV said in a statement that the two banks would boost cooperation in credit, domestic and international payments, foreign exchange operations, and many other areas.
The MoU also involves consulting on the investment environment in Vietnam and its financial and banking laws and regulations for foreign investors as well as matching businesses from the two countries.
Kyoto Bank, which has total assets of $68.59 billion, is the 20th Japanese lender with which BIDV has tied up.
BIDV also launched the BIDV Business Online – an online banking service- for the Japanese businesses.