Vietcombank Becomes 1st Partner of MPI’s Foreign Investment Agency
The Bank for Foreign Trade of Vietnam (Vietcombank) has become the first domestic partner of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment to provide banking services for foreign-invested firms.
A document to this effect was signed between Vietcombank and FIA on April 21, under which the two partners will share information, advertise products, promote foreign investment, consult and train staff.
The Hanoi-based bank will be allowed to introduce banking and financial services to foreign investors at conferences or meetings hosted by the agency internally and abroad.
For its part, FIA will promote and expand corporate customers for the partly-privatized bank.
Both their representatives have agreed to set up a close cooperative mechanism and jointly monitor the implementation of their agreements to improve the domestic investment environment and assist FDI businesses.
With the important role they play in the national economy, FDI businesses have contributed a huge amount of capital to socio-economic development for the past three years.
Apart from its 55 per cent of the total export value last year, FDI businesses also generated jobs for 37,000 workers in the 2006-2008 period, raising the number of workers in the sector to 1.4 million people.
Vietnam attracted US$6 billion FDI in the first quarter this year, down 40 per cent on year. (Vietnam Economic Times)
Vietnamese
