Vietcombank Boosts Cooperation with Japanese Companies

VJES 2013 is one of the important events in commemoration of the 40th founding anniversary of Vietnam - Japan relations. Over the past 40 years, Japan has always been one of the most important partners of Vietnam.

 

As a leading foreign trade bank in Vietnam, Vietcombank set up relations with Japan. Vietcombank now plays an important role in collaborating with Japanese partners such as JBIC and JICA to support contractors and businesses to ensure the progress of projects. ODA capital disbursed via Vietcombank has contributed to right- scheduled implementation of many key national projects, specially infrastructure construction projects like Thanh Tri Bridge, Can Tho Bridge, Cai Lan Port, Tien Sa Port in Danang City, National Road 5 from Hanoi to Haiphong, National Road 3 from Hanoi to Thai Nguyen as well as to ongoing projects like Nhat Tan Bridge, Lach Huyen Port, T2 Terminal in Noi Bai International Airport.

 

For that reason, Vietcombank’s participation to this VJES not only lied in Vietcombank’s business plans but also expressed our trust in Vietnam - Japan strong relationship. We also wanted to thank the Government, agencies and companies of Japan for their accompanying Vietnam’s economy and Vietcombank’s development.

 

As an experienced bank at the service of ODA projects, Vietcombank will continue to actively coordinate with Japanese partners to accelerate this process and promote infrastructure and key projects in Vietnam. We have established a specialised department in charge of this field and paid special attention to developing relations with Japan. Vietcombank advocates expanding ties with Japanese businesses and we have set up the Japan Desk at Vietcombank, which attaches priority to the development of supporting industries. Japan Desk’s major functions and duties are to provide the following services: (i) non-financial consulting, including information on investment and business climate in Vietnam, introducing potential partners to Japanese companies when they invest in Vietnam and introducing experts at the request of Japanese companies, and (ii) financial consulting, including banking products and services fitting the needs of Japanese companies, supplying specialised financial solutions packages specifically for Japanese customers. During thematic discussions within the framework of the forum, Vietcombank’s representatives will deliberate these intentions.

 

Our strategic partner is Mizuho Bank. The two sides have come to agreement on technical cooperation and support and worked out customer development plans, specially Japanese and Vietnamese corporate customers. With the existing advantages of the two banks, Vietcombank and Mizuho will continue to realise our plans with the results that you will see in the near future.

 

Affected by global economic crisis in 2008 - 2009, Vietnam's economy has encountered numerous difficulties in recent years and left negative effects on operations of Vietnamese enterprises as well as the banking system.

 

In 2013, to achieve the objectives set by the Government: macroeconomic stability and inflation control coupled with promoting economic recovery and maintaining reasonable growth, the State Bank of Vietnam (SBV) has introduced many solutions to support the economy. These policies and measures have been seriously carried out by commercial banks in the country and, to this point, produced positive signs.

 

The liquidity of the banking system is stable, deposits and credits expand positively, and declining interest rates are creating opportunities for businesses and residents to access bank loans. Banks also put a premium on settling nonperforming loans. Besides, the deployment of credit institution restructuring scheme promises to make banks healthier and more qualified in the future.

 

The overall objectives of our strategy are to build Vietcombank into a powerful banking and financial group with a worldwide operating presence and a leading position in Vietnam; to bring best services to our customers, and to harmonise interests of customers, shareholders and employees.

 

Vietcombank's vision to 2020 is to strive to become a leading bank in Vietnam, an influential entity in the region and a Top 300 bank in the world by 2020.

 

Currently, Vietcombank is the first and only bank in Vietnam to be listed in the Top 500 Banks in the world by The Banker Magazine in July 2013.

 

To implement its strategy, Vietcombank divided its development strategy into two phases. The first phase (2011-2015) will focus on maintaining and developing a holding business entity model and the second phase (2016 - 2020) will complete conditions to become a leading financial and banking group. Accordingly, Vietcombank will continue to affirm its position in core business of commercial banking; regard business safety and effectiveness as prime objectives on the way to become a green, sustainable bank for community; develop modern technology platform with high-quality human resources and internationally standardised governance; and develop and expand operating scales by mergers and acquisitions.

 

In business orientation, we continue to maintain and expand domestic market and spread to international markets. The core business of commercial banking is promoted by expanding wholesaling and retailing. Vietcombank also holds the leading position in card, e-commerce, trade financing, capital business and wholesale banking, and gradually develops investment banking array in a professional way.

 

We are confident that, with right-directed strategy and vision, the development of Vietcombank will contribute positively to Vietnam’s economic development and further promote Vietnam - Japan good relations.