Foreign Direct Investment (FDI) has played an important role in the development of Vietnam in many ways, such as promoting economic growth, improving the efficiency of domestic resources investment, technology transfer, international balance of payments, promoting export, and enhancing competitiveness at all three levels (nation, enterprises and products). And still, Vietnam has great potential to attract more FDI capital flows in the years to come thanks to its deeper international economic integration, plus the clear trend of shifting investment from China to other Asian countries with cheaper investment and labour cost. During more than 50 years of development, Vietcombank has contributed significantly to the stability and growth of Vietnam’s economy, upholding the role of a major foreign trade bank, and has always been the primary choice for FDI enterprises in Vietnam.
Amongst the oldest and most prestigious banks in Vietnam, keen on applying the best international standards and practices while ensuring safety and efficiency
Originated as a specialized bank for foreign trade, Vietcombank nowadays provides customers with a wide range of leading financial services in international trade; traditional services such as capital trading, capital mobilisation, credit, project financing, and modern banking segments such as foreign exchange trading and derivatives, card services, e-banking and so on.
After more than a half-century operating in the market, Vietcombank currently has almost 14,000 employees, more than 400 branches/ transaction offices/ representative office/ affiliates both in Vietnam and abroad, including Head Office in Hanoi, 1 Operation Centre, 1 Training Centre, 89 branches, over 350 transaction offices all over the country, 2 subsidiaries in Vietnam, 2 subsidiaries and 1 representative office in other countries, 6 joint ventures. In addition, Vietcombank has also developed an Autobank system with over 2,100 ATMs and more than 49,500 Points of Sale nationwide. Bank’s operations are supported by a network of more than 1,800 correspondent banks in 155 countries and territories.
With those prominent strengths, Vietcombank has received many awards from reputable organizations around the world on important areas: “Best bank in Vietnam” and “Best Foreign Exchange Bank in Vietnam 2013” by FinanceAsia Magazine, “Best Trade Finance Bank in Vietnam” (2008 – 2013) by Trade Finance magazine; “Best Cash Management Bank in Vietnam 2013”, “Best Counterparty Bank in Vietnam 2013” as well as “Strongest Bank Balance Sheet Recognition 2013” by The Asian Banker magazine. Vietcombank was also the only Vietnamese bank to appear in the upper half of The Banker magazine’s list of Top 1,000 World Banks 2013, the highest ranking ever achieved by any local Vietnamese bank. Vietcombank is also the first state-owned commercial banks to complete the privatization process with its successful IPO in 2007. September 2011 marked another milestone in Vietcombank’s history, with the finalization of the Strategic Partner Agreement with Mizuho Bank (Mizuho Financial Group is one of the three largest financial groups in Japan and one of the 20 leading financial groups worldwide).
Professional, continuous focused policy supporting FDI enterprises
With a history of more than 50 years as a major bank for foreign trade, Vietcombank has always had strong focus on approaching and supporting FDI enterprises.
Vietcombank is the first commercial bank to establish the FDI Department at Head Office and specialized FDI teams at branch level, who are responsible for direct relationship management with FDI customers with a focus on develop advanced, flexible and “tailor made” financial and banking solutions to meet the various needs of our FDI customers. Vietcombank also set up Japan Desk that provides banking products and services and also consultancy support for Japanese enterprises in Vietnam. Through the cooperation programme with the Japan Bank of International Cooperation (JBIC) and the bilateral relationship, Vietcombank has signed MOUs with 54 Japanese Regional Banks, under which Vietcombank will be the exclusive partner in Vietnam supporting Japanese enterprises who are customers of those Japanese Regional Banks. Vietcombank and our strategic partner Mizuho Bank have also implemented cooperation in various fields, including widening our Japanese customer base as well as fully supporting the needs of our large Japanese customers throughout the network.
In addition, Vietcombank has held many conferences/workshops for our FDI customers, attended several important business forums to capture FDI activities and actual needs FDI customers, so that we could share our experience in business and financial environment, develop new banking and financial solutions to better meet the diverse needs of FDI enterprises.
Full range of banking products and services to meet the diverse needs of FDI customers
Being recognized as a leading bank in terms of transparency and standards with prominent strengths in capital, credit, international payments, foreign currency, card, service quality and competent staff, Vietcombank has always been the primary choice of FDI enterprises in using banking and financial services. As Vietcombank is a major bank in foreign trade with extensive experience in supporting FDI customers, we know thoroughly by close contact with FDI customers so that we could overcome language and cultural differences to work together closely in a long term relationship. Vietcombank has extended tens of thousands of billion VND in loans to FDI customers to support their business activities, and develop solutions on account management, centralized capital management, international payments and foreign exchange, etc. to provide the best banking and financial solutions for our FDI customers.
On the basis of close relationships with our FDI customers, Vietcombank provides banking products and services with a best price and conditions, and strongly focus on research, develop ‘tailor-made' solutions to meet the diverse and ever-changing needs of our FDI customers. We also actively implement Services Cooperation Programs with FDI enterprises such as Instalment loan to individual customers buying goods and services from FDI enterprises, Loan to employees of FDI customers; issue co-brand credit cards, debit cards for frequent customers; and Consulting services on government rules and regulations.
Not only offering traditional products and services of a commercial bank, Vietcombank has also been providing financial solutions utilizing our overall strength as a diversified financial group in Vietnam with our affiliates (Vietcombank Securities Company, Vietcombank Fund Management Company, Vietcombank Leasing Company, Vietnam Finance Company in Hongkong, Vietcombank Money Inc. in the US, Vietcombank Representative Office in Singapore) and close relationships with our strategic partner Mizuho Bank and international financial institutions around the world.
Having set our orientation as "Enhancing quality towards international standards" in the long-term development strategy of Vietcombank to 2020, together with our strong brand name and financial capability, abundant foreign currency capital, reputation and experience in international payment and foreign exchange, Vietcombank is confident of continuing to be the primary choice of FDI enterprises in Vietnam, to support the FDI sector with the motto "Together for the future".
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