VCCI, Citibank Strengthen Cooperation in Investment and Trade Promotion

7:10:36 AM | 5/2/2023

President of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong recently hosted a working meeting with Mr. Ramachandran A.S (RamC), Country Officer for Citibank in Vietnam. At the meeting, the two sides said that they will cooperate to connect and support foreign businesses to invest in Vietnam in the coming time.

VCCI President Pham Tan Cong (R) and Mr. Ramachandran A.S (RamC), Citi Country Officer for Citibank in Vietnam

Exchanging information on the prospect of Citibank-VCCI cooperation, Mr. RamC said that, in the short term, the Vietnamese economy may face certain challenges in real estate and bond markets or Vietnam's banking industry, and especially a decline in export as a result of global inflation. However, he highly appreciated the efforts of relevant State agencies to tackle and improve these issues.

While being very optimistic about Vietnam's economic prospects in the medium and long terms, Mr. RamC believed that Vietnam will experience little impact from the gloomy global economic picture as inflation in Vietnam's main export markets such as the US or the EU is falling, while getting another boost from China’s economic reopening in the wake of Zero Covid policy. These signals are good for export industries to regain their former growth momentum and for the economy to achieve steady development.

Regarding future cooperation with VCCI, he expected that Citibank will further help Vietnam's digital transformation, fintech and green energy, adding that Citibank is always ready to support businesses from many countries around the world, especially those from the US, to invest and do business in Vietnam.

At the meeting, VCCI President Pham Tan Cong thanked Citibank for its important contributions to improving Vietnam's economy, saying that VCCI, a representative of more than 200,000 Vietnamese businesses, will be an important driving force to accelerate Vietnam's digital transformation and further cultivate Vietnam-US relations.

He hoped that Citibank will continue to promote its advantages and potential to support Vietnamese businesses and contribute to Vietnam’s economic growth momentum.

Huong Ly (Vietnam Business Forum)