Deputy PM lauds contributions of Japan’s financial, credit organisations
Deputy Prime Minister Pham Binh Minh on April 28 hosted a reception for Masahiro Yoshimura, General Manager of Business Development Department at Japan’s Sumitomo Mitsui Financial Group (SMFG), who is also in charge of managing Sumitomo Mitsui Banking Corporation (SMBC).
Deputy Prime Minister Pham Binh Minh (R) receives Masahiro Yoshimura, General Manager of Business Development Department at Japan’s Sumitomo Mitsui Financial Group (Photo: VNA)
Hanoi (VNA) – Deputy Prime Minister PhamBinh Minh on April 28 hosted a reception for Masahiro Yoshimura, General Manager of BusinessDevelopment Department at Japan’s Sumitomo Mitsui FinancialGroup (SMFG), who is also in charge of managing Sumitomo Mitsui BankingCorporation (SMBC).
At the meeting, Minh said the Vietnam-Japan relationshipis developing fruitfully across spheres, and Japan is now Vietnam’s largest ODAsupplier with about 27 billion USD.
Japan is also Vietnam’s second foreign investor withaccumulated investment amounting to 60.3 billion USD, making up 15.7 percentof total foreign investment in the country.
Japan is the fourth largest trade partner ofVietnam, with bilateral trade reaching 60 billion USD last year, theofficial added.
Minh attributed the achievements to contributions interms of both finance and operational experience of Japanese financial andcredit organisations over the past time, including SMFG.
An overview of the meeting (Photo: VNA)
The Vietnamese government appreciates the role of SMBCthat has operated in Vietnam over the past nearly two decades, providing financialand banking services, as well as support for many major energy andinfrastructure projects in the country with combined funding of about 20billion USD.
Minh expressed his hope that SMFG and SMBC inparticular will develop further and expand its investment and business inVietnam, while continuing to work as a bridge for Japanese firms in theSoutheast Asian nation.
The Vietnamese government also encourages theparticipation of credit organisations with financial potential, experience andcapacity to help local credit organisations, the Deputy PM said, adding that he welcomed SMBC’s investment in FE Credit – aconsumer finance division of VPBank, and noted his belief that the cooperationwill be a success.
For his part, Yoshimura pledged that SMFG willcontinue to prioritise its efforts and resources to business development inVietnam, saying he believes that the group will contribute to the growth of relations betweenthe two countries.
He said SMBC’s investment in FE Credit is the biggestforeign invested project in the banking sector in Vietnam, which hasdemonstrated SMFG’s commitments to contributing to the country’s development aswell as the bilateral ties for a long run.
Currently, Japan ranks third in terms of its presencein Vietnam’s banking sector, with six branches, two financial companies and 10 representative offices./.
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Deputy Prime Minister Pham Binh Minh (R) receives Masahiro Yoshimura, General Manager of Business Development Department at Japan’s Sumitomo Mitsui Financial Group (Photo: VNA) 
An overview of the meeting (Photo: VNA) 
