BOI Managing Director Melwyn Rego at the opening of the bank's HCM City branch on July 22 (Photo: VNA)
HCM City (VNA) – The Bank of India (BOI) opened its 61 st overseas branch in Ho Chi Minh City on July 22, becoming the first Indian bank to operate in V🌳ietnam.
The BOI’s new branch, located at No 37 Ton Duc Thang street in District 1, is expected to provide services for Vietnamese and Indian importers and exporters, thus fostering bilateral trade.
BOI Managing Director Melwyn Rego said the bank, established in 1906, is one of the biggest banks in India with a global investment of 133 billion USD.
It has 5,016 branches across India and 58 in over 20 other countries and world financial hubs such as Tokyo, Singapore, London, Paris and New York.
The same day, Japan’s Bank of Fukuoka, Ltd unveiled its representative office at No 29 Le Duan street in HCM City’s District 1.
The office will conduct market surveys and investment promotion. It is also tasked with supervising the implementation of agreements between the bank and Vietnam’s credit institutions and businesses, along with projects funded by the Bank of Fukuoka, Ltd in Vietnam.
Vice Chairman of the HCM City People’s Committee Tran Vinh Tuyen said the municipal administration pledges favourable conditions for foreign enterprises’ operations. The growing presence of foreign financial institutions and banks will open up more opportunities for domestic and foreign firms’ partnership, which will help fuel local sustainable socio-economic growth.-VNA
The number of banks from ASEAN countries is expected to increase in Vietnam in the coming years as the domestic banking market opens following the carrying out of regional integration commitments.
The Australia and New Zealand Banking Group Limited (ANZ) has recently honoured as the best trade finance provider in Vietnam, presented by the US-based Global Finance magazine.
Year 2015 was an important milestone in Vietnam’s international economic integration with two significant events: establishment of ASEAN Economic Community (AEC) and wrapping up of TPP negotiations.
The Bank for Investment and Development of Vietnam (BIDV) has been granted a licence by the Central Bank of Myanmar (CBM) to open a branch in Yangon city.
Business performance at commercial banks is forecast to continue its upwards trend this quarter after making some improvements in the first half of the year, a State Bank of Vietnam (SBV) survey said.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
BOI Managing Director Melwyn Rego at the opening of the bank's HCM City branch on July 22 (Photo: VNA)
