Hanoi (VNA) – The Vietnamese Government is committedto creating the best conditions for foreign firms, including MUFG Bank, tooperate in Vietnam, stated Prime Minister Nguyen Xuan Phuc at a meeting withKanetsugu Mike, President and CEO of the Japanese largest bank in Hanoi onFebruary 22.

The PM congratulated MUFG Bank on its success in Vietnam asa key partner and strategic shareholder of the Vietnam Joint Stock CommercialBank for Industry and Trade (Vietinbank).

He highlighted the progress of the Vietnam-Japan strategicpartnership in various fields, including finance and banking.

Kanetsugu Mike said that since MUFG Bank entered Vietnam in1996, it has received support from local governments, ministries and sectors.

He noted that many Japanese firms have chosen to invest inVietnam as in the recent five years, the number of MUFG Bank’s Japanese customersinvesting in Vietnam has surged.

Additionally, Vietinbank has met the Basel II internationalstandards, making important contributions to Vietnamese economic development.

As a strategic shareholder of Vietinbank, MUFG is willing tohelp Vietinbank increase its charter capital to facilitate business efficiency,he said, expressing his hope for the Vietnamese Government’s support for themove.

He also called for the Government’s assistance to othercommercial banks of Vietnam to raise charter capital, which he said that willeffectively contribute to the growth of Vietnam.

Lauding the suggestions of the MUFG Bank leader, theVietnamese PM affirmed that the Government works hard to support all banks,including Vietinbank.

The government has designed a strategy to develop thebanking sector towards the top four in ASEAN.

Underlining development achievements Vietnam has made overthe years, PM Phuc hailed official development assistance from the Japanese governmentas well as the investment of Japanese businesses.

However, the PM showed his hope that Japanese firms will investmore in Vietnam with larger projects, thus making Japan the top foreigninvestor in the country.

He called for MUFG Bank and the CEO continued support toVietinbank to enhance its management capacity and service quality.

Kanetsugu Mike pledged stronger collaboration withVietinbank, expressing his belief that the Government and economy of Vietnam willcontinue to develop strongly.

He said that he hopes the Vietnamese Government willcontinue backing financial institutions and banks of Japan to invest more inVietnam’s banking sector, while stressing the need for more investmentpromotion events.-VNA