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 Vietnam.
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
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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.
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China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
BOI Managing Director Melwyn Rego at the opening of the bank's HCM City branch on July 22 (Photo: VNA)
