Vietnam Standard Chartered’s priority destination

Standard Chartered Bank has identified Vietnam as one of priority destinations among emerging economies thanks to its development potential and open-door policy.

Jose Vinals, group chairman of the bank, made the statement at a dialogue with Vietnamese Minister of Trade and Industry Nguyen Hong Dien within the framework of Prime Minister Pham Minh Chinh’s trip for COP26 held in Glasgow, Scotland, recently.

Representative image.

Minister Dien affirmed that his ministry will devise necessary institutions to enhance internal strength of the economy and raise the competitiveness of Vietnamese enterprises. These institutions will help businesses take advantage of free trade agreements (FTAs) in export activities and meet needs of the domestic market.

Besides, the ministry will accelerate digital transformation in all production fields and trade, and pursue a sustainable development model. Vietnam's industrial policy orientation includes cleaner, greener production; use of energy in a more economical and efficient manner; and development of basic and supporting industries based on achievements of the fourth Industrial Revolution.

Minister Dien encouraged investors to build projects in line with Vietnam’s above-said industrial development strategy.

Vinals highlighted Standard Chartered’s investment ability to promote technology transfer and contribute economic benefits to Vietnam.

According to him, there is an opportunity for Vietnam to become one of the world's important factories, and the country can participate intensively in the global value chain.

He expressed his belief that his bank's investment strategy is compatible with Vietnam's priority development areas.

Standard Chartered is one of the first five international banks to be present in Vietnam, officially operating in the country in 2009.

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Source: NDO/VNA