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Post by Ssmith on Sun Oct 28, 2018 8:27 am

TNT

Tishwash: Vietnamese banks have eye on foreign markets

Head office of Vietcombank Laos in Vientiane. – Photo vneconomy.vn

Viet Nam News

HÀ NỘI – Several Vietnamese banks were gearing up expansions to foreign markets to tap increasing overseas investment by Vietnamese businesses.

Most recently, the Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) opened its wholly-owned Vietcombank Laos in Vientiane early this week.

Six Vietnamese banks have established a presence in Laos, including Military Bank (MB), Vietcombank, Saigon-Hanoi Bank (SHB), Bank for Investment and Development of Việt Nam (BIDV), Vietnam Bank for Industry and Trade (Vietinbank) and Saigon Thương Tín Bank (Sacombank).

According to Phạm Mạnh Thắng, deputy director of Vietcombank, Vietcombank Laos will provide services for Vietnamese businesses looking to invest in Laos, those already operating in the country, as well as others.

Vietcombank also has offices and branches in Paris (France), Moscow (Russia) and Singapore, as well as the Vietnam Finance Company Limited (Vinafico) in Hong Kong. Vietcombank plans to open a branch in Australia and representative office in the US by the end of the year.

BIDV is also pioneering the expansion to foreign markets, with branches and offices in Cambodia, Myanmar, Laos, the Czech Republic, Taiwan and Russia.

Vietinbank has branches in Germany, one representative office in Myanmar and one wholly-owned bank in Laos.

Laos and Cambodia were two top markets for Vietnamese banks, due to significant overseas investment by Vietnamese firms.

Statistics from the Việt Nam Foreign Investment Agency under the Ministry of Planning and Investment showed that in the first eight months of this year, the finance and banking sector saw the highest overseas investment by Vietnamese firms with total registered capital of US$105.8 million, accounting for 33.7 per cent of the country’s total overseas investment.

Laos was the top destination for Việt Nam’s overseas investment, with registered capital of $95.2 million. Cambodia was also in the top three destinations for Việt Nam’s overseas investment.

Experts said with a number of free trade agreements (FTAs) signed such as the European Union – Việt Nam FTA and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Việt Nam’s overseas investment was anticipated to rise significantly, creating opportunities for Vietnamese banks.

Experts also said that besides Vietnamese firms, other companies were also potential customers for Vietnamese banks to increase shares in foreign markets.

Financial and banking expert Cấn Văn Lực said that Vietnamese banks had increased overseas investment for several reasons.

FTAs were opening significant opportunities for businesses investing abroad and this created demand for banks in foreign countries to provide banking services.

In addition, the formation of the ASEAN Economic Community created favourable conditions for Vietnamese banks to invest within the bloc.

Under the banking development strategy to 2025 with a vision to 2030 recently approved by the Prime Minister, Việt Nam aims to have at least 2-3 banks in Asia’s top 100 banks by assets and 3-5 banks listed on foreign exchanges. — VNS   link

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SassyD:   Why Competing Currencies is the Solution to a Collapsing Dollar – Octo​ber 16, 2018 — https://www.thedailybell.com/all-articles/news-analysis/why-competing-​currencies-is-the-solution-to-a-collapsing-dollar/

Humor While We Wait

Sabickford:  McDonalds needs a happy meal for Mom’s: A Bottle of Wine, Three Xanax, and A sleeve of thin Mints

Sometimes I just want someone to say,” I know it’s hard. It’s going to be okay. Here’s a coffee. And 5 Million Dollars.”

If I quit drinking, how will my friends know I love them at 2:00 AM?

Everyone should believe in something. I Believe I should be on the beach drinking margaritas.

So I was at the Bar last night and the waitress yelled “Anyone Know CPR?” and I said “Hell I know the whole alphabet.” Everyone laughed. Well everyone but this one guy.

Good Advice – NOT: Make jokes about your girlfriends weight. Girls love a man with a sense of humor.

Some people just lack the ability to laugh at themselves. That’s where I come in.

Whatever you do always give 100%….Unless you’re donating blood!

If a woman is upset, hold her and tell her how beautiful she is. If she starts to growl, back off to a safe distance and throw chocolate at her.

If Republicans Win, I’m leaving the country! If Democrats Win, I’m leaving the country! This has nothing to do with Politics. I just want to travel!

You’re riding a horse full speed and there’s a giraffe beside you, and you’re being chased by a Lion. What do you do? Get your drunk Butt off the carousel!

Next time a stranger talks to me when I’m alone I will look at them shocked and just whisper “You can See Me?”

OMG! A customer almost died in front of me today!!! Then I counted to 10 and put the scissors back in the drawer. She Never even knew!

Great the voices in my head learned Spanish…Now I don’t know what the hell they are saying!

I’ve got to stop saying ‘How Stupid can you be?” Too many people are taking it as a Challenge

I’m not so sure about an inner child, but I have an inner idiot that surfaces from now and then.

Note to my Brethren with pregnant women in their life: do not, Repeat , do NOT refer to their speed walk as a “Turbo Waddle”. I am not a smart man

A State trooper was asked on a Exam “What would you do if you had to arrest your mother?” In the Blank he put “Call for Backup!!!”

The fact that jellyfish have survived for 650 million years without a brain has given hope to many people.

Kids don’t know how easy they have it today. When I was Young I had to walk 9 Feet through Shag Carpet to Change the TV Channel.
Ssmith
Ssmith
GURU HUNTER
GURU HUNTER

Posts : 20038
Join date : 2012-04-10

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