Dec 26, 2020 / 16:36

Vietnam, Japan in favourable conditions to further investment, trade relations: Amb.

The Hanoitimes - The Japanese Ambassador lauded the comprehensive and strategic partnership between Vietnam’s state-run Vietinbank and Japan-based MUFG Bank over the years, which has served as a bridge for two business communities to boost trade and investment cooperation.

Improved investment environment, friendly policies and effective containment of the Covid-19 pandemic are favourable conditions for Vietnam and Japan to further their bilateral trade and investment cooperation in the coming time.

 Overview of the meeting. 

Japan’s Ambassador to Vietnam Yamada Takio made the remarks at a meeting with Chairman of VietinBank’s Board of Directors Le Duc Tho on December 25.

The meeting is set to contribute to Vietnam-Japan relations, especially in the field of finance- banking, noted Mr. Takio.

 Delegates at the meeting. 

“The Regional Comprehensive Economic Partnership (RCEP) with ASEAN, China, Japan, South Korea, Australia and New Zealand as its members will boost trading activities between all parties involved, including Vietnam and Japan,” he added.

Mr. Takio lauded the comprehensive and strategic partnership between Vietnam’s state-run Vietinbank and Japan-based MUFG Bank over the years, which has served as a bridge for the two business communities to boost trade and investment cooperation.

With significant results achieved in investment, trade and economic cooperation between Vietnam and Japan, the Ambassador expected the partnership between Vietinbank and its Japanese peers will continue to go strong in the future.

As of present, the State Bank of Vietnam (SBV), the country’s central bank, is the largest shareholder of Vietinbank with a 64.46% stake, followed by Japan’s largest bank MUFG with over 19.7%. The IFC remains a major shareholder of Vietinbank with 3.35% stake.

Vietinbank’s Chairman of Board of Directors Le Duc Tho said the bank is committed to supporting Japanese companies investing and expanding their operations in Vietnam.

“The long-standing partnership between Vietinbank and MUFG Bank is the strong foundation to help enhance the Vietnam – Japan trade, economic and investment cooperation,” Mr. Tho suggested.

Both Vietinbank and MUFG Bank are giving priorities to support Japanese companies having M&A activities in Vietnam, as well as projects related to infrastructure development.