Vietnam willing to offer optimal conditions for foreign investors
VOV.VN - Vietnam is always ready to create favourable conditions for foreign businesses, including the United Overseas Bank (UOB), to expand their investment activities, National Assembly (NA) Chairman Tran Thanh Man said at a meeting on December 2 with Wee Ee Cheong, deputy chairman and chief executive officer of UOB – one of the world’s top banks, as part of his official visit to Singapore.
Hailing the bank's investment activities in the Vietnamese market since 1993, NA Chairman Man said that the country prioritizes the development of green finance, high technology, renewable energy, and green energy. Indeed, it always stands ready to create favourable conditions for foreign businesses, including UOB, to expand their investment activities in these sectors.
As the nation is researching the establishment of international financial centres in Ho Chi Minh City and Da Nang, it hopes to learn from the experiences of other countries, including Singapore, on this model.
Informing the UOB leader of the Vietnamese legislature’s approval of the amended Law on Credit Institutions and the amended Land Law, the top Vietnamese legislator affirmed that timely amendments and enactment of laws, especially those related to investment and business, aim to provide a favourable legal framework for both domestic and foreign investors in which to promote production and business activities in the nation.
He noted that with its strengths in aviation, seaports, and finance-banking, Singapore currently makes up the country’s fourth-largest trade partner in ASEAN and has more than 3,800 active investment projects totaling US$81 billion in the nation.
Cheong emphasized that Vietnam always represents one of the top markets where UOB seeks to establish long-term ties and investment relationships.
As the only Singaporean bank operating in the Vietnamese market, UOB aims to further increase its presence by opening a branch in Ho Chi Minh City, which is one of Vietnam's future international financial hubs. The goal is to continue providing financial services to foreign-invested businesses which have been, or will be, operating and doing business in the country, thereby contributing to generating more jobs for the local workforce.
He voiced his hope and expectations that the group will continue to receive support and facilitation from the Party, State, and especially the NA of Vietnam in promoting and expanding effective and successful investment and business activities in the country.
