VOV.VN - Prime Minister Pham Minh Chinh, while receiving Mark Tucker, chairman of the Hong Kong Shanghai Banking Corporation (HSBC) Holding plc in Hanoi on August 2, hailed the bank’s commitment to operating in the long-term in Vietnam, contributing to the country’s socio-economic development.

The HSBC Vietnam will support Dat Bike Vietnam Co. in digitalising its financial operations and taking initial steps into the international financial market.

Agriculture has long been the backbone of Vietnam’s economy for a number of comparative advantages, such as cultivated land, forest cover, sea territories, tropical climate, and available and cost effective labour, according to Surajit Rakshit, head of Global Trade and Receivables Finance, HSBC Vietnam.

VOV.VN - Despite a number challenges hampering growth, the Vietnamese services sector remains a bright spot, partially offsetting some external weaknesses, according to “Vietnam’s May trade data” report recently released by HSBC.

After a sluggish GDP performance in the first quarter this year, Vietnam is still not out of the woods yet. In particular, it has not seen the light at the end of the tunnel on the trade front, according to an HSBC report.

VOV.VN - Foreign direct investments (FDI) has been one of the key catalysts spurring and transforming the nation into one of the most open economies in the region, said Joonsuk Park, head of International Subsidiary Banking and Wholesale Banking at HSBC Vietnam.

Despite near-term trade headwinds, tourism has emerged as a source of growth for Vietnam to mitigate the challenges ahead in 2023, according to the “Vietnam at a glance” report released by HSBC on February 6.

Foreign experts have dubbed the Vietnamese economy as a miracle in Asia and a bright spot of economic growth in Asia-Pacific as a result of the Vietnamese Government’s sound and effective economic management policies.

The local banking sector, currently undergoing drastic restructuring, will have more opportunities to improve its financial capacity, learn modern business models and management from UK partners after the UK-Vietnam Free Trade Agreement (UKVFTA) takes effect, according to banking insiders.

Representatives from foreign-invested businesses and business associations frankly pointed out shortcomings and obstacles, and proposed solutions to promote development in Vietnam at a hybrid meeting with Prime Minister Pham Minh Chinh on September 17.