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General Director of VietinBank to attend conference chaired by Prime Minister Nguyen Xuan Phuc

On 12/5/2017, PhD. Le Duc Tho – General Director of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) attended the round table discussion chaired by Prime Minister Nguyen Xuan Phuc. The discussion brought together Vietnamese and foreign investors under the World Economic Forum on ASEAN held in Phnom Penh, Cambodia. VietinBank was honorable to be one of the top 5 leading enterprises in Vietnam to participate in the forum.

Round table discussion chaired by Prime Minister Nguyen Xuan Phuc and the community of domestic & foreign investors and enterprises in Phnom Penh, Cambodia

“Young People, Technology and Growth” were the key themes of the World Economic Forum on ASEAN 2017. Vietnamese Prime Minister Nguyen Xuan Phuc and Ministers, Vice Ministers were open to discuss and exchange with Vietnamese and foreign enterprises, financial institutions including global leading investment funds such as First Eastern Investment Group, Eastspring Investments, Golden Gate Ventures & Bragiel Brothers... VietinBank delegation headed by Mr. Le Duc Tho was honorable to be one of top 5 leading enterprises in Vietnam to attend the conference.

During the discussion, Prime Minister Nguyen Xuan Phuc discussed and updated the Government’s action plans to develop Vietnamese economy such as accelerating the process of equitization, finalization of mechanism and policies to develop the economy including those to encourage private sector. The Prime Minister recommended foreign financial, investment and banking groups to further invest in Vietnamese economic industries such as: High technology agriculture, tourism, infrastructure, renewable energy which are crucial to Vietnamese economy. The Prime Minister demonstrated his strong interests in the start-ups community in Vietnam and were determined that Vietnamese banks such as VietinBank were on the spot to provide funding and banking services for start-up business. Representatives from investment funds expressed their opinions and were keen to look for investment in potential industries in Vietnam as recommended by the Prime Minister. 

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Mr. Le Duc Tho – General Director of VietinBank reported to Prime Minister Nguyen Xuan Phuc and discussed with Vietnamese & foreign enterprises and investors 

Mr. Le Duc Tho – General Director of VietinBank reported to the Prime Minister and discussed with investors on the process of equitization at VietinBank. After 10 years of equitization, especially since the participation of IFC and The Bank of Tokyo-Mitsubishi UFJ as strategic shareholders, VietinBank has made remarkable achievements in business growth and efficiency, contributing valuable benefits to the economy, shareholders and investors; always maintains its position as one of the largest Vietnamese commercial banks in terms of equity and total assets as well as operating efficiency. VietinBank is a good reflection of the Government’s success in restructuring, renovating and equitizing State-owned enterprises as well as the achievements in Vietnam’s global integration process.

In addition, Mr. Le Duc Tho addressed to the investors the strong restructuring in the economic development policies adopted by the Government, the improvement in investment and business environment such as the equitization and divestment in State-owned enterprises, the policies on developing private sector, M&A trends in Vietnam, policies on encouraging start-up business… Mr. Tho also presented to the investors the core and potential industries currently encouraged by the Government such as the high technology agriculture in alignment with the processing industry, energy industry with focus on renewable energy, green energy, infrastructure (roadway, railway, domestic waterway, marine, aviation), logistics and tourism.

Enterprises operating in the aforesaid industries were VietinBank’s traditional and strategic customers. As one of the dominant and vital banks in Vietnam, VietinBank is determined to support Vietnamese enterprises having the eligible requirements on capital and financial services. Also, VietinBank is committed to be a partner and support foreign enterprises, investors and investment funds to invest in Vietnam. Besides, Mr. Le Duc Tho extended the information on the trend and potential of start-up environment in Vietnam. VietinBank has always been a pioneer and a partner along with the Government to actively support start-up enterprises in Vietnam through the implementation of start-up business promotion programs and preferential interest rate policy in appropriateness with the features of new enterprises.

By providing such comprehensive solutions, VietinBank is confident that the solutions will serve as the foundation and essential driving force in further connecting and developing cooperation between foreign investors and local enterprises, creating mutual benefits and contributing to the development of Vietnamese economy as well as the relationship and connection in the ASEAN community.

The discussion chaired by Prime Minister Nguyen Xuan Phuc and members of the Government has delivered a clear message to the enterprises, financial institutions and investment funds both local and abroad the message on Vietnam’s determination of renovation, economic restructuring and growth model transformation for the 2017-2020 development phase. In addition, the discussion has updated the Government’s policies and efforts in promoting investment environment, start-up spirit, renovation and innovation… demonstrating the image of a constructive Government of purity, strength and integrity.  

The conference received special attention from the foreign investors and opened the opportunities for economic, commercial and investment cooperation between local and foreign partners, creating resources for Vietnam’s socio-economic development and successful global integration. 

Vân Anh

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