2023-06-23 10:00:00
Deputy Prime Minister Le Minh Khai hosted a reception in Hanoi on June 23 for the CEOs of the Industrial Bank of the Republic of Korea (IBK), Kim Sung-tae, and the South Korean Development Bank (KDB), Kang Seoghoon.
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Working session between the Vietnamese (right) and South Korean delegations on June 23 in Hanoi. Photo: ND/CVN
Stressing that the Vietnamese government hopes that with the strengthening of bilateral relations towards a comprehensive strategic partnership, the two sides will enter a glorious new chapter of cooperation, Lê Minh Khai said he expects companies in the Republic of Korea, including its banks in Vietnam, further promote their role and support the growth of the partnership between the two countries, especially in the economic field.
Le Minh Khai noted the positive contributions of the two banks in connecting ROK investments and projects to Vietnam, pointing out that recently, IBK has expanded its activities in Vietnam with greater attention to small and medium enterprises. and the renewable energy sector. This is a good path for the bank in Vietnam, showing its strong commitment to support the Vietnamese economy, corresponding to the current key orientations of the Vietnamese government, he said.
Shared experiences
The official suggested that the IBK continue to promote its experience and strengths as well as its role in the SME sector, thereby positively supporting Vietnam-ROK economic cooperation.
Le Minh Khai hailed KDB’s cooperation with the Vietnamese Ministry of Finance, supporting the ministry in finding appropriate business models for the restructuring of the Vietnam Development Bank (VDB).
For his part, Kang Seoghoon said that although the global economy is facing difficulties, Vietnam has always experienced sustainable growth.
Kang Seoghoon said he hoped for a strong partnership with Vietnamese companies in high-tech, digital transformation and green energy development for climate change mitigation. He said the bank expects the establishment of a branch in Vietnam to share its experience with Vietnamese companies and help them open up to the world.
Deputy Prime Minister Le Minh Khai during the meeting with the leaders of two public banks in the R. of Korea, on June 23 in Hanoi.
Photo : ND/CVN
IBK Chairman Kim Sung-tae said he wants to establish a bank that specializes in providing financial services to small and medium-sized enterprises, thereby improving the ecosystem of Vietnamese state-owned enterprises, contributing to the growth of ties between the two countries.
Deputy Prime Minister Le Minh Khai said the ROK is currently the country with the largest presence of financial and banking organizations in Vietnam. He noted that Vietnam hosts 96 credit institutions and branches of foreign banks.
Since 2011, Vietnam has strongly implemented economic restructuring, especially that of the financial sector. For the period 2021-2025, Vietnam aims to restructure the system of credit institutions to strengthen the quality and efficiency of the system, he said, adding that the country hopes for the positive involvement of financial organizations and banks of the Republic of Korea in the process.
He pointed out that the Vietnamese government encourages foreign financial and banking organizations to engage in the restructuring of local credit institutions and deal with poorly performing banks. This will create abundant opportunities for foreign financial organizations willing to establish a presence in Vietnam, he added.
VNA/CVN
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