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Official Gazette

Monday, December 10, 2018

PM calls on SMBC to expand investment in Vietnam

Updated: 09:35’ - 23/11/2018
Prime Minister Nguyen Xuan Phuc suggested Sumitomo Mitsui Banking Corporation (SMBC) further expand its investment in Vietnam during a reception in Hanoi on November 22 for President of Sumitomo Mitsui Financial Group (SMFG) and SMBC President Koichi Miyata. 

As Vietnam continues its path towards strong growth, PM Phuc hoped that SMBC will actively join in the country’s restructuring of its banking system.

Prime Minister Nguyen Xuan Phuc (Right) and SMBC and SMFG President Koichi Miyata__Photo: VNA

He proposed that SMFG and SMBC uphold their roles as bridges, connecting and promoting Japanese investment in Vietnam, thereby strengthening the bilateral comprehensive partnership.

The Vietnamese Government will continue to listen to feedback and remove obstacles facing Japanese investors, he said, adding that he hopes Japan will become the largest foreign investor in the country. 

Lauding SMBC-funded projects in Vietnam as important and large-scale, PM Phuc wished that SMBC would increase its credit to Vietnamese and Japanese partners. 

The leader affirmed that Vietnam will increase its economic scale, while keeping inflation and credit for real estate and securities under control, thus creating a stable business environment for investors.

He expected that SMBC would continue reaping successes in Vietnam in the near future. 

Miyata, for his part, said SMBC will expand the supply of preferential loans to Vietnam, especially in infrastructure. 

He said SMBC wants to receive further support from the Vietnamese Government, ministries, and agencies, adding that it will carry on standing side-by-side with Vietnam during its development process. 

Miyata took this occasion to thanked the Vietnamese Government, ministries and sectors, especially the State Bank of Vietnam, for creating optimal conditions for SMBC to operate smoothly in the country.-(VNA/VLLF)


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