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Posts Tagged ‘horizon’

First Vietnamese-invested bank abroad on the horizon

In Uncategorized on August 14, 2008 at 4:48 pm

Hanoi (VNA) –The Governor of the State Bank of Vietnam on August 14 approved the Vietnam-Russia Joint Venture Bank’s plan to establish its wholly owned bank in Russia with a charter capital of 8 million USD.

The Ministry of Planning and Investment said this is the first Vietnamese-invested project in the banking area abroad.

The project will bring the number of Vietnamese- invested projects in Russia to 15 with a total capital of 200 million USD.

According to the Ministry of Planning and Investment, Vietnamese businesses by the end of July invested in 317 projects overseas capitalising at 2.5 billion USD.

The ministry said most of Vietnamese-invested projects abroad have been engaged in industrial, construction, service and agricultural sectors.-

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