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Posts Tagged ‘licensed’

US, Taiwanese banks licensed to open Vietnam branches

In Uncategorized on October 14, 2010 at 6:26 pm

The State Bank of Vietnam has granted operation licences to America’s First Commercial Bank and the Taipei-based Shanghai Commercial and Savings Bank to open two branches in Vietnam.

First Commercial Bank, a division of Synovus Bank, is chartered in the state of Georgia, the US.

Shanghai Commercial and Savings Bank is currently one of the largest privately held banks in Taiwan.

Mr. Nguyen Van Giau, Governor of the State Bank of Vietnam, presented the licenses to representatives of the two foreign banks in Hanoi on Oct. 6.

The two branches will have US$15 million in chartered capital each and will perform capital mobilization, credit activities and payment services, as well as provide other banking services.

This photo, taken on October 12, 2010, shows an ATM booth under construction next to an operational one on a street in District 5, Ho Chi Minh City – a southern economic hub. (Photo: Thuy Nguyen)

First Commercial Bank will set up a branch in Hanoi.

Shanghai Commercial and Savings Bank will upgrade its operational representative office in Bien Hoa City, the capital of the southern province of Dong Nai, into a branch, according to a bank spokesperson.

The Bien Hoa office was established in March 2006. It will become the bank’s second overseas branch after its Hong Kong branch opened in June 2008, the Taiwanese lender said.

The Dong Nai branch is expected to serve Taiwanese investors in Ho Chi Minh City and its neighboring Binh Duong Province, according to the spokesperson.

Source: SGGP

Another digital signature provider licensed

In Uncategorized on June 23, 2010 at 4:36 pm

Another digital signature provider licensed

QĐND – Wednesday, June 23, 2010, 22:1 (GMT+7)

The Ministry of Information and Communications on June 22 issued a licence to the Military Telecoms Group (Viettel), making Vietnam’s forth provider of digital signature certification service.

Previously, the Vietnam Post and Telecommunications Group (VNPT), the Nacencomm Technologies Joint Stock Company and the BKAV Network Security Company had been given the go-ahead to provide the new service in the country.

Under its licence, Viettel will be able to offer the new service to agencies, organizations, individuals, websites and other software developers.

Digital signatures will help businesses speed up their e-transactions, said Viettel’s Deputy Director General Tong Viet Trung at the licensing ceremony.
Digital signatures are now used in many developed countries around the world to ensure the safety of public e-transactions.

The FPT Corporation, another giant in Vietnam’s communications sector, is reportedly rolling up its sleeves to provide the service.

Source: VNA

Source: QDND

Foreign banks licensed for expansion in Vietnam

In Uncategorized on October 11, 2008 at 9:12 am

Hanoi (VNA) – The State Bank of Vietnam (SVB)’s Governor has granted licences to foreign banks to set up banks, increase funds to their branches and open representative offices in Vietnam as part of the country’s commitments to international economic integration.

The Australia and New Zealand Banking Group Limited (ANZ) has become the third wholly foreign owned bank in Vietnam under a licence signed by the SVB’s Governor on Oct. 9.

The licence permits ANZ Bank ( Vietnam ) to operate over a period of 99 years with a charter capital of 1 trillion VND.

Earlier, the SBV licensed two of the UK ’s banking giants, HSBC and Standard Chartered Bank.

On Oct. 8, SVB allowed the US bank, JPMorgan Chase N.A. to increase its branch capital in Ho Chi Minh City from 17 million USD to 27 million USD.

Previously, the Malaysia-based RHB Bank Berhad was granted a licence to open its representative office in Ho Chi Minh City with an initial operating period of five years.-

Temasek Holdings licensed to open Hanoi rep. office

In Uncategorized on September 18, 2008 at 6:04 pm

Singapore’s Temasek Holdings (Private) Limited has been officially licensed to operate its representative office in Hanoi.

The new office will enable the corporation to foster closer working ties with Vietnamese businesses and reinforce its commitment to Vietnam as a key market in Southeast Asia.

Temasek first established its presence in Vietnam in 2005 through a representative office in Ho Chi Minh City.

The two rep. offices function as offices for communication and market research and promote cooperative projects on securities and stock market in Vietnam.

They also supervise the execution of signed agreements between Temasek and Vietnamese economic organisations and Temasek funding projects in Vietnam.

With the Hanoi new office and increased staff strength, the corporation can now further tap on the advantages of having a presence in Vietnam’s two important business centres, said its Chief Representative in Vietnam, Derek Lau.

He added that the corporation is in a strategic position to reach out to existing and potential partners to explore partnerships and investment opportunities in Vietnam.

Temasek Holdings has invested in some companies in Vietnam such as Minh Phu Seafood Joint Stock Company, Vinasun Taxi Company and Binh Chanh Construction and Investment Company.-