Standard Chartered pledges to invest US$8 bln in sustainable development in Viet Nam

VGP – Viet Nam encourages foreign banks to join restructuring of weak credit institutions, said Prime Minister Pham Minh Chinh.

November 01, 2021 8:00 PM GMT+7

Prime Minister Pham Minh Chinh receives Standard Chartered Chairman José Vinals, November 1, 2021. Photo: VNA

Pham made the above statement during his reception for Standard Chartered Chairman José Vinals in Scotland on Monday.

The Government chief said Viet Nam is stepping up digital transformation in the banking sector in a bid to further lure foreign investment into the sector.

The Southeast Asian country also expects to cooperate with partners to build three major financial hubs in the northern, central and southern regions, Pham said.

As a country most vulnerable to climate change, Viet Nam has tried its best to advance green growth and adapt to climate change in a sustainable manner while seeking foreign partners’ assistance for advancing human resource development, strengthening national governance capacity, and accessing green technologies and green finance.

For his part, Vinals expressed thanks to the Vietnamese Government for its valuable support for Standard Chartered’s operation in Viet Nam, committing to long-term investment in the country.

Vinals pledged that his bank will pour US$8 billion in sustainable development in Viet Nam./.

By Huong Giang