Hanoi (VNA) – Deputy PrimeMinister Vuong Dinh Hue called on Singapore’s Clermont Group to share itsexperience with and provide consultations for Vietnam in building anddeveloping an ecosystem for fintech and digital banking.

At a working session with RichardF.Chandler, Chairman and Founder of Clermont Group, in Hanoi on December 11,the official suggested the group consider direct provision of services in the fintechand digital banking sectors in Vietnam.

Although the Vietnamese Government and thePrime Minister have no plans to establish more wholly foreign-owned banks, theyencourage foreign investors to participate in restructuring weak banks and thenbecome an entity holding 100 percent of capital in line with domestic legalregulations, he stressed.

Hue asked Clermont to select banks forrestructuring through the State Bank of Vietnam and relevant Vietnameseagencies and submit the list to the Government for consideration.

Lauding Clermont’s successes in Vietnamthrough its investment in the stock market, initial public offering (IPO) ofsome banks and health care, the official urged the group to train humanresources in these realms.

He also spoke highly of the group’smoral principles as well as its commitments to long-term investment in Vietnam.

The Vietnamese Government and the PMalways make efforts to improve the local business climate and nationalcompetitiveness, and create the best possible conditions for domestic andforeign investors, he noted.

Asked how Clermont can do to helpVietnam in bank restructuring and bad debt settlement, Richard Chandler saidwith its experience in Brazil, Russia, Japan and India, the group would jointhe effort, noting that the group wishes to make more contributions to Vietnam.

The Clermont Group is an international business group with its headquarters inSingapore. Founded in 1986 by New Zealand-born entrepreneur Richard F Chandler,the Clermont Group builds and invests in businesses in healthcare, financial servicesand aerospace. These businesses employ over 5,000 people around the world.

In Vietnam, Clermont invested in Hoan MyMedical Corporation in 2013. From six hospitals at that time, Hoan My now comprises15 hospitals and six clinics, where more than 4,000 employees serve 3.7 millionpatients annually. In 2017, Hoan My was awarded 'Vietnam Hospital of the Year'by Frost & Sullivan and the Labour Medal by the President of Vietnam forits achievements in medical services, charitable activities and contribution tobuilding.-VNA