Ho Chi Minh City supports and creates optimal conditions for the Republic of Korea’s NongHyup Bank to open a branch in the southern largest economic hub of Vietnam, said a municipal official.
NongHyup Bank's Hanoi branch was inaugurated in 2016. (Photo: thuonggiaonline.vn)
HCM City (VNA) – Ho Chi Minh Citysupports and creates optimal conditions for the Republic of Korea’s NongHyupBank to open a branch in the southern largest economic hub of Vietnam, said amunicipal official.
While receiving NongHyup Bank PresidentLee Dae-hoon on January 31, Vice Chairman of the municipal People’s CouncilPham Duc Hai congratulated the bank on its recent achievements, especially theexpansion of branches in regional countries, including Vietnam.
Hai said HCM City supports NongHyup’s plan toopen the branch – a move shows the bank’s resolve to invest more intensivelyand extensively in the city.
He expressed his belief that with itsexperiences in opening the Hanoi branch, the NongHyup Bank will be successfulin deploying banking and credit activities in HCM City, thereby helping to connectinvestment and business activities of Korean and Vietnamese firms.
Briefing his host about NongHyup’s operations,Lee asked HCM City leaders to support the opening of the branch, thus creating favourableconditions for Korean enterprises to do business in the city.
NongHyup hopes that the bank can apply itsexperiences in agricultural credit provision in its activities in HCM City, he added.
The NongHyup Bank is an agricultural bankfounded in 1961 in the RoK. It launched a representative office in Hanoi in2013 and another in HCM City in November 2018. Its Hanoi branch was inauguratedin 2016.-VNA
The Singapore-based United Overseas Bank (UOB) will debut in Vietnam on July 2. It is the ninth foreign wholly-owned bank and the first Singaporean bank in the country.
Healthy domestic banks should focus on improving the transparency in their audited financial statements to attract foreign investors as some banks have recently succeeded with the strategy, experts suggested.
The State Bank of Vietnam last week sent a document to the Republic of Korea’s Woori Bank allowing it to open five branches and a transaction office in Vietnam.
Foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector.
Success of foreign banks in Vietnam has been fueling the volume of capital poured into the sector, while these banks are changing their operations to grow.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
NongHyup Bank's Hanoi branch was inaugurated in 2016.
