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Banking & Finance

Vietcombank to cooperate with Singapore Manufacturing Federation

Released at: 17:51, 17/10/2017

Vietcombank to cooperate with Singapore Manufacturing Federation

At the signing ceremony (Photo from vietcombank.com.vn)

Cooperative arrangement to benefit bank customers and federation members in investment activities.

by Hai Van

Vietcombank signed an official cooperative agreement with the Singapore Manufacturing Federation (SMF) on October 17.

The two will cooperate comprehensively in various fields in order to best exploit the potential of each and bring benefits to customers of Vietcombank and SMF members.

Deputy Director General of Vietcombank, Ms. Dinh Thi Thai, said the strategic partnership between Vietnam and Singapore has risen to a new level since the official visit by Singaporean Prime Minister Ly Hien Long from March 21 to 24.

Bilateral trade between the two countries reached nearly $14 billion in 2016. Vietnam continues to be Singapore’s 12th largest trading partner, while Singapore remains one of the three largest investors in Vietnam.

Many projects of Singaporean investors in Vietnam are operating effectively, creating jobs, increasing export turnover, and contributing to economic growth.

She also emphasized that Vietcombank was the first in Vietnam with a representative office in Singapore, supporting the operations of financial institutions and businesses in the country that wish to invest in Vietnam.

“I expect that Vietcombank and SMF will continue cooperating tightly to boost bilateral relations,” she said.

Mr. Douglas Foo, President of SMF, believes that with Vietcombank’s history of operations since 1963, it can help SMF members in payments, cash management, and trade finance.

Within the framework of the signing ceremony, Vietcombank and SMF held a meeting linking loyal Vietcombank customers and businesses in Singapore that may invest in Vietnam.

It was an opportunity for Vietcombank customers and SMF members to meet together and exchange information, thus presenting them with more opportunities to expand cooperation and boost business activities.

SMF has more than 3,000 members in various fields, such as real estate, electricity, electrical appliances, food and beverages, energy, and chemicals.

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