Japan Day event for Citi clients in Vietnam

Japan continues to play a pivotal role in transforming Vietnam into a key manufacturing and trade hub.

Japan ranks as the second largest source of foreign direct investment (FDI) in Vietnam over the last 35 years and is among the top five trading partners of the country.

The event focused on providing valuable insights into the Asia Pacific market and on the Vietnamese economy.

Ramachandran A.S., Citi Vietnam’s country officer, in his opening speech at the event

During the event, speakers highlighted the dominant role of Asia in global trade, projecting that it will account for around 40 per cent of global trade flows by 2027, up from a 34 per cent share in 2010.

By 2030, ASEAN is expected to experience significant growth, with Vietnam playing a strategic role in the global supply chain.

Citi experts expressed confidence in Vietnam’s ongoing GDP recovery, particularly driven by export-oriented industries.

Despite an anticipated global slowdown in consumer demand, Citi economists foresee a moderate rebound in global smartphone demand in 2024, which will further boost Vietnam’s electronic export momentum.

With manufacturing FDI growing 40 per cent last year, Citi expects strong FDI inflows into Vietnam for 2024. According to Citi research, the top reasons cited for Vietnam being an attractive investment destination include the size and future growth potential of the local market, the cost-effectiveness, risk diversification benefits, and productivity of the workforce.

Vietnam’s GDP per capita has exceeded $4,000, driven by increasing urbanisation levels and the rising number of middle-class households. As a result, FDI has been gradually vying for Vietnam’s domestic market.

“This session is an open forum for Citi’s clients to discuss their needs and how Citi can support them across our local and global network,” said Ramachandran A.S., Citi Vietnam’s country officer, in his opening speech at the event.

With Japan desks across 15 Asia Pacific markets, Citi has one of the largest Japan desk networks among non-Japanese banks and provides world-class financial services and advice to its Japanese clients around the globe, including Vietnam.

As one of the largest international banks in Vietnam with a global network across 95 markets, Citi is celebrating its 30-year anniversary in the country this year.

Leveraging its global expertise and local insights, the bank remains committed to delivering top-tier banking solutions tailored to meet the diverse needs of banking clients.

Citi is dedicated to empowering businesses and driving sustainable economic growth in Vietnam through digital innovation and offering best-in-class services.

Citi wins 2023 Asiamoney’s Best International Bank in Vietnam Citi Vietnam has been recognised as the Best International Bank in Vietnam in the 2023 Asiamoney Awards.

Citi executive elected chairman of AmCham Vietnam in Ho Chi Minh City Ramachandran A.S (RamC), Citi country officer for Vietnam, has been elected chairman of the American Chamber of Commerce in Vietnam (AmCham Vietnam) in Ho Chi Minh City for the 2024 term.

Italian Design Day held in Vietnam Italian Design Day (IDD) 2024 took place in Ho Chi Minh City on March 26, as the eighth consecutive year that the Italian Trade Agency and the Italian Consulate General in Ho Chi Minh City have coordinated the event.