PM suggests Japan’s bank enlarge credit scale in Vietnam

PM Nguyen Xuan Phuc (R) receives President of Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Mitsui Banking Corporation (SMBC) President Koichi Miyata, Ha Noi, November 22, 2018 - Photo: VGP/Quang Hieu

The PM made that statement on November 22 at his reception for President of Sumitomo Mitsui Financial Group (SMFG) and SMBC President Koichi Miyata.

At the meeting, the PM highly spoke of the SMBC’s participation in arranging capital for key projects serving for Vietnam’s socio-economic development, making practical and specific contributions to developing and consolidating the two nations’ relationship.

He expressed his hope that the SMBC will continue expanding investment activities in Vietnam and actively contribute to the restructuring process of the banking system in the nation.

The PM proposed the SMFG and the SMBC uphold the bridging role and encourage Japanese firms to invest in Vietnam, thus making crucial contributions to strengthening the two nations’ relations.

The Vietnamese Government is paying special attention to attracting more Japanese investment in Vietnam and willing to tackle difficulties and obstacles for Japanese investors, he said.

Announcing positive outcomes in restructuring the banking system in Vietnam, he asserted that the nation will maintain the high economic growth in the upcoming time in all fields, thus increasing the economic scale.

The Vietnamese Government also closely controls the inflation rate, real estate credit and stocks to ensure the macro-economic stability to form a sustainable business environment for foreign investors, he added.

For his side, Mr. Koichi Miyata expressed thanks to the Vietnamese Government, ministries and agencies, especially the State Bank of Vietnam to facilitate the SMBC to operate in Vietnam.

He expressed his hope that the bank will expand preferential loan supply for Vietnam, especially in fields of infrastructure and further join the business process in Vietnam as well as receive more assistance from the Vietnamese Government, PM, ministries and agencies.