Sumitomo Mitsui has expressed the intention of expanding operations in small- and medium-sized enterprises development and infrastructure building in Vietnam (Photo: VNA)Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue hassuggested the Sumitomo Mitsui Banking Corporation (SMBC) invest ininfrastructure construction in Vietnam while meeting with an executive of theJapanese bank.
Sumitomo Mitsui is currently holding 15 percentof the charter capital of the Vietnam Export-Import Commercial Joint Stock Bank(Eximbank) and used to support Japanese and Vietnamese businesses with capital andfinancial services.
It has expressed the intention of expandingoperations in small- and medium-sized enterprises development andinfrastructure building in the country.
At the meeting in Hanoi on May 3, Deputy PM Hueapplauded Sumitomo Mitsui’s investment and business partnership in Vietnam.
He said about 700km of a north-southexpressway is set to be built in the country from now to 2020, and theconstruction will cost some 200 trillion VND (8.8 billion USD). SMBC and otherinvestors from Vietnam and other countries can make investment in the form of public-privatepartnership.
Hue also voiced his hope that with itsexperience in financial management, SMBC will help turn Eximbank into a strongcredit organisation and further take part in the equitisation and restructuringof State-owned enterprises in Vietnam.
For his part, SMBC Managing Director RyujiNishisaki said his firm is interested in the restructuring of creditorganisations in Vietnam and will keep working to successfully restructureEximbank in the near future.
He also highly valued Vietnam’s development ofthe derivatives market and the bond market to diversify capital mobilisationchannels.
SMBC is ready to send its affiliates working insecurities to enter the derivatives market of Vietnam, he added.-VNA
VNA
