Business

Vietcombank proposes plan for new Lao subsidiary

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has proposed to its shareholders the establishment of a Lao subsidiary.
Vietcombank proposes plan for new Lao subsidiary ảnh 1Illustrative photo (Photo: thoibaonganhang.com)

Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has proposed to its shareholders the establishment of a Lao subsidiary.

The subsidiary would be named Vietnam Foreign Trade Bank Limited in Laos, headquartered in the Lao capital of Vientiane with an initial chartered capital of 80 million USD.

Vietcombank’s leader board said that the establishment of the new subsidiary would meet the bank’s expansion policies toward emerging markets.

If the proposal is approved, Vietcombank would increase its total foreign subsidiaries to three. 

At the end of June, Vietcombank had two overseas sub-units, including the finance company Vinafico Hong Kong located in Hong Kong and Vietcombank Money Inc located in the US.-VNA

VNA
#Vietcombank#Lao subsidiary#overseas sub-units#Vinafico Hong Kong#Vietcombank Money Inc#Vietnam Foreign Trade Bank Limited
Follow VietnamPlus

Related News

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.