Opportunities for Standard Chartered to Expand Business in Vietnam

Prime Minister Pham Minh Chinh received Bill Winters, Global General Director of Standard Chartered Bank (UK) who is visiting and working in Vietnam, on the afternoon of September 5, at the Government Headquarters.

According to Prime Minister Pham Minh Chinh, despite the challenging global environment, Vietnam’s economy and society have recently made progress thanks to the National Assembly’s support, the Party’s accurate and diligent direction, the Government’s decisive and prompt policymaking, the entire political system’s concerted effort and unwavering resolve, as well as the assistance and support of foreign allies.

Prime Minister Pham Minh Chinh receives Mr. Bill Winters, Global General Director of Standard Chartered Bank. Photo: VNA

The Prime Minister expressed his admiration and gratitude for international investors and companies, including Standard Chartered Bank, who have accompanied and supported Vietnam in disease prevention and control as well as in fostering recovery and socioeconomic development.

In order to capitalize on sustainable growth drivers, particularly green growth, digital transformation, and energy transformation towards sustainability, the prime minister shared Vietnam’s priority of attracting green finance and resources. He also emphasized the importance of strengthening cooperation with development partners, international financial institutions, and global financial groups, including Standard Chartered Bank.

Prime Minister Pham Minh Chinh extends his congratulations on the success of Standard Chartered Bank over the years and predicts that the bank will continue to grow both internationally and in Vietnam. In order for Standard Chartered to continue operating in Vietnam and grow its operations there, the Vietnamese government is committed to fostering a favorable economic environment.

The head of the Vietnamese government proposed that Standard Chartered Bank step up its assistance to Vietnam in the process of digital transformation, green transformation, energy transformation toward sustainability, adaptation to climate change, and other related processes.

The Prime Minister suggested that Standard Chartered consider ways to make it easier for Vietnamese companies to access capital and for foreign investors to do the same. He also invited Standard Chartered to develop criteria and standards for investment projects and the capital access process for strategic infrastructure investments, such as digital, green, and important infrastructure projects.

The Prime Minister expressed his gratitude to Standard Chartered for working with the Ministry of Foreign Affairs to create the report “Vietnam: Preparing for the Leap Forward” and expressed his hope that Standard Chartered would continue its economic policy consultation and dialogue activities with the Vietnamese government agencies for socio-economic development goals in 2023 and the following years, which include promoting Vietnam’s advantages in terms of macro stability, managing inflation, keeping growth momentum and ensuring macro balance.

Prime Minister Pham Minh Chinh suggested that in the coming time, Standard Chartered Bank should strengthen its support for Vietnam in the process of digital transformation, green transformation, energy transformation towards sustainability and adaptation to climate change. (Source: VNA)

Global General Director of Standard Chartered Bank Bill Winters would like to thank the Prime Minister for his sharing, encouragement, and recommendations.

Bill Winters shared his thoughts on Vietnam’s swift and positive change in recent years, expressing his deep impression of the country’s tremendous development potential and the image of its people. He also evaluated Vietnam’s high efforts, solutions, and successes in pandemic prevention and control, recovery, and socio-economic development.

Vietnam is a significant sector of Standard Chartered’s operations in the Asia-Pacific region, according to Bill Winters.

As part of a promise based on Prime Minister Pham Minh Chinh’s views, Standard Chartered Bank will support Vietnam in attracting green finance, supporting green growth linked with carrying out COP 26 obligations, etc. Additionally, the Bank will keep advancing its national credit rating cooperation with Vietnamese government entities.

Bill Winters respectfully presented the Prime Minister with a report from Standard Chartered on the subject of “Vietnam: Preparing for the Leap Forward,” which the bank had prepared in collaboration with the Ministry of Foreign Affairs.

According to Bill Winters, Standard Chartered plans to increase its consulting efforts, policy discussions, and capacity building with Vietnamese government agencies and partners in the near future on economic issues, development, and areas of mutual interest, as well as the necessity of cooperation and communication between the two parties.