Tuesday, February 27, 2024
Tuesday, February 27, 2024
Home » PM Commends HSBC’s Contributions to Vietnam’s Economy

PM Commends HSBC’s Contributions to Vietnam’s Economy

by Chhem Kravann
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Prime Minister Pham Minh Chinh has thanked HSBC Holdings Plc and HSBC Vietnam for their assistance and contributions to the development of the banking – financial industry in particular and the economy of Vietnam in general.

Receiving Group Chairman of the UK-based HSBC Holdings Plc Mark Tucker in Hanoi on August 2, PM Chinh believed that the presence of British banks in Vietnam such as HSBC and Standard Chartered will make positive contributions to fostering friendship and effective cooperation between the two countries.

He applauded HSBC Vietnam’s efforts in expanding operations and forming strategic partnerships and collaboration with various Vietnamese State-owned and private businesses and corporations.

The government leader noted with pleasure that HSBC Vietnam has been operating effectively, actively engaging in dialogues, and working closely with management agencies, thereby contributing positively to the continuous improvement of the banking legal framework in Vietnam.

The PM spoke highly of the lender’s proactive approach and cooperation in attracting and supporting foreign investors in the process of expanding investment in Vietnam, as well as its engagement in the Vietnamese Government’s economic development programmes. Particularly, HSBC has taken practical actions to fulfill its commitments to Vietnam’s green and sustainable growth, playing a crucial role in the Working Group supporting capital mobilisation for Vietnam’s Just Energy Transition Partnership.

Hailing HSBC’s commitment to allocating up to 12 billion USD for Vietnam’s sustainable development by 2030, the PM hoped that HSBC would actively help Vietnam effectively utilise this financial resource, enabling the country to deliver on its climate change commitments and achieve sustainable development goals.

The Vietnamese Government expects HSBC to continue offering even more active support in arranging and connecting international credit sources for energy transition and low-carbon economic development, as well as in digital transformation, especially in banking and the development of circular and sharing economy, he said.

PM Chinh also called for HSBC’s assistance in sharing experience in building a contingent of capable credit appraisal officers to facilitate the process of granting credit to infrastructure, sustainable energy transition and other green projects; and providing essential funding for key sectors that drive Vietnam’s green growth in the future.

Agreeing with PM Chinh’s proposals, Tucker praised Vietnam for choosing green development, including the commitment to net-zero emissions by 2050.

He informed the host about HSBC’s global activities and strategies, its commitment to important strategies of the Government, businesses, and consumers in Vietnam, and the results of its sustainable and green credit programmes in the country.

HSBC will continue its long-term business operations and actively contribute to the Vietnamese market, he said, suggesting the PM direct relevant ministries, agencies and localities to create favourable conditions for and work closely with HSBC to further foster the country’s development.

Source: Vietnam Plus

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