MUFG is one of Japan’s three largest banks, operating more than 770 branches domestically and 76 overseas. In Vietnam, MUFG Bank has been present since 1998. In 2013, it became a strategic partner of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) by acquiring a 19.73% stake in the Vietnamese financial institution.
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Prime Minister Pham Minh Chinh (R) hosts a reception for Hironori Kamezawa, CEO of Japan’s Mitsubishi UFJ Financial Group, in Hanoi on August 7. |
Reporting on MUFG’s partnership with VietinBank and its future plans in Vietnam, Kamezawa expressed appreciation for the support provided by the Vietnamese government leader and relevant ministries, which, he said, had enabled the partnership to grow steadily and strengthened VietinBank’s governance and stability.
Kamezawa noted that Vietnam remains one of the most attractive investment destinations in the region and is increasingly important to Japanese businesses. He affirmed MUFG’s commitment to contributing to the development of Vietnam’s banking sector, the Vietnamese economy, and bilateral cooperation with Japan.
MUFG aims to continue serving as a bridge between the business community and Vietnamese regulatory authorities. It also hopes to support Vietnam in establishing an international financial center, an important step of Vietnam and an area in which MUFG has strong expertise, the CEO noted.
The group is also actively supporting start-ups and sustainable innovation in the agro-food sector, promoting environmental and social responsibility, and assisting with green transition in the financial and banking industry, he added.
PM Pham Minh Chinh welcomed MUFG’s effective business activities in Vietnam, particularly its results of strategic cooperation with VietinBank over the past years. He highlighted the strong Vietnam–Japan relationship and affirmed the importance of learning from Japan’s development experience.
He also praised MUFG and VietinBank’s collaboration with the Ministry of Finance in successfully organizing six roundtables between the Vietnamese government leader and major Japanese corporations, which have served to address business concerns and reinforce investor confidence.
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An overview of the reception |
The PM welcomed MUFG’s future investment and business plans, especially initiatives that support Vietnam’s net-zero goal by 2050, digital transformation in banking, and the development of a start-up ecosystem. He called on MUFG, as a leading and trusted bank in Japan’s business community, to continue expanding cooperation with Vietnam, contributing to promoting the Vietnam - Japan Comprehensive Strategic Partnership.
He affirmed that the Vietnamese Government will continue to create favorable conditions for Japanese banks to cooperate and invest in Vietnam, describing it as a sound and strategic investment direction.
PM Pham Minh Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial center in Da Nang and Ho Chi Minh City. He also encouraged the group to share development experience, contribute to policymaking, and collaborate in emerging areas such as digital, green, and circular economy.
The PM called for MUFG’s support in developing Vietnam’s capital market, green finance, carbon credit mechanisms, and access to capital under the Asia Zero Emission Community (AZEC). He also urged the bank to promote innovation, support start-ups, and help organize investment and development conferences in Vietnam to mobilize resources and connect Vietnamese businesses with international partners.
Source: VNA