The State Bank of Vietnam (SBV) is willing to create a more transparent and attractive business environment in order to persuade US enterprises to operate in Vietnam, SBV Vice Governor Nguyen Thi Hong has said.

During her recent working session with Alexander C. Feldman, President of the US-ASEAN Business Council, Hong said SBV encourages voluntary mergers, consolidations and acquisitions of credit institutions, ensuring the interests of depositors and the rights and obligations of economic stakeholders in line with legal regulations.

The bank also fosters the restructuring of credit institutions to improve their efficiency, she said.

The working session. Photo: laodong.com.vn

For his part, Feldman affirmed that US firms consider Vietnam as a promising market, saying that they want to expand their investment in Vietnam’s strongest sectors.

He noted that US enterprises care about Vietnam’s attempts to make the banking system healthier.

Representatives from the two sides discussed the development of the capital market in Vietnam and solutions to help small- and medium-sized enterprises gain access to capital. They also considered the best ways in which to promote the application of modern technologies in the international payment process.

A Washington DC-based non-profit organization, the US-ASEAN Business Council includes nearly 120 member groups operating in many sectors in the US. The body serves as a bridge linking US investors and the Vietnamese Government.

It has supported Vietnam in the past, campaigning for the approval of a Bilateral Trade Agreement (BTA) in 2001 and supporting Vietnam’s bid to join the World Trade Organization in 2007. At present, there are an increasing number of US groups with an interest in the Vietnamese market, leading to tightening business links.

Source: VNA