The Federal Reserve System of the United States has approved a dossier from the joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcombank) asking for permits to establish its representative office in New York, according to the leaders of Vietcombank.
Vietcombank is the first bank of Vietnam
to be licensed to open a representative office in New York.
Earlier on October 24, the New York State Department of Taxation
and Finance also issued an approval in principle with regards to Vietcombank’s
application for licence.
Marking a significant strategic step for
Vietcombank, it will be the first time a Vietnamese commercial bank has ever
been licensed to set up a representative office in the US, one of the
world’s leading countries regarding its transparent and complete legal
framework, and close management and supervision mechanism.
The event has highlighted the position,
brand and influence of the Vietnamese bank to the international community,
while also affirming Vietcombank’s goal of reaching out to the "great ocean” in
its development orientations on becoming one of the world’s 300 largest
financial banking groups, administrated in accordance with the best
international practices, by 2020.
Vietcombank’s representative office in New
York will perform the functions of connecting with existing and potential
customers in the US market; carrying out analysis reports on the market and
finance-banking sector; supporting the maintenance of relations with US
financial institutions; and attending business conferences and seminars to
establish relationships, with the aim to effectively support the business
operations of Vietcombank as well as to support partner businesses in their
investment and business activities in the US market.
Based on the US
side’s approval of its permit application, Vietcombank will continue to perform
the necessary formalities in the time ahead, looking to officially obtain the
licence and launch its representative office in New York as soon as possible.
Source: NDO
Maximizing local potential and advantages, Yen Tri commune in Yen Thuy district is actively promoting the cultivation of medicinal herbs and turning medicinal herbs into One Commune - One Product (OCOP) products.
Situated at the gateway to the Northwest, Hoa Binh province has a population of over 900,000, including about 540,000 of working age. It is home to 6,000 businesses and production facilities, providing employment for over 100,000 workers. The remaining workforce is engaged in informal jobs, works in enterprises outside the province, or contributes to agro-forestry-fisheries. Additionally, around 3,000 workers are employed abroad.
The Hoa Binh provincial People's Committee has issued Decision No. 2767/QD-UBND announcing the rankings of departments, agencies, districts and Hoa Binh city in the Public Administration Reform Index (PAR) and the Satisfaction Index of Public Administration Services (SIPAS) in 2024.
The cultivation of Dam Xanh fish (Bangana lemassoni), a unique fish species, has seen remarkable growth in Mai Chau district, thanks to its high economic value and effectiveness. Initially concentrated in Van Mai commune, farming has now extended to four other communes, namely Mai Hich, Mai Ha, Chieng Chau, and Son Thuy. These areas benefit from pristine underground water flowing from mountain crevices, providing ideal conditions for raising this specialty fish.
In 2024, the total state budget revenue of Hoa Binh Province is estimated at approximately VND 6,930 billion, achieving 183% of the Government’s target, 126% of the target assigned by the Provincial People's Council, and 145% compared to the same period last year.
In 2024, Hoa Binh province has shown signs of improvement in attracting investment and developing enterprises.
