This is the affirmation of Mr. Luu Trung Thai - Chairman of the Board of Directors of MB based on the desire to build a comprehensive digital platform to promote effective chain interaction and expand the search for connection opportunities for the Korean business community to invest in Vietnam.
In early July, within the framework of Prime Minister Pham Minh Chinh's official visit to Korea, nearly 350 Korean enterprises and 180 Vietnamese enterprises and representatives of ministries and sectors attended the Vietnam - Korea Business Forum.
At the forum, delegates were introduced to the development situation of Vietnam; potential, strengths, development priorities, investment attraction of Vietnam; Vietnam - Korea relations; investment and trade situation between Vietnam and Korea; potential, advantages of Korean enterprises and opportunities in the Vietnamese market...
“Before doing business, you must be friends”
As one of the four main speakers of the forum, Mr. Luu Trung Thai - Chairman of the Board of Directors of MB gave a speech on the topic "Digital transformation in the financial industry" - focusing on three main contents: Economy, Green Economy and Circular Economy.
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| Mr. Luu Trung Thai - Chairman of MB Board of Directors spoke at the Vietnam - Korea Business Forum in Seoul. |
Sharing the perspective of Vietnamese enterprises on investment opportunities of Korean enterprises, the head of MB said that enterprises of the two countries need to find a way to quickly implement cooperation, based on two factors.
The first is trust and cooperation, as the Koreans say, “before doing business, you must be friends.” The second is how to develop the value chain when the trend of production shifting from China to other countries. “We are ready to cooperate and point out partners who can ensure the capabilities from Vietnam,” said Mr. Thai.
In addition, in an interview with the Korea Herald of Korea on July 2 in Seoul, the Chairman of the Board of Directors of MB said that when businesses come to invest in Vietnam and send Korean personnel to live and work in Vietnam, providing care services for Korean personnel in Vietnam will also help them do better business. Therefore, from August 2024, MB will launch the Korean language on the banking application to bring a more convenient experience to the Korean community in Vietnam.
“Vietnamese banks have yet to provide specialized services for Koreans living in Vietnam, forcing them to rely on branches of Korean banks. Realizing the increasing number of Korean citizens and companies entering Vietnam, from August, MB will provide more suitable services for the Korean community by launching a banking application in Korean,” the Chairman of MB’s Board of Directors shared.
The “handshake” between MB and POSCO International
Also at the Vietnam – Korea Business Forum, witnessed by Prime Minister Pham Minh Chinh, the Military Commercial Joint Stock Bank (MB) and POSCO International signed a strategic cooperation agreement. At the same time, Prime Minister Pham Minh Chinh, along with senior Vietnamese leaders and the MB delegation led by Chairman of the Board of Directors Luu Trung Thai, had an in-depth working session with the Chairman of POSCO Group.
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| At the Vietnam - Korea Business Forum, witnessed by Prime Minister Pham Minh Chinh, the Military Commercial Joint Stock Bank (MB) and POSCO International signed a strategic cooperation agreement. |
Accordingly, Prime Minister Pham Minh Chinh highly appreciated the investment and business activities of POSCO Group in Vietnam through the operational efficiency of its member companies. At the same time, the Prime Minister welcomed the group to expand its investment and operations in Vietnam towards green development, promoting the circular economy and digital economy.
At the meeting, Mr. Chang In Hwa - CEO of the Group said that POSCO is in the top 5 businesses in Korea in the fields of steel, energy, trade, electric vehicle (EV) battery materials...; POSCO Group's revenue in 2023 reached 59 billion USD. In Vietnam, POSCO has established 4 steel branches, with a total investment of 1.8 billion USD; POSCO wishes to continue expanding cooperation and investment in Vietnam in a number of new fields; at the same time, it wants to convert the specialized port that POSCO is using in Vietnam into a commercial port; allowing POSCO to invest in an LNG power plant in Vietnam.
Sharing more about the strategic cooperation agreement with POSCO, Mr. Luu Trung Thai - Chairman of MB's Board of Directors affirmed that the cooperation not only shows the ability to conquer the "big guys" of Korea but also continues to open up many opportunities for cooperation, business and investment for MB and other partners of the two countries.
Maximum support for the success of Korean enterprises investing in Vietnam
Previously, sharing with the press about MB's orientation in accompanying and supporting Korean enterprises investing in Vietnam, Mr. Vu Thanh Trung - Vice Chairman of the Board of Directors said that providing products and services to maximize the success of FDI enterprises in general and Korean enterprises in Vietnam in particular plays a very important role in MB's business policy orientations.
“To bring success to Korean FDI enterprises, especially in Vietnam, MB has built many product and service packages as well as platforms to help enterprises succeed in investing and doing business in Vietnam. On the business side, we are building very strong digital applications/platforms based on the most advanced technologies, helping enterprises when investing in Vietnam to be able to manage their investment activities here well. In-depth reporting and analysis systems are completely available on digital platforms for enterprises,” said Mr. Trung.
In addition, MB also hopes to cooperate with Korean credit institutions to expand the QR code payment system in Vietnam.
“If we connect the MBBank App that is about to be launched for Koreans with Korean banks, Koreans coming to Vietnam will be able to use our QR code system through their banking apps. We are currently looking for partners,” Mr. Trung shared.
Source: https://baoquocte.vn/chu-tich-hdqt-mb-san-sang-ket-noi-va-hop-tac-xay-dung-cac-nen-tang-so-cho-doanh-nghiep-han-quoc-278569.html
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