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
Dao Village’s honey – a product certified with a 3-star OCOP (One Commune One Product) rating by Thong Nhat Agricultural Cooperative in Dao Village (Hoa Binh City) – is highly regarded by consumers for its quality, richness, and variety in packaging. The distinctively sweet taste of Dao Village’s honey leaves a lasting impression on anyone who has tried it.
In alignment with Project No. 07-DA/TU, issued by the Hoa Binh provincial Party Committee on November 1, 2021, Lac Thuy district has actively promoted investment and supported the sustainable development of its industrial and handicraft sectors during the 2021–2025 period. Alongside this, the district has remained committed to preserving and revitalising traditional craft villages.
Located in the northern part of Lac Thuy district, with a temperate climate and fertile soil, Phu Thanh commune has great potential and advantages in growing tea. The long-standing experience, combined with strict adherence to organic farming practices in the tea gardens, ensures that the dried tea products from Phu Thanh and Lac Thuy as a whole are sold out immediately upon production, providing a stable and prosperous life for the local people.
Amid efforts to streamline the administrative apparatus, Hoa Binh province has intensified measures to address challenges in land clearance, resettlement support, and infrastructure investment, aiming to speed up the progress of key projects.
Hoa Binh province has posted an unprecedented economic growth rate of 12.76% in the first quarter of 2025, marking its highest quarterly performance to date and positioning it as the second fastest-growing locality in the country, trailing only Bac Giang province.
Under current regulations, products in the One Commune – One Product (OCOP) programme that are rated three stars or higher must undergo re-evaluation every three months. However, in reality, some of these products fail to consistently meet the required standards, raising concerns about the sustainability of their OCOP certification. This underscores the urgent need for producers to enhance product quality and gradually develop their OCOP products into strong, marketable brands.
