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
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Luong Son district has identified 2025 as the year for the accelerated breakthrough to successfully implement the socio-economic development plan for the 5-year period from 2021 to 2025. The district has been focusing on executing the plans and trying to achieve a GRDP growth rate of approximately 15%.
Since the beginning of this year, under the direction of the Department of Agriculture and Environment, the Sub-Department of Agricultural, Forestry, and Fishery Product Quality Management has strengthened the integration of the professional activities to promote and guide the organizations and individuals in the production and trading of agricultural, forestry, and fishery products to comply with the legal regulations regarding the use of chemicals, pesticides and veterinary medicines in crop cultivation, livestock farming and aquaculture. They also provide guidance to processing and manufacturing establishments on keeping the records to trace the product origins and using food additives from the approved list according to the regulations.
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Ha Thi Ha Chi, a 26-year-old graduate in law, has taken an unconventional path by returning to her hometown in Mai Chau district to establish the Tong Dau Cooperative, creating stable jobs for local women and bringing Thai ethnic brocade weaving to the global market.
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