Bank of China Branch in Vietnam Get Approval to Raise Cap to $50Mtinname
Update : Feb 12, 2010
The State Bank of Vietnam, the country’s central bank, has approved Bank of China’s Ho Chi Minh City-based branch to raise its registered capital to $50 million from the current $15 million.
The Chinese bank’s branch was licensed to operate in Vietnam in 1995, the SBV said on its website.
Until January of 2010, Industrial and Commercial Bank of China, the world’s biggest bank by market capitalization, became the second bank that is licensed to open its office in Vietnam.
At end-2009 Chinese firms had invested in 800 projects capitalized at $3 billion in Vietnam and two-way trade exceeded $20 billion.
Update : Feb 12, 2010
The State Bank of Vietnam, the country’s central bank, has approved Bank of China’s Ho Chi Minh City-based branch to raise its registered capital to $50 million from the current $15 million.
The Chinese bank’s branch was licensed to operate in Vietnam in 1995, the SBV said on its website.
Until January of 2010, Industrial and Commercial Bank of China, the world’s biggest bank by market capitalization, became the second bank that is licensed to open its office in Vietnam.
At end-2009 Chinese firms had invested in 800 projects capitalized at $3 billion in Vietnam and two-way trade exceeded $20 billion.