HSBC Vietnam investigates investment environment in Dong Nai

Vice Chairman of Dong Nai provincial People’s Committee Dinh Quoc Thai is receiving representatives of HSBC Vietnam

(ĐN)- Chairman Vo Van Mot and Vice Chairman of the People’s Committee of Dong Nai province Dinh Quoc Thai recently hosted Alain Cany, HSBC’s Vietnam-based president and chief executive officer and Joshua Matthews, HSBC’s Hong Kong financial director during their visit to Dong Nai to learn about investment opportunities.

At the reception meeting, the provincial leaders said that Dong Nai needs assistance to develop its infrastructure including roadways, utilities, and water treatment and so on and the total investment is required to be around VND 30,000 billion for Dong Nai’s urgent projects in period 2006-2010.

Representatives of Hong Kong and Shanghai Banking Corp (HSBC) Vietnam said that starting operations in Vietnam in 1870, HSBC is the country’s biggest foreign bank regarding investment capital, transaction networks, the number of staff and clients. They told that a number of investment projects have been implemented with the HSBC financial contribution over the past years and the bank has carried out most of their cooperation at the government level. They also said it is their first time to be engaged in financial investment activities at the provincial level. Mr. Alain Cany said at the meeting with the provincial leaders that HSBC Vietnam needs time to collect information from Dong Nai province in order to provide suitable advisory and financial support that will benefit the province’s development. He also stressed the need for Dong Nai to provide incentives that would help attract capital investment.

Reported by Kim Loan