According to statistics from the Ministry of Planning and Investment, Vietnam recorded a total registered foreign direct investment (FDI) of over $18 billion in the first seven months of 2024, with realized capital reaching approximately $12.5 billion, an increase of 8.4% compared to the same period last year, the highest in the past five years.
With the diverse needs of multinational manufacturers to optimize their supply chains, along with Vietnam’s stable socio-political foundation, skilled labor force, and favorable investment environment, FDI into Vietnam in 2024 is expected to continue its upward trajectory. FDI enterprises are considered a bright spot and an essential driver for the recovery of Vietnam’s economy this year. A survey revealed that 70% of FDI businesses currently operating in Vietnam plan to expand their production and operations. This, coupled with the entry of new FDI enterprises, presents a valuable opportunity for Vietnamese banks to forge partnerships and provide financial services and solutions.
When it comes to banking services for FDI enterprises, foreign and multinational banks, or banks from the home countries of the FDI enterprises, used to be the preferred choice. However, this trend is gradually changing. With their deep understanding of the local landscape, market, culture, and people, as well as their extensive branch networks, Vietnamese domestic banks are now well-positioned to become trusted partners for FDI enterprises investing and operating in Vietnam. This is especially true for medium-sized FDI enterprises with operations spanning multiple provinces, as they can greatly benefit from collaborating with a local bank.
A notable example is SHB, a bank of choice for many FDI enterprises entering Vietnam. With a network of 571 branches and transaction offices nationwide and a profound understanding of the economic and cultural landscape in each province, SHB is well-equipped to support FDI enterprises with capital and business connections.
Currently, the bank maintains cooperative relationships and provides products and services to FDI customers from various countries and territories, including Japan, South Korea, and China. Many of these customers are enterprises in the industrial equipment, processing, manufacturing, and transportation industries.
SHB’s leadership representative affirmed that, with a consistent customer-centric and market-centric orientation, the bank always strives to understand and accompany FDI enterprises throughout their journey in Vietnam. At each stage of development, SHB tailors its products and solutions to meet the unique needs and operating models of these enterprises. The bank has also built a professional team with financial expertise and multilingual capabilities to better understand and support its customers. SHB is committed to providing financial and banking solutions and assisting FDI enterprises with legal hurdles during their investment journey in Vietnam.
At present, SHB offers a package of products with attractive service fee discounts, including free domestic payments, up to 90% reduction in international outgoing transfer fees, up to 75% discount on import L/C fees, and waivers or reductions on various international payment fees. These benefits help enterprises optimize their costs and efficiently manage their cash flow.
In their business operations, SHB accompanies enterprises by providing working capital financing at preferential interest rates and payroll services with fee privileges. Additionally, SHB Corporate Online, coupled with the bank’s digital solutions, serves as a powerful tool for customers to manage their cash flow, govern their business operations, and conveniently conduct foreign exchange transactions at any time.
Furthermore, SHB has launched multiple credit packages with competitive interest rates and flexible mechanisms, such as a $10,000 billion VND package for manufacturing enterprises, a $1,000 billion VND package for enterprises seeking auto loans, and a $50 million USD credit package for import-export enterprises with interest rates starting from 4.5%/year and waivers or reductions on 66 types of service fees.
SHB also offers a range of attractive account opening and preferential policies for employees of FDI enterprises, including credit card issuance and unsecured loans with credit limits up to 20 times their income, totaling up to $500 million VND. Additionally, they enjoy free SMS notification services and ATM withdrawal fee waivers.
As one of the TOP 5 largest joint-stock commercial banks in Vietnam, SHB is always ready with abundant resources and capital to support enterprises, including FDI enterprises.
Accompanying Sustainable Development and Channeling Green Capital
Vietnam is an attractive destination for FDI in the ASEAN region, drawing particular interest from major European investors, especially as the green transition trend gains momentum. Notable examples include the LEGO Group from Denmark, which has invested over $1 billion in a carbon-neutral factory in Vietnam, and Adidas from Germany, which is implementing a carbon emission reduction strategy. This, in turn, requires Vietnamese enterprises—as suppliers and manufacturers—to embrace sustainable development goals.
It is anticipated that green FDI from European countries will continue to grow. This trend is affirmed by the EuroCham Business Climate Index survey, which revealed that 31% of its members ranked Vietnam among the top three global investment destinations.
In alignment with the government’s National Strategy for Green Growth, SHB collaborates with leading global financial institutions such as the World Bank, IFC, ADB, and KfW to channel capital towards green energy and clean agriculture projects, supporting enterprises in their green transition journey and contributing to the greening of the economy. Additionally, SHB facilitates business partnerships and fosters connections between domestic enterprises and FDI enterprises, creating supply chains and linkages in production and business operations.
In its 2024–2028 Transformation Strategy, SHB sets strategic goals to become the TOP 1 bank in terms of efficiency, the most favored Digital Bank, the Best Retail Bank, and a leading provider of capital, financial products, and services to strategic private and state-owned enterprises with supply chains, value chains, and ecosystems, promoting green development.
SHB is committed to a comprehensive and robust transformation, focusing on four pillars: reforming mechanisms, policies, regulations, and processes; empowering its people; placing customers and the market at the core; and modernizing information technology and digital transformation. The bank steadfastly upholds its six core cultural values of “Heart – Trust – Integrity – Intelligence – Wisdom – Vision.”
With over 30 years of accompanying the people and the country, SHB is steadily progressing towards sustainable development, strengthening its foundation, enhancing service quality, and modernizing technology to best meet the needs of its customers and deliver optimal financial solutions.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
