Services
Early July, as part of the official visit to South Korea by Prime Minister Pham Minh Chinh, nearly 350 South Korean businesses and 180 Vietnamese businesses and representatives from ministries and sectors of Vietnam attended the Vietnam-South Korea Business Forum. At the forum, delegates were introduced to Vietnam’s development situation; its potential, strengths, development priorities, and investment attraction; Vietnam-South Korea relations; Vietnam-South Korea investment and trade; and the potential and advantages of South Korean enterprises and their opportunities in the Vietnamese market.
“Make friends before doing business”
As one of the four main speakers at the forum, Mr. Luu Trung Thai, Chairman of the Board of Directors of MB, gave a speech on the topic of “Digital Transformation in the Financial Industry,” focusing on three main contents: Economy, Green Economy, and Circular Economy.
Mr. Luu Trung Thai, Chairman of the Board of Directors of MB, speaking at the Vietnam-South Korea Business Forum in Seoul
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Sharing the perspective of Vietnamese enterprises on investment opportunities for South Korean businesses, the leader of MB stated that enterprises from both countries need to find ways to quickly implement cooperation, based on two factors. The first is trust and cooperation, as the South Korean saying goes, “make friends before doing business.” The second is how to develop a value chain when there is a trend of shifting production from China to other countries. “We are ready to cooperate and identify reliable partners from the Vietnamese side,” said Mr. Thai.
In addition, in an interview with the Korea Herald of South Korea on July 2 in Seoul, the Chairman of MB stated that when enterprises come to invest in Vietnam and send Korean personnel to live and work in Vietnam, paying attention to providing care services for this group will also help them do business better. Therefore, from August 2024, MB will launch the Korean language on its banking application to bring more convenience to the Korean community in Vietnam.
“Vietnamese banks have not yet provided specialized services for Koreans living in Vietnam, making them dependent on branches of Korean banks. Noting the increasing number of Korean citizens and companies entering Vietnam, from August, MB will provide more suitable services for the Korean community by launching a Korean-language banking application,” shared the Chairman of MB.
The partnership between MB and POSCO International
Also, at the Vietnam-South Korea Business Forum, under the witness of Prime Minister Pham Minh Chinh, the Military Commercial Joint Stock Bank (MB) and POSCO International signed a strategic cooperation agreement. At the same time, Prime Minister Pham Minh Chinh, along with senior leaders of Vietnam, and the MB delegation led by Chairman Luu Trung Thai, had an in-depth working session with the Chairman of POSCO Group.
Representatives of MB and POSCO at the signing event.
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Accordingly, Prime Minister Pham Minh Chinh highly appreciated the investment and business activities of the POSCO Group in Vietnam through the effective operations of its member companies. At the same time, the Prime Minister welcomed the group’s expansion of investment and activities in Vietnam towards green development, promoting the circular and digital economy.
At the meeting, Mr. Chang In Hwa, CEO of POSCO Group, said that POSCO is among the top five businesses in South Korea in the fields of steel, energy, trade, and electric vehicle (EV) battery materials…; the group’s revenue in 2023 reached 59 billion USD. In Vietnam, POSCO has established four branches in the steel industry, with a total investment of 1.8 billion USD. POSCO hopes to continue expanding its cooperation and investment in Vietnam in some new fields. At the same time, it wants to convert the dedicated port it is using in Vietnam into a commercial port and be allowed to invest in an LNG power plant in the country.
Sharing more about the strategic cooperation with POSCO, Mr. Luu Trung Thai, Chairman of the Board of Directors of MB, affirmed that this cooperation not only demonstrates the ability to conquer South Korea’s “giants” but also continues to open up many cooperation and business investment opportunities for MB and other partners from both countries.
Maximum support for the success of South Korean enterprises investing in Vietnam
Previously, when sharing with the press about MB’s orientation in accompanying and supporting South Korean enterprises investing in Vietnam, Mr. Vu Thanh Trung, Vice Chairman of the Board of Directors, said that providing products and services to maximize the success of FDI enterprises in general and the group of South Korean enterprises in Vietnam, in particular, plays a very important role in MB’s business policies.
“To bring success to Korean FDI enterprises, especially in Vietnam, MB has built many product and service packages, as well as platforms to help enterprises succeed in investing and doing business in Vietnam. On the business side, we are building very strong digital applications/platforms based on the most advanced technologies to help enterprises manage their investment activities well when investing in Vietnam. Reporting, analysis, and specialized risk reduction systems are also available on digital platforms for businesses,” said Mr. Trung.
In addition, MB also hopes to cooperate with Korean credit institutions to expand the QR code payment system in Vietnam.
“If we connect the upcoming MBBank App for Koreans with Korean banks, Koreans coming to Vietnam will be able to use our QR code system through their bank’s application. We are currently looking for partners,” shared Mr. Trung.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
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Accelerating disbursement of the 120 trillion VND credit package for social housing
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“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.
