HSBC expands operations in Vietnam

News - Hong Kong-Shanghai Banking Corporation (HSBC) Vietnam Ltd opened its representative office in Haiphong port city on February 16 in an effort to increase its market share in Vietnam.

Sumit Dutta, CEO of HSBC Vietnam, said Haiphong is one of the most dynamic places in term of both investment and industrial production in Vietnam. He expressed his wish to support local businesses in promoting their operations and using HSBC Vietnam’s products and services.

Haiphong now has 316 foreign-invested projects with a total capitalization of more than US$4.89 billion. The city plans to build an industrial zone covering an area of 1,000 hectares for Japanese investors and a new seaport to receive larger container ships.

HSBC Vietnam’s representative office in Haiphong will keep contact with customers, carry out market research, promote new investment projects, and monitor the implementation of contracts and agreements between HSBC Vietnam and local businesses and organizations.