Maybank Ho Chi Minh was officially opened as the second Maybank Branch in Viet Nam with a special reception held in Ho Chi Minh City January 2006. Tan Sri Mohamed Basir bin Ahmad, Chairman of Maybank officiated the event, which was witnessed by Encik Zainal Hamzah, Consul General of Malaysia in Ho Chi Minh City.
Maybank established its presence in Viet Nam with a branch office in the capital city of Hanoi in 1995. In 1996, a representative office was opened in Ho Chi Minh City. Following approval from the State Bank of Viet Nam last year, the Maybank Ho Chi Minh City branch commenced operation in October 2005.
“Since obtaining full branch status, we have increased support for enterprises operating in Southern Vietnam, mainly in manufacturing, construction/infrastructure and trading. Customers also have access to other banking facilities including Term Loans and Revolving Credit, Project Financing, Enterprise Accounts, Trade Financing and Advisory Services as well as Treasury and Foreign Exchange. A Foreign Worker Telegraphic Transfer scheme to help Vietnamese workers abroad to remit money home is also being planned,” said Tan Sri Mohamed Basir.
He said that Vietnam’s impressive GDP growth rate of 8.4 percent in 2005 indicates more prospects for growth in the new year. Regional consensus indicates Viet Nam to be ASEAN’s rising star in 2006 and Maybank understands the government is continuing initiatives towards achieving higher growth for the nation, among which are a new 5-year socio-economic development plan and public administration, economic and legal reforms to promote investments and global integration. Such programmes will provide many opportunities for businesses and create demands for more investment and financial resources.
