Standard Chartered’s Group CEO Bill Winters has affirmed strong commitment to Vietnam. Photo: Reuters
will continue to invest in Vietnam to capture the opportunities that the market offers and to drive trade, investment and the creation of wealth in the country, the bank’s Group Chief Executive Officer Bill Winters has said during his first official visit to the country.
“Vietnam is an attractive emerging market driven by its young and dynamic population and increasing integration into the global economy,” Winters said, noting that the bank’s long presence in the country and deep local knowledge put it in an ideal position to facilitate Vietnam’s growth.
During his trip, Winters met with Vietnamese government and business leaders to exchange views about Vietnam’s investment opportunities and economic potential.
Standard Chartered opened its first Vietnam branch in Ho Chi Minh City
in 1904 and set up its locally incorporated entity, Standard Chartered Bank (Vietnam) Limited in 2009.
It has been the sole sovereign credit ratings advisor to the Vietnamese government since 2012.
Standard Chartered Private Equity (SCPE), the bank’s private equity arm, in March invested $25 million in M_Service Company, the owner mobile payment app MoMo
. The fund also owns an 11% stake in local agribusiness Loc Troi Group, formerly known as An Giang Plant Protection Co.