HSBC Arranges $12 Billion in Sustainable Development Financing in Vietnam

HSBC Group Chairman Mark Tucker visited Vietnam during the year Vietnam and the UK celebrated the 50th anniversary of the establishment of diplomatic relations. The Prime Minister highly appreciated the support and contributions of HSBC Group as well as HSBC Bank to the development of the banking and financial sector in particular and the Vietnamese economy in general.

The Prime Minister highly appreciated HSBC's proactive coordination with the Ministry of Planning and Investment to attract and support international investors in the process of shifting and expanding investment in Vietnam, participating in the Government's programs to promote economic development. Vietnam highly appreciated HSBC's commitment to arranging capital of up to 12 billion USD to finance sustainable development in Vietnam by 2030, and to date, 14% of this capital has been disbursed.

Prime Minister Pham Minh Chinh highly appreciated the support and contributions of HSBC Group and HSBC Bank to the development of the banking - financial sector and Vietnam's economy . Photo: Chinhphu.vn

The Prime Minister suggested that the two sides maintain and strengthen cooperation in the spirit of harmonious benefits and shared risks, especially in emerging areas such as green transformation, digital transformation, circular economy, sharing economy, innovation, etc., contributing to fostering the friendly and effective cooperation between Vietnam and the UK.

The Prime Minister asked HSBC to actively support Vietnam in terms of institutions, human resources, governance, technology and capital, implementing infrastructure projects, sustainable energy transition in particular, and green projects in general, helping Vietnam fulfill its commitments to respond to climate change, achieve zero net emissions by 2050, promote green growth drivers, sustainable development; cooperate to promote the development of digital banking, participate in restructuring the banking system, etc.

Working session scene. Photo: Chinhphu.vn

HSBC Group Chairman Mark Tucker said that after 35 visits to Vietnam, he has a very good impression of the country, its people, its rapid development achievements and its bright future.

He highly appreciated Vietnam's handling capacity and right direction in global issues such as overcoming the COVID-19 pandemic, responding to climate change, reducing emissions, achieving the goal of overcoming the middle-income trap and national development goals.

With the desire to contribute to telling Vietnam's success story to the world, Mr. Mark Tucker affirmed that HSBC will continue to do business long-term, stay committed and make positive contributions to the Vietnamese market, especially in the areas that the Prime Minister has commented on.

HSBC is one of the largest banks in the world, with nearly 220,000 employees in 64 countries, serving more than 40 million customers worldwide. HSBC's famous brand is "The global bank with local knowledge".
In Vietnam, HSBC established its first office in Saigon in 1870; established Ho Chi Minh City Branch in 1995 and established a 100% foreign-owned bank in 2009.

According to Chinhphu.vn

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