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Bank of Brazil considers opening branch in Vietnam
The Central Bank of Brazil (Banco do Brasil) would consider the opening of a branch in Vietnam in the future, the bank’s Regional General Manager for Asia operations, Admilson Monteiro Garcia, has said.
“In the future, Banco do Brasil will expand its branch network in Asia. For Vietnam at present, we still do not have any detailed plan, however, the opening of such a branch is completely possible,” the official told a Vietnam news agency reporter on the sidelines of the forum “Brazil-Vietnam: Building new partnerships” in Hanoi on July 10.
The unceasing increase of trade between the two countries in recent years and the two governments’ commitments for stronger bilateral economic ties are important factors for Banco do Brasil to consider the opening of its branch in Vietnam, the regional general manager said.
Additionally, businesses from both sides show their deep interest in entering market of each country. As many as 30 senior officials from 16 Brazilian leading companies, who are accompanying President Luiz Inacio Lula da Silva on a visit to Vietnam from July 9-10, have attended the forum.
Also at the forum, the Brazilian bank and the Vietnam Bank for Agriculture and Rural Development (Agribank) signed a Memorandum of Understanding (MoU) with the witness of Brazilian President Luiz Inacio Lula da Silva and Vietnamese Deputy Prime Minister Hoang Trung Hai.
Under the MoU, the two banks will exchange information and support the two countries’ businesses in their import and export activities, Garcia said, describing it as the first step of the two banks’ cooperation in the future.
VNA
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