First Vietnamese-invested bank in Russia

The Governor of the State Bank of Vietnam on August 14 approved the Vietnam-Russia Joint Venture Bank’s plan to establish its wholly owned bank in Russia with a charter capital of US$8 million.

The Ministry of Planning and Investment said this is the first Vietnamese-invested banking project getting underway overseas.

There are so far 15 Vietnamese-invested projects in Russia so far with a capitalization of US$200 million.

By the end of July, Vietnamese businesses invested a total of US$2.5 billion in 317 projects abroad, according to the Ministry of Planning and Investment.

Most of these projects have been engaged in the industrial, construction, service and agricultural sectors, the ministry said.

VOV

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