N M Rothschild & Sons Ltd. Of Singapore to open Rep Office in Hanoi

The Governor of the State Bank of Vietnam (SBV) issued License No.80/GP-NHNN on April 13 to allow the N M Rothschild & Sons (Singapore) Limited to open a Representative Office in Vietnam to be based in Hanoi. The license takes effect on the signing date.

Under this License, the Hanoi Representative Office of the N M Rothschild & Sons (Singapore) Limited is allowed to operate for the maximum duration of 5 years with such functions as being a liaison office in Vietnam, doing market research, accelerating the preparation of N M Rothschild & Sons (Singapore) Limited investment projects in Vietnam, speeding up and monitoring the implementation of contracts and agreements between the N M Rothschild & Sons Ltd and Vietnamese credit institutions and enterprises, and projects financed by the N M Rothschild & Sons (Singapore) Limited in Vietnam.

The Hanoi Office of the N M Rothschild & Sons (Singapore) Limited is forbidden to do business and profit-making services of any forms in Vietnam. In addition, the Office shall have to comply with the relevant Vietnamese laws, the Law on Credit Institutions, Decree No.22/2006/ND-CP of the Government dated February 28th 2006 on organization and operations of joint-venture banks and branches of foreign banks, wholly foreign-owned banks, foreign banks’ representative offices in Vietnam, and other relevant legal documents.

Diem Hang

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