Banking & Finance

The Industrial Bank of Korea (IBK)'s Vietnam subsidiary has been licensed to establish a wholly foreign-owned, locally incorporated bank.

This downward shift not only highlights the current challenges facing the Vietnamese economy but also presents new opportunities for strategic adjustments and sustainable development.

Domestic prices remaining significantly higher than global levels, with a gap of about VND16.56 million (roughly $629) per tael (roughly 1.2 ounces).

Launched late last year, the task now for Vietnam’s International Finance Center in Ho Chi Minh City is to ensure it is set up to deliver on its objectives.

The results highlighting intensifying competition as the gap between leading banks and their challengers continues to narrow.

A fintech and regtech cooperation programme between the two countries is gaining traction as both work to support the development of a robust legal and institutional foundation for Vietnam's International Financial Centre.