Dutch bank okayed to open representative office in Vietnam

The State Bank of Vietnam, the country’s central bank on Wednesday released Document No 106/GP-NHNN approving Netherlands’ ING Bank N.V, headquartered at Bijlmerplein 888, 1102 MG Amsterdam, to open a representative office in Vietnam.

The office is named ING Bank N.V. – Hanoi Representative Office with the operation time of 5 years.

It has functions as a contact office, marketing research, promoting investment projects of ING Bank N.V. in Vietnam, strengthening and watching implementation of contracts and agreements signed between its parent bank and Vietnamese companies.

The representative office is not allowed to do business and profitable services in Vietnam under any form.

Within 12 months as from being licensed, the office of ING Bank N.V. in Vietnam must finalize all necessary procedures and inaugurate operation. After the deadline without operation, the license will expire. – Vietbiz24

Posted by VBN on May 19 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry