On April 27, 2023, in Hanoi, Deputy Governor Pham Thanh Ha of the State Bank of Vietnam (SBV) had a meeting with Mr. Masahiko Kato, President & CEO of Mizuho Bank, Ltd.
An overview of the meeting
At the meeting, Deputy Governor Pham Thanh Ha warmly welcomed the working visit of Mr. Masahiko Kato and representatives of Mizuho Bank, Ltd. – Hanoi branch to the SBV, especially in light that the year 2023 will mark the 50th anniversary of the establishment of the diplomatic ties between Japan and Vietnam. The SBV Deputy Governor expressed his hope and beliefs that the cooperative relations between the two countries would develop more robustly, especially between the two banking sectors and between the two largest commercial banks of the two countries, namely Vietcombank and Mizuho Bank, Ltd.
Deputy Governor Pham Thanh Ha speaks at the meeting
Sharing about the orientations of the SBV’s monetary policy management, Deputy Governor Pham Thanh Ha said that, over the past ten years, the Government of Vietnam, together with the relevant Ministries and agencies, including the SBV, have always given the top priority to the goals of controlling the inflation, maintaining the macro-economic stability, supporting the economic growth, and ensuring safe and sound banking operations. The SBV Deputy Governor emphasized that the maintenance of the macro-economic stability would help to create the attractiveness of Vietnam’s business and investment environment, and it is also a solid foundation for the future development.
The SBV Deputy Governor hoped that from his role as Chairman of the Japanese Bankers Association, Mr. Masahiko Kato would disseminate the message of the Government of Vietnam about the market management and the macro-economic policy to the authorities as well as the Bank of Japan.
About the operations of Mizuho Bank, Ltd. in Vietnam, Deputy Governor Pham Thanh Ha assessed that currently the two branches of Mizuho Bank, Ltd. in Hanoi and Ho Chi Minh city have been operating with good performance results. The investment that Mizuho Bank, Ltd. has made into its strategic partner, i.e. Vietcombank, has also proven to be a good decision, bringing benefits not only to the two banks but also to their customers.
Mr. Masahiko Kato, President & CEO of Mizuho Bank, Ltd., speaks at the meeting
For his part, Mr. Masahiko Kato, President & CEO of Mizuho Bank, Ltd., spoke highly of the SBV’s policies to maintain the macro-economic stability and asserted that this is the factor that all Japanese investors would be interested in when making their investment decisions. He also emphasized that Mizuho Bank, Ltd. would always support this policy of the SBV.
With his experience from working in Vietnam, Mr. Masahiko Kato wished to be able to further contribute to the economic development and the bilateral relations of the two countries, and expressed his hope to receive further support from the Vietnamese authorities to address the issues that Mizuho Bank, Ltd. has been facing in Vietnam, including the sustainable development of credit. From his role as Chairman of the Japanese Bankers Association, Mr. Masahiko Kato confirmed that he would proactively discuss with the Bank of Japan and raise ideas about possible support policies for the partner countries of Japan, including Vietnam.
Mr. Masahiko Kato also shared that, over the past year, the two branches of Mizuho Bank, Ltd. in Hanoi and Ho Chi Minh city have achieved encouraging performance results. The partnership between Mizuho Bank, Ltd. and Vietcombank has also achieved positive results and has been extended to cover various areas. He asserted that Mizuho Bank, Ltd. would continue to enhance its business operations in order to contribute more to the development of Vietnam’s economy.
Le Hang