Standard Chartered Bank (Vietnam) Limited has launched the Taiwan Desk as part of its Origination and Client Coverage offering for Wholesale Banking clients.
The launch of the Desk is supported by the growing trade flows between Vietnam and Taiwan and the large presence of Taiwanese corporates in Vietnam. In 2008, Vietnamese exports to Taiwan were in excess of USD 1.4 billion while imports from Taiwan were over USD 8.3 billion. The investment in Vietnam by Taiwanese companies was over USD 8,6 bn in 2008, with Taiwan ranking second in terms if Foreign Direct Investment (FDI). There are also presently 2,000 Taiwanese corporates in Vietnam.
In addition to dedicated relationship management and mandarin-speaking staff, the Desk will also offer the full package of Wholesale Banking products and services of the Bank. Standard Chartered Bank believes the Desk will be a catalyst to draw Taiwanese investment to Vietnam and will also deepen relationships with existing and new Taiwanese clients operating in Vietnam.
“This new initiative is in line with our aim to be the right partner for Taiwanese corporates in Vietnam and Taiwan. With Standard Chartered Banks deep local knowledge, global expertise and capabilities, we are well positioned to serve the growing and diverse financial needs of clients in both countries,” says Jerry Ngo, managing director and head of Origination and Client Coverage, Vietnam, Laos and Cambodia, Standard Chartered Bank.
L.D.