Oleh/By		:	DATO' SERI DR. MAHATHIR BIN MOHAMAD 
Tempat/Venue 	: 	HANOI, VIETNAM 
Tarikh/Date 	: 	21/04/92 
Tajuk/Title  	: 	THE OPENING CEREMONY OF VID 
			PUBLIC BANK 




 Your Excellencies,
Distinguished Guests,
Ladies and Gentlemen,
    I  am  delighted  to be here in this historical city of
Hanoi to officiate the opening of the VID Public  Bank,  the
first  Vietnamese-Malaysian  joint  venture bank between the
Bank for Investment and Development of  Vietnam  (BIDV)  AND
Public  Bank  Berhad of Malaysia.   The success of this ven-
ture, I am sure, will form the springboard  for  many  other
similar  business  partnerships to come and pave the way for
the promotion of a strong  Malaysian  business  presence  in
Vietnam.
2.   The  establishment  and nurturing of a strong and mutu-
ally  reinforcing  Malaysian  relationship  with  the  Indo-
Chinese  countries  is  timely  and  augurs    well  for the
reconstruction process of these countries.  As a  member  of
Asean,  Malaysia is more than happy to be of assistance, es-
pecially in areas of technical know-how and expertise in de-
velopment which it had acquired during the  process  of  its
own development.  A rapidly developing Vietnam would be ben-
eficial for the concept of Asean to succeed.
3.   On  the  international front, a gradual shift is taking
place in the global trading patterns, and as competition in-
tensifies, the need to  develop  new  markets  becomes  more
pressing.    Asian  countries  have the potential to develop
into mutually supportive markets especially as peace has now
returned after decades of war and foreign  oppression.    In
tandem  with  this development, it is vital to have a strong
platform for neighbouring South-East Asian countries to work
together to exchange views and deliberate on  pertinent  is-
sues  that are common to us.  In this regard, the East Asian
countries should strive for economic regional  co-operation.
The  East  Asia  Economic  Caucus would provide an excellent
framework to achieve this objective.
4.   For an emerging nation that is  determined  to  develop
its economy, vast amounts of resources are needed to finance
the  building of infrastructural facilities and private pro-
ductive enterprises.   While foreign investments  provide  a
valuable  source  of  funds, it is crucial that all domestic
resources are effectively mobilised for  productive  deploy-
ment  in  the  economy.    Banks  have  an important role in
mobilising savings and deploying them for the development of
the country.  Indeed, our experience in  Malaysia  has  con-
vinced  us  that  an  efficient banking system is the key in
providing the linkages between domestic savings and the  in-
vestment  needs  of businesses.  They also provide trade fi-
nancing to  facilitate  the  import  and  export  of  goods.
Without  a  sound and efficient commercial banking sector, a
nation's economic development would be hampered and business
opportunities, particularly international trade, retarded.
5.   The potential for development and expansion of  banking
and  financial  services in Vietnam looks bright.  Given the
Government's renovation and  reconstruction  programme,  and
with  the  improved investment climate for domestic and for-
eign  enterprises,  businessmen  and  investors,   including
Malaysian  firms,  will  be  attracted  to  set  up bases in
Vietnam.   A well-developed commercial  banking  sector,  in
turn,  will provide the impetus for greater economic growth,
bringing with it higher gains for the host country  and  its
people.
6.   The  Malaysian Government and I am sure, the Vietnamese
Government as well, are delighted to see the successful  es-
tablishment  of  VID Public Bank today.  Given its track re-
cord and strong management expertise in  commercial  banking
and  financial  services,  and with the full cooperation and
assistance of BIDV, Public Bank Berhad  should  be  able  to
make  this  joint  venture  a great success, and a credit to
Malaysia.  On behalf of the Malaysian Government,  I  should
take  this  opportunity  to congratulate the board of direc-
tors, management and staff of VID Public Bank on their joint
efforts for launching this joint venture bank.   I wish  the
management a successful and prosperous business venture.  On
this  note,I  now  have great pleasure in declaring open the
VID Public Bank here in Hanoi.

 
 



 









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