Oleh/By : DATO' SERI DR. MAHATHIR BIN MOHAMAD
Tempat/Venue : HANOI, VIETNAM
Tarikh/Date : 08/03/96
Tajuk/Title : THE OFFICIAL OPENING OF MAYBANK
HANOI BRANCH
I would like to thank the Management of Maybank
for inviting me to officially open its Hanoi branch
here today.
2. Vietnam is a country in this region which is
experiencing strong economic growth and will
definitely offer plenty of opportunities to
investors from Malaysia. Already, a number of
Malaysian organisations such as Petronas, Renong,
Faber Group, Malayan Flour Mills and Hualon
Corporation have invested in various sectors in
Vietnam.
3. With such interest and increase in trade and
investment, there will also be a demand for even
more banking services. In addition, the generous
tax concessions and duty exemptions have also
encouraged more new commitments in foreign direct
investments in Vietnam. Currently, Malaysia is the
seventh largest investor in Vietnam with 42
projects.
4. In this context, the setting up of Maybank
Hanoi branch is in line with the Malaysian
Government's policy to encourage the corporate
sector to expand their operations to the developing
countries, particularly in this region. It is
Malaysia's belief that by contributing to the growth
of these countries, Malaysia will benefit in many
ways.
5. Maybank is the largest commercial bank in
Malaysia, not only in terms of assets, shareholders'
funds and branch network, but also in terms of
profit. It is the first local bank in Malaysia to be
rated by Standard and Poors and Moody's rating
agencies and its strong ratings testify to the
financial strength of the bank.
6. I understand that Maybank has a wide network
with 236 branches in Malaysia. In addition, it has
22 branches in Singapore, two in Brunei and an
office each in New York, London, Hong Kong, Phnom
Penh, Jakarta, Port Moresby, Tashkent, Beijing and
Yangon. It is also Malaysia's largest banking group
involved in commercial banking, hire-purchase,
stockbroking, merchant banking, leasing, insurance,
factoring, trustee services, nominee service,
discount-house business, property trust fund
management, unit trust management and offshore
banking.
7. With such a background, Maybank can offer its
wide network and a range of services to customers in
Vietnam wishing to trade in Malaysia as well as in
the countries that it operates.
8. In addition, Maybank can also help promote
investment and trade in Vietnam to businessmen from
Malaysia and all over the world. In this way, the
bank can participate in the growth of Vietnam and
contribute to the promotion of ASEAN cooperation.
9. I wish Maybank every success in its operations
both here in Hanoi, as well as in Ho Chi Minh city
where I understand it will operate a representative
office. I hope its presence here will enhance
further Malaysia's ties with Vietnam, thereby
promoting regional peace and stability.
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