Qatar bank opens representative office in HCM City

Tuesday, Mar 31, 2015 17:11

QNB operates in more than 26 countries on three continents. — Photo

HCM CITY (Biz Hub) — The Qatar National Bank opened a representative office in Ho Chi Minh City on Monday with the stated objective of promoting trade between the two countries.

It will extend intermediary services in the field of investment and trade for Middle Eastern companies looking to establish businesses in Viet Nam and develop their investments in the country.

It will also facilitate Vietnamese companies' expansion into or investment in the Middle East.

The opening of the representative office is part of QNB's efforts to expand its network in key markets around the world, including Asia, under an international expansion strategy.

Viet Nam is one of the fastest growing emerging markets with its growth rate reaching 6 per cent last year. It is expected to sustain the growth rate in 2015 and to become the 17th largest economy on the planet by 2025.

In addition, its banking industry is considered one of the fastest growing in the region thanks to advantages like a rapid increase in the number of users, solid trade surplus, booming tourism and large amounts of private remittances.

QNB operates in more than 26 countries on three continents. It was recently rated "the Best Bank Brand by Value in The Middle East and Africa" by Brand Finance and "One of the World's Top Safest Banks" by Global Finance last year. — VNS

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