VietNamNet Bridge – Foreign banks in Viet Nam appreciated the government's responses to the East Sea tensions, which helped them stay calm and confident, according to the State Bank of Viet Nam (SBV).

In a meeting between the central bank and foreign banks, Industrial and Commercial Bank of China (ICBC)'s representative reported that the Government's actions towards the East Sea tensions were proper, giving them more confidence in doing long-term business in Viet Nam.

Australian and New Zealand Banking Group (ANZ) praised the stability of Viet Nam's monetary system. Although the territorial disputes in the East Sea had been of concern to investors and had interrupted some small businesses, the government controlled the situation well and businesses were recovered.

A representative of Industrial Bank of Korea (IBK) noted that their branches in Ha Noi and HCM City will keep promoting investment, scale up businesses and go ahead with their long-term strategies in Viet Nam.

Central bank's Governor Nguyen Van Binh affirmed that despite the disputes in the East Sea, Viet Nam's monetary system was functioning normally without errors or disruption.

The government had already instructed the SBV to provide solutions to secure the system and assets of foreign credit institutions in Viet Nam.

"This indicates that our system is becoming stronger and more resilient against external shocks," Binh noted.

Source: VNS