Vietnam Social Sciences, S. 5 (2017)

Cỡ chữ:  Nhỏ  Vừa  Lớn

Policy of Openness for Foreign Banks in Vietnam


Tóm tắt

Since Vietnam joined the World Trade Organisation (WTO), the country has been implementing an extensive open door policy in the banking sector, allowing 100% foreign-owned banks to be established in Vietnam and encouraging domestic banks to seek foreign strategic investors to raise the capital, improve the technologies and better the risk management. The process has gained positive results, with the rapid increases in the number of 100% foreign-owned and joint-venture banks, and the increasing international competition and cooperation among the banks in the country. However, the increasing penetration of foreign banks in line with the roadmap for openness following free trade agreements signed has been posing a number of challenges for domestic ones, namely the amounting pressure of competition in the sector, the possibility that domestic banks will gradually lose important segments of the market, being acquired and controlled by foreign ones.

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Vietnam Social Sciences, ISSN: 1013-4328