Standard Chartered Signs MOUs with Clients to Jointly Explore Business Opportunities in Vietnam - Hong Kong Corridor

Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered Hong Kong”) announced that it has signed Memorandums of Understanding (“MOU”) with Kingboard Holdings Limited (“Kingboard”), Computime Group Limited (“Computime”), and Stavian Group Joint Stock Company (“Stavian Group”) to explore in each respective case business opportunities between Hong Kong and Vietnam.

The MOUs were signed by Mary Huen, CEO, Hong Kong, Standard Chartered, and the senior leaders of the three corporates in Ho Chi Minh City, Vietnam last week, when Mary was taking part in the high-level business delegation led by John Lee, Chief Executive of the Hong Kong Special Administrative Region to promote business ties between Hong Kong and the Association of Southeast Asian Nations (“ASEAN”).

Both Kingboard and Computime are Hong Kong-based corporates. Kingboard is one of the world’s largest laminate manufacturers, while Computime is a technology, brand and manufacturing company for smart and sustainable living. The MOUs will capitalise on Standard Chartered Hong Kong’s wide-ranging financial solutions including financing, treasury services and sustainable finance advisory, to help the two corporates expand business and production lines in Vietnam. On the other hand, Stavian Group is a Vietnam-based multinational corporation, operating large-scale industrial manufacturing and commercial activities, most notably chemical and petrochemical production and distribution. Through the MOU, Standard Chartered Hong Kong will help it explore the opportunities in Guangdong-Hong Kong-Macau Greater Bay Area and other markets in China.

Nguyen Thuy Hanh, Deputy General Director, Head of Corporate and Investment Banking, Vietnam, Standard Chartered, said, “With Standard Chartered’s deep roots in Vietnam for 120 years, we are well-positioned to help foreign businesses and investors to explore this dynamic market as the world continues to look for supply chain diversification. While we are thrilled to welcome Hong Kong businesses to come and invest in the manufacturing capabilities of Vietnam, we are also keen on working with our colleagues in Hong Kong to help our Vietnamese clients ride on Hong Kong’s role as a super-connector to access the multitude of opportunities in Mainland China.”

Mary Huen, CEO, Hong Kong, Standard Chartered, said, “Standard Chartered is the only international bank that has a presence in all the 10 member countries of ASEAN. We are glad to participate in this Hong Kong delegation to promote the business ties between Hong Kong and ASEAN, and to sign MOUs with our clients – Kingboard, Computime and Stavian Group, so as to ride on the bank’s robust local and cross-border banking services to help them seize the rising opportunities in the Hong Kong-Vietnam corridor. Vietnam is one of the fastest growing economies in ASEAN. I look forward to working closely with my colleagues there to support clients’ business growth in this trade corridor and beyond.”

Lê Hiền (Vietnam Business Forum)