Deputy Prime Minister Vuong Dinh Hue (R) and CEO of Lotte Card Kim Chang-kwon (Source: VNA) Hanoi (VNA) – The Vietnamese Government is supportiveof Lotte group’s expansion into business fields of strength, including consumerfinance, Deputy Prime Minister Vuong Dinh Hue assured Chairman and CEO of theRepublic of Korea (RoK)’s Lotte Card Kim Chang-kwon during a reception in Hanoion September 6.
Hue said the Vietnamese Government is keen to improveconsumer finance via fintech and mobile payment technologies, contributing to thepromotion of cashless payment.
He also called attention to retail, including bringing more Vietnameseproducts to Lotte’s shopping malls, especially those under the “One Commune,One Product” programme.
The host said that Vietnam wants to build an ecologicalsystem for fintech and mobile payment systems, such as with the legal policyframework which is currently being studied by the State Bank of Vietnam (SBV), theMinistry of Finance, and the Ministry of Justice.
The Government welcomes Korean firms to share experience inthe field which would be helpful to not only Vietnamese firms, but also other foreigncompanies operating in the country, including those from the RoK, he said.
He informed his guest that the Vietnamese Government isdirecting the SBV to review the restructure of financial and credit system.
Hue said that if any difficulties arise during Lotte Card’spurchase of Techcombank’s financial company, it could report to the PM in orderto be assisted with favourable conditions for its operations.
Kim, for his part, said since its operations in Vietnam in1996, Lotte Corporation now has 18 companies in Vietnam with nearly 16,000employees, 308 points of sale and shops. In late 2017, Lotte earned 1 billionUSD in revenue.
In Vietnam, Lotte Card now has about 1.5 million clients insupermarkets and shopping centres. The purchase of Techcombank’s financialcompany will make it easier for Lotte Card to grow, he said.
With years-long experience in finance and credit, Lotte Cardwants to contribute its experience to Vietnam’s development regarding paymentvia cards and mobile phones, fintech, findata, and doing business on digitalplatform, he said. –VNA
Hue said the Vietnamese Government is keen to improveconsumer finance via fintech and mobile payment technologies, contributing to thepromotion of cashless payment.
He also called attention to retail, including bringing more Vietnameseproducts to Lotte’s shopping malls, especially those under the “One Commune,One Product” programme.
The host said that Vietnam wants to build an ecologicalsystem for fintech and mobile payment systems, such as with the legal policyframework which is currently being studied by the State Bank of Vietnam (SBV), theMinistry of Finance, and the Ministry of Justice.
The Government welcomes Korean firms to share experience inthe field which would be helpful to not only Vietnamese firms, but also other foreigncompanies operating in the country, including those from the RoK, he said.
He informed his guest that the Vietnamese Government isdirecting the SBV to review the restructure of financial and credit system.
Hue said that if any difficulties arise during Lotte Card’spurchase of Techcombank’s financial company, it could report to the PM in orderto be assisted with favourable conditions for its operations.
Kim, for his part, said since its operations in Vietnam in1996, Lotte Corporation now has 18 companies in Vietnam with nearly 16,000employees, 308 points of sale and shops. In late 2017, Lotte earned 1 billionUSD in revenue.
In Vietnam, Lotte Card now has about 1.5 million clients insupermarkets and shopping centres. The purchase of Techcombank’s financialcompany will make it easier for Lotte Card to grow, he said.
With years-long experience in finance and credit, Lotte Cardwants to contribute its experience to Vietnam’s development regarding paymentvia cards and mobile phones, fintech, findata, and doing business on digitalplatform, he said. –VNA
VNA
