Vietnam is in the process of restructuring its banking system along with ushering in legal reforms and improving business environments and the country’s government has invited participation of foreign investors in the process. The country’s central bank’s governor Le Minh Hung said he invites foreign investors to participate more actively in the restructuring of local banks. He said Vietnam’s banking system has recently completed a five-year restructuring program and is planning for another phase of overhaul. Vietnam now has seven wholly-owned foreign banks, as well as 50 branches and more than 50 representative offices of foreign banks and joint venture banks. In the first nine months of the current year, loans in the whole banking system expanded 10.64%.
