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VN set to embrace mobile banking

vietnambusinesstimes -Most banking transactions in Viet Nam, around 80 per cent, will be one through mobile devices in the next five years, says Le Thanh Tam, CEO of International Data Group (IDG) ASEAN.

Tam, who is also CEO of IDG Global Solutions Vietnam and MRD Joint-stock Company, told the Vietnam Financial Times that Internet banking services will rank second behind mobile banking, while transactions using Automatic Teller Machines (ATMs) will reduce significantly in the coming years.

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US firms eye opportunities in Vietnam’s infrastructure

The US-ASEAN Business Council (USABC) has discussed with Vietnamese government infrastructureministers potential partnerships between Vietnam and major US companies to improve and expand the Southeas t Asia’s infrastructure.

The June 8-10 visit by the USABC business mission marked a continuation of discussion begun during Prime Minister Dung's April visit to the US , USBAC said in its June 9 press release.
During the business mission, which the Council has arranged annually since Vietnam joined the Association of Southeast Asian Nations in 1997, the delegation conducted meetings with key government officials as well as representatives of business and civil society.
The delegation includes senior executives from 22 leading firms co-led by USABC President Alexander Feldman and Stuart Dean of General Electric, who is also Chairman of the Council's Vietnam Committee.
"Vietnam has averaged over seven percent economic growth for the past seven years, and improving its infrastructure will help sustain this impressive record, " Feldman said, adding that "Vietnam's ambitious plans for future development require high-quality foreign investors to succeed, making US companies ideal partners in building Vietnam for the future."
"As Vietnam looks to become more export-driven, opportunities will expand significantly for companies to help upgrade Vietnam 's existing network of ports, railways, and other transportation facilities," said Stuart Dean.
"US companies are already laying the groundwork to help Vietnam take the next steps in its development, including providing technical training and skills to help Vietnam develop the human resources it will need to compete in the global marketplace," he said.
Council members are also enthusiastic about Vietnam's key position in helping to drive forward regional architecture. “As the chair of ASEAN for 2010, Vietnam has an important opportunity to keep regional goals for economic integration on track. We've been very impressed by the Vietnamese government's plans to advance ASEAN Single Window and e-customs plans,“ said Alexander Feldman.

Source: dantri