Discounted letter of credit (L/C) fees are amongst the incentives on offer from Saigon Hanoi Bank (SHB) for companies operating in Vietnam that are either wholly or partially owned by foreign investors.

The Vietnamese bank has recently launched a new financial solution package for foreign direct investor (FDI) businesses, offering attractive incentives, along with streamlined procedures and simple documentation.

FDI package

Under the package, new FDI corporate clients of SHB will benefit from up to 75 per cent off import L/C fees as well as waived or reduced international payment fees.

Customers will also benefit from free inbound international transfers, up to 90 per cent off outbound international transfer fees, and free domestic money transfers at SHB counters or via its online banking services. The incentive programme applies to all transactions.

Encouraging foreign investors

Vietnam encourages FDI in various sectors, including manufacturing, real estate, information technology, agriculture, energy, and services.

Benefits for FDI businesses include access to Vietnam's expanding economy and growing middle class, which present significant market opportunities, while its geographic location in Southeast Asia offers advantages for regional trade and logistics.

The Vietnamese government offers various incentives to FDI businesses, including tax breaks, land use privileges, and support for high-tech and environmentally friendly projects.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.