State Bank of Vietnam Issues Receipt for Korea Development Bank's Hanoi Branch Application

The Financial Services Commission announced on May 8 that the State Bank of Vietnam has issued a receipt for the application documents submitted by Korea Development Bank for the establishment of its Hanoi branch.

This comes approximately six years after Korea Development Bank first applied for approval in July 2019. The Financial Services Commission emphasized, "The government created a favorable atmosphere through financial diplomacy, including summit meetings between the two countries, meetings between prime ministers, and high-level talks between financial authorities and the Ministry of Foreign Affairs. Korea Development Bank also made every effort, and as a result, these diplomatic efforts have borne fruit."

This receipt is an official document issued by the Vietnamese financial authorities, confirming that all required documents for the application review process have been submitted. This process includes both preliminary and final approval. Korea Development Bank stated, "We will do our utmost to complete the remaining procedures as quickly as possible until final approval is granted."