26 January 2024
Bangkok (26 January 2024) –
Krungsri (Bank of Ayudhya PCL) and
Mitsubishi UFJ Financial Group (MUFG), Japan’s largest financial group and one of the world’s largest financial organizations, are collaborating to drive the growth of ASEAN's digital economy with the signing of a memorandum of understanding (MOU) with the
Vietnam National Innovation Center (NIC) which will support a startup business ecosystem. The cooperation will help optimize how Vietnam’s startups operate and facilitate growth, while also giving them the opportunity to grow internationally.
Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, said, “As part of Krungsri's Medium-Term Business Plan, our focus is on transitioning into an Innovative Bank and expanding our footprint in the ASEAN region. We are committed to cultivating business collaborations with other ASEAN countries to foster the growth of the digital economy ecosystem and information technology. This initiative aims to propel the growth of financial institutions within the region. As Vietnam is experiencing robust economic development and maintains a supportive stance towards startups, Krungsri is pleased to contribute to strengthening the digital ecosystem and support new generation startups and the tech industry in Vietnam during this important period of growth."
Mr. Masao Kojima, Managing Director and Regional Head of Vietnam, MUFG Bank, said “MUFG Bank has consistently boosted Vietnam’s presence on the global stage through collaborating with various partners. A recent JETRO survey highlights a significant increase in interest over the past year from Japanese investors in Vietnam. We are confident that this partnership will advance the digital ecosystem, bolster the growth of startups, and make a substantial contribution to the expansion of the Vietnamese economy."
Mr. Vu Quoc Huy, Director General, Vietnam National Innovation Center (NIC), said, "NIC is pleased to sign this MOU with Krungsri and MUFG, as it will strengthen relations between Vietnam and potential investors from Thailand and Japan that are interested in investing in Vietnamese technology and innovation. This cooperation aims to promote and harness the full potential of Vietnam's technology and innovation sector, propelling it forward to meet the demands of the international market. At the same time, we stand prepared to support startups from Thailand, Japan, and other nations seeking business opportunities within Vietnam."
The Memorandum of Understanding signing ceremony was recently held online with Mr. Kenichi Yamato, Krungsri President and Chief Executive Officer, Mr. Bunsei Okubo, Krungsri Head of JPC/MNC Banking, Mr. Vu Quoc Huy, Director General, Vietnam National Innovation Center (NIC), Mr. Kojima Masao, Managing Director and Regional Head of Vietnam of MUFG Bank, Mr. Nobutake Suzuki, President & CEO of MUFG Innovation Partners (MUIP) and Mr. Sam Tanskul, Managing Director of Krungsri Finnovate Co., Ltd. signed the MOU. The agreement spans a five-year operational plan, focusing on supporting activities in four key areas.
- Promoting and supporting the global expansion of Vietnamese startups by leveraging the Krungsri and MUFG’s strong network
- Sharing knowledge and providing business management guidance to enhance the business capabilities of startups in Vietnam through various activities offered by Krungsri Finnovate and MUFG, such as the Accelerator Program
- Organizing business matching events for startups in Vietnam, Thailand, Japan, and other countries to create opportunities for international business collaborations and investments
- Supporting the development of data and information platforms to meet the requirements of startups in Vietnam and other NIC areas
"By leveraging Krungsri's expertise and MUFG's robust network, we are confident that this partnership will significantly support the growth of Vietnam's digital economy. Krungsri is committed to actively contributing to the advancement of the tech industry in Vietnam through collaborative efforts, paving the way toward stable and sustainable regional growth,"
Mr. Yamato concluded.