To Huy Vu, Director of the International Cooperation Department at the State Bank of Vietnam, said at a ceremony celebrating the German bank’s 30-year presence in Vietnam on March 6 that foreign banks and foreign direct investment (FDI) enterprises have played a crucial role in the success of Vietnam’s Doi moi (Renewal) process.

He expressed his hope that LBBW will continue to leverage its strengths, acting as a bridge between Vietnamese businesses and those in Germany and Europe, while continuing to offer banking products and services tailored to the needs of both Vietnamese and European companies operating in Vietnam.

The official said he is confident that with the over-200-years tradition of the bank and the excellent achievements Vietnam and Germany have gained over the past 50 years, LBBW will continue to grow strongly and make a positive contributions to the strategic partnership between the two countries.

Dirk Kipp, member of LBBW's Board of Managing Directors, said that when the bank opened its representative office in Hanoi three decades ago, Vietnam had just begun its transformation and was opening up to the world, embracing reforms, investment, and growth, particularly after joining the ASEAN Free Trade Area.

LBBW is also proud of its contributions to Vietnam’s green energy transition, Kipp said, elaborating that the bank was involved in financing Vietnam's first LNG power project, marking a significant step forward in diversifying energy sources and promoting sustainable development. Additionally, LBBW supports around 10% of the wind power projects currently operational in Vietnam, helping to harness natural energy for a sustainable future, he noted.

German bank considers loans for projects in HCM City

Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has expressed his wish to continue receiving support from the KfW Development Bank of Germany in KfW-funded projects in the city.