HANOI, April 20 (Reuters) – Vietnamese lender SHB and China’s Huawei Technologies Group signed a strategic cooperation agreement on Sunday, SHB said, a move that will allow the Chinese technology giant to expand its presence in Vietnam.
• Under the agreement, Huawei will support SHB in designing technology architectures and building data platforms, SHB said in a statement.
• It will also support the bank in ensuring stable and safe operations, according to the statement.
• “The cooperation with SHB is an important milestone in the group’s market expansion in Vietnam,” Spawn Fan, a Huawei senior executive, said in the statement.
• Huawei has been cooperating with other Vietnamese financial institutions such as SCB, SeABank and Home Credit, focusing on digital transformation, security, data analytics, cloud computing, and optimising banking system operations, according to the Vietnam Banks Association.
• Huawei last year won contracts to build parts of Vietnam’s 5G network in a major shift from Hanoi’s prior policy barring Chinese companies from its 5G infrastructure.
(Reporting by Khanh Vu; Editing by David Stanway)
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