BRG Group, VNPT Corporation, Sumitomo Corporation and SeABank signed a cooperation agreement in Fintech, Smart Cities and other businesses.

July 1st, 2019, in Tokyo, Japan - Within the framework of Prime Minister Nguyen Xuan Phuc's official visit to Japan, a cooperation agreement among BRG Group, VNPT Corporation, Sumitomo Corporation and SeABank was signed in the witness of the Prime Minister and members of the two Governments, aiming at the common goal of the parties in contributing to the development of Fintech and the application of high technology in smart city in Vietnam.

The participation of the four well-known enterprises from the two countries in this cooperation agreement ensures the success of Vietnam's Fintech and Smart Cities projects because each party has strong potentiality and great advantages to jointly develop great projects.

For the Fintech, the cooperation agreement was signed to develop modern electronic financial methods, implementing non-cash payment plan in the context of high potential development capacity of electronic payment in Vietnam, with total value of electronic payment transactions estimated at 12.33 billion USD in 2022 (according to market research of Statista). At the same time, the cooperation in Fintech will bring many benefits to general public such as making Vietnam financial market be more accessible and transparent, thereby reducing risks and increasing efficiency.

In the field of smart city development, the cooperation of BRG, VNPT, Sumitomo and SeABank contributes to the urban development in line with the general policy of the Government of Vietnam, consolidating and strengthening good relationship of enterprises of the two countries in accordance with the comprehensive cooperation orientation between Vietnam and Japan.

The signing ceremony is also very special when receiving the attention and witness of the Government members of the two countries and is a practical model in "win - win" cooperation between businesses of Vietnam and Japan.

Sharing about this cooperation, Madame Nguyen Thi Nga, Chairman of BRG Group said: “Fintech has been developed for a few years and it has achieved tremendous successes, FinTech's application has helped to fill the dynamic demands has changed in 4.0 technology era, and the investment of large corporations to develop this field is the general development trend of the world.”
“In the development of smart cities in Vietnam, the participation of BRG Group, VNPT Corporation and Sumitomo Corporation, with its capacity and experience in technology and operational will help smart cities in Vietnam is soon deployed, bringing new sources of motivation for the country's socio-economic development.” Madame Nguyen Thi Nga emphasized.

A typical example of smart city development in Vietnam is the Smart City under the planning of Nhat Tan-Noi Bai route with an estimated investment of US $ 4.2 billion, being developed by BRG Group and Sumitomo Corporation. The city concentrating all the modern technological of 4.0 industrial revolutions. And the participant of VNPT in this project may help the project have a solid foundation to bring the most modern technology applications into practice.

Mr. Pham Duc Long, CEO of VNPT commented on the cooperation with BRG Group and Sumitomo Corporation in developing smart city: “This signing ceremony is especially important for successful development of smart cities in Vietnam, especially for the smart city under Nhat Tan – Noi bai master plan as it was developed by large corporations of Vietnam and Japan. Regarding to the role of VNPT, we confidently accompany with BRG Group and Sumitomo Corporation in this project. We will provide full range of information technology product, solution and infrastructure for the smart city to make it become a great model of building smart city in Vietnam.”

“In the field of Fintech, We believe VNPT will be together with BRG, Sumitomo and SeABank to analyze big data of from all of us by NPT's artificial intelligence technology (AI) to support business and construction new services, bringing new values and benefits to customers of all parties. Further, we expect to create an ecosystem of digital services included Fintech and digital banking." Mr. Pham Duc Long adds.

The cooperation among large Japanese and Vietnamese enterprises in Fintech and smart city development is more meaningful when it takes place under the new royal era of Japan. Mr. Masahiro Miyashita - Corporate Officer, General Manager, Smart Communications Platform Business Division of Sumitomo Group said: “Japan has just entered a new era called Reiwa, which means beautiful harmony and development. Therefore, the cooperation among Sumitomo, BRG, VNPT and SeABank in our new era will surely bring extremely good results for the economic cooperation of the two countries. ”

“In the field of Fintech and Smart City, we have experience and technology foundation confident to cooperate with leading Vietnamese enterprises such as BRG, VNPT and SeABank to bring to success to Vietnam’s major projects, contributing to the development of Vietnam's socio-economic.” said Mr. Masahiro Miyashita.
Emphasizing that technology plays an important role in the development of the financial and banking system in Vietnam, Ms. Le Thu Thuy – CEO of SeABank highly appreciated this cooperation, which not only helps to promote the capabilities and strengths of each party but also brings much better value to customers.

Ms. Le Thu Thuy said: “Digitizing in the banking industry is an inevitable trend for banks to exist and develop in the new era, under the impact of the industrial revolution 4.0 and especially the rise of Fintech. To catch up with the trend, SeABank has always focused on investment in technology development, applying new technologies to change its activities towards customer-centered, to provide quick services and better quality. This cooperation agreement further demonstrates SeABank's commitment to continuously improving the system and improving the quality of products and services with the goal of best serving customers' needs”.

The signing ceremony of the MOU in Japan can be considered as an important milestone for the development of BRG, VNPT, Sumitomo and SeABank when all four enterprises have their own potential and strength together to resonate their strength, maximizing the advantages of each party to gain sustainable development and to go further along the development path of each party, while contributing to the continuous growth of the country's economy and the good relationship between Vietnam and Japan.