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Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8

South Korea’s largest convenient store chain, GS Retail, opened its first store, GS25 Vietnam, in Ho Chi Minh City in January this year, after shaking hands with SonKim, a leading retailer of lingerie and underwear in Vietnam, to launch a joint venture franchise in the country. Vietnam is GS Retail’s first overseas market, which has rapidly-rising consumer power compared to other emerging markets, and plans to have 2,500 outlets nationwide within a decade. “Convenience stores are not only for selling products but also drive food trends and promote cultural images,” said Mr. Yun Ju Young, COO of GS25 Vietnam. “Our products, with the private brand ‘You Us’, will be popular among young people like students and office workers.” GS Retail is one of many foreign brands that have come to Vietnam through franchising. Vietnam is likely to see a greater presence by international franchisors over the next few years New arrivals The … [Read more...] about International franchisors keen on Vietnam