China's Huawei boosts Vietnam presence with SHB partnership
China’s Huawei Technologies Group and Vietnamese lender SHB have signed a strategic cooperation agreement, a move expected to strengthen the tech giant’s footprint in Vietnam, according to a statement released by the bank on Sunday.
Under the agreement, Huawei will assist SHB in designing its technology architecture and developing data platforms, the statement said, News.Az reports, citing Reuters.
The company will also support the bank in maintaining stable and secure operations, it added.
“The cooperation with SHB is an important milestone in the group’s market expansion in Vietnam,” said Spawn Fan, a senior Huawei executive, in the statement.
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Huawei has already been working with several Vietnamese financial institutions, including SCB, SeABank and Home Credit. These collaborations focus on areas such as digital transformation, cybersecurity, data analytics, cloud computing, and optimizing banking system performance, according to the Vietnam Banks Association.
Last year, Huawei secured contracts to build parts of Vietnam’s 5G network, marking a significant shift from Hanoi’s earlier policy that had restricted Chinese companies from participating in the country’s 5G infrastructure development.
By Nijat Babayev
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