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10/25/06

Thanh Nien Daily/Vietnam: Czech Republic financial group seeks establishment in Vietnam

Hanoi ---->>
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Czech Republic financial group seeks establishment in Vietnam

The Czech Republic-based financial group Prvni Privatizacni Fund (PPF) is seeking permission from the central bank to set up a wholly foreign-invested financial firm in Vietnam. A PPF representative said one of crucial fields the firm targeted to develop in Vietnam was credit loans and deferred payment services. Additionally, PPF would facilitate Vietnamese institutes, individuals and enterprises in international banking payments.

PPF is the strongest financial group in the Czech Republic, with assets of more than US$4.1 billion, focusing on finance, banking and insurance. PPF also has a presence in Slovakia, Russia, Kazakhstan, and China, and is eyeing expansion in Ukraine and some of the Balkan nations.

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