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Sunday, July 21, 2024

HSBC Vietnam launches female entrepreneur fund

The Saigon Times

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HCMC – HSBC Vietnam has launched its Female Entrepreneur Fund, which enables Vietnamese female business owners to receive funding, access an extensive international network and join international-standard upskilling masterclasses.

Women in Vietnam have risen to the height of corporate leadership and many are leading global entrepreneurs. They are shining examples of the country’s success.  However, some researches show that whether in Vietnam or elsewhere, women suffer from financial biases and have unequal access to funding.

With the Female Entrepreneur Fund, HSBC Vietnam aims to cooperate with women and men allies, many of whom have been HSBC’s valued customers for years, to foster and support female entrepreneurship in Vietnam.

“Access to funding remains one of the biggest hurdles for female business leaders in Vietnam and elsewhere. There is much to do as the pandemic has had a disproportionate effect on female-led businesses,” said Amanda Murphy, head of Commercial Banking, South and Southeast Asia at HSBC.

“Breaking down the barriers faced by female entrepreneurs and providing the infrastructure and support to help them scale and grow their businesses are critical in addressing these challenges. Deal by deal, though, we’re breaking the bias and leveling the playing field,” she added.

The fund has already welcomed its very first Vietnamese business, Nguyen Hoang Investment Development Corporation, or Nguyen Hoang Group, a world-class international education service provider.

Thanks to this financing, Nguyen Hoang Group can now support their expansion and construction of selected educational projects across Vietnam, providing higher quality education to Vietnamese students and training high-quality human resources for the socio-economic development of Vietnam.

Speaking at the signing ceremony for strategic partnership today, August 9, Hoang Thi Le Trinh, deputy CEO of Nguyen Hoang Group, said, “I believe this is just the beginning of the cooperation between HSBC and Nguyen Hoang, which will definitely help both organizations to go further in the future.”

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