Prime Highlights

• Huawei Technologies has signed a strategic cooperation agreement with Vietnamese lender SHB to strengthen the bank’s digital infrastructure and support secure operations.
• The partnership marks a key step in Huawei’s expansion strategy in Vietnam’s financial and technology sectors.

Key Facts

• Huawei will help SHB design its technology architecture and build data platforms as part of the agreement.
• The company last year secured contracts to build parts of Vietnam’s 5G network, marking a shift in the country’s earlier restrictions on Chinese firms.

Background

China’s Huawei Technologies Group has signed a strategic cooperation agreement with Vietnamese lender SHB, marking a key step in the technology company’s expansion in Vietnam, according to a statement issued by the bank.

Under the agreement, Huawei will support SHB in designing its technology architecture and building data platforms to strengthen the bank’s digital infrastructure. The Chinese company will also help ensure stable and secure banking operations as SHB advances its technology systems, the statement said.

Huawei said the partnership represents an important milestone in its strategy to expand in the Vietnamese market. A senior company executive described the agreement as a significant step in strengthening Huawei’s presence in the country’s financial sector.

The latest agreement adds to Huawei’s growing ties with Vietnam’s banking industry. The company has already worked with other financial institutions, including SCB, SeABank and Home Credit, with a focus on digital transformation, data analytics, cloud computing, cybersecurity and improving banking operations, according to the Vietnam Banks Association.

The development also follows Huawei’s recent gains in Vietnam’s technology market. Last year, the company secured contracts to build parts of the country’s 5G network, reflecting a shift in Hanoi’s earlier policy that had restricted Chinese companies from participating in sensitive telecom infrastructure projects.

The agreement highlights Vietnam’s increasing openness to Chinese technology firms as banks and telecom operators continue to modernize infrastructure and expand digital services.