(VOVworld) - The Bank for Investment and Development of Vietnam (BIDV) has revealed plans to open a representative office in Taiwan, as it seeks to expand outside its home market of Southeast Asia.

The move is in response to an increase in the number of customers from Taiwan, some of whom are positioning themselves to invest in Vietnam ahead of its imminent entry into the ASEAN Economic Community. BIDV President Tran Bac Ha said the number of customers they have from Taiwan is growing, and they hope to facilitate communication with them by opening a representative office there. President Ha said the bank hopes to open the office by the end of November and inaugurate a branch bank within 3-5 years.