VIETNAM
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From Times Staff and Wire Reports
U.S. Banks Get OK to Open in Vietnam: Vietnam for the first time gave approval to U.S. banks to operate in the country, allowing Citibank and Bank of America to set up branches in Hanoi. The State Bank of Vietnam, the country’s central bank, awarded licenses to the banks, the two largest in the United States. Ten other foreign banks have approval to open branches, while 20 have permission for representative offices, which limit operations to collecting information.
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