Monday, September 10, 2007

Vietnam needs nearly 40,000 more ATMs in 2008

Vietnam is in dire need of automatic teller machines (ATMs), since it will pay salary for state employees via bank accounts starting in 2008, local newspaper Vietnam News reported Monday.

Vietnam is estimated to need at least 40,000 ATMs early next year, while it currently has only 4,000 ATMs, mainly in Hanoi capital and southern Ho Chi Minh City. Belonging to four different networks, the ATMs are not linked together.
Under a recent government instruction, state agencies in some big localities like the two cities will start paying salary via bank accounts for their staff on Jan. 1, 2008. Other localities nationwide, where bank account services are available, will follow suit on Jan. 1, 2009.
Considering there are three million public employees, it will save the expenditure and hassle of handling huge amounts of money, and benefit the banking system. It could also act as a check on bribery, the newspaper said.