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Vietnam Looks to US for Its First Automatic Teller Machines

January 22, 1994

HANOI, Vietnam (AP) _ Vietnam’s central bank wants to install the country’s first automatic teller machines and it hopes to buy the ATM equipment from the United States.

The State Bank of Vietnam expects Prime Minister Vo Van Kiet to approve its ATM plan by the end of the month, the semi-official Vietnam Investment Review reported in its current issue.

If Kiet approves, the bank will take bids for the sale and installation of a $5 million to $10 million network of bank machines, the report said.

Deputy State Bank governor Do Que Luong announced the plan to install ATMs in the country’s biggest cities after a recent trip to the United States, the Review said. Luong found the U.S.-made machines compared favorably with those made in other countries, the paper said.

A U.S. trade embargo imposed against Vietnam in 1975 would ban the sale of bank machines. But President Clinton is facing increasing pressure from businesses and politicians to relax the sanctions.

Clinton has said fully lifting the embargo hinges on Vietnam’s cooperation in helping finding soldiers missing in action from the Vietnam War. U.S. officials say Vietnam’s cooperation has been good.

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