Da Nang, 20 December 2024 - The People's Committee of Da Nang City and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) officially signed a Memorandum of Understanding (MoU) on cooperation in developing financial technology solutions for the Da Nang Free Trade Zone. This MoU marks a significant milestone in establishing a strategic partnership between BIDV and the Da Nang City People's Committee, supporting the city’s vision to become a leading hub for high-quality service. The initiative also contributes to promoting regional growth, creating momentum for the Central and Central Highlands, and fostering broader national development. The cooperation is expected to enhance Da Nang’s role as a key economic gateway along the East-West Economic Corridor, while strengthening its position in regional and global connectivity across the Asia - Pacific and beyond.

The signing ceremony was honored by the presence of Mr. Nguyen Van Quang, Member of the Party Central Committee and Secretary of the Da Nang City Party Committee; Mr. Ngo Xuan Thang, Member of the Standing Committee of the City Party Committee, Chairman of the Da Nang City People's Council;  and Mr. Ho Ky Minh, Standing Vice Chairman of Da Nang City People's Committee.  Also in attendance were Mr. Phan Duc Tu, Chairman of Board of Directors of BIDV; Mr. Le Ngoc Lam, Chief Executive Officer of BIDV; along with senior, representatives from central government agencies and departments based in Da Nang, municipal departments and agencies, and numerous investors, corporations, and major enterprises with strong interest in investing, manufacturing, and conducting business in the Da Nang Free Trade Zone.

Representatives of BIDV and Da Nang City People's Committee signing the Memorandum of Understanding

According to the memorandum of understanding, BIDV will partner with Da Nang City People's Committee  across the three strategic pillars, with the objectives of delivering substantial value ​​to the development of the Da Nang Free Trade Zone: (i) Collaboration in developing technological solutions for the management and operation of the Da Nang Free Trade Zone, (ii) Joint research and policy proposals on incentive mechanisms to attract strategic investors and enterprises to operate within the Free Trade Zone, (iii) Cooperation in green finance and sustainable development, aligned with Environmental, Social, and Governance (ESG) standards.

With its strategic location, well-planned infrastructure, and supportive policies, Da Nang City offers various favorable conditions for the establishment and growth of Free Trade Zones. The city is currently seeking the Government approval for the establishment of a Free Trade Zone comprising key functional areas such as: production and logistics; trade and services; digital technology and innovation; and other specialized zones.

Vice Chairman of Da Nang City People's Committee, Mr. Ho Ky Minh delivering his speech at the Signing Ceremony

Speaking at the Signing Ceremony, Mr. Ho Ky Minh, Standing Vice Chairman of Da Nang City People's Committee noted that:

BIDV is a state-owned joint stock commercial bank with robust financial capacity and a proven track record in driving digital and green transformation. It has been a pioneer in deploying products and services on advanced technological platforms. With BIDV's experience, resources and ecosystem - combined with the strong commitment of the Da Nang leadership, I believe this partnership will play a significal and practical role in the development and efficient operation of the Da Nang Free Trade Zone.

Mr. Phan Duc Tu, Chairman of the Board of Directors, delivering a speech at the Signing Ceremony

Mr. Phan Duc Tu, Chairman of BIDV Board of Directors, emphasized:

Da Nang is embracing a remarkable opportunity to shape a new symbol of development the Da Nang Free Trade Zone. This zone will serve not only as a catalyst for economic growth but also as a model for breakthrough innovations in policy, technology, and sustainable development. BIDV is honored to accompany the Da Nang City People's Committee on this transformative journey, driven by a strong commitment, proven implementation capacity, and a shared aspiration to establish a regional-scale trade hub.

As Vietnam’s largest commercial bank by total assets and institutional customer base, BIDV has long provided comprehensive financial services to various key sectors of the national economy, In recent years, the bank has pioneered major breakthroughs in digital transformation, green finance, and open banking, deploying state-of-the-art financial technology solutions tailored to sectors such as seaports, import-export and logistics. Leveraging its top-tier capabilities and competitive advantages, BIDV will contribute actively to the formation and development of the Da Nang Free Trade Zone. These contributions include: a robust and scalable financial technology platform; capital support mechanisms and advisory for attracting foreign direct investment (FDI); Promotion of Environmental, Social, and Governance (ESG) practices across the business ecosystem.

The success of the Da Nang Free Trade Zone will not only reflect its investment appeal but also demonstrate the synergy between government, business, and financial institutions in creating a dynamic and modern economic ecosystem. With extensive experience, strong resources, and a culture of innovation and service, BIDV is committed to delivering cutting-edge technological and financial solutions to accelerate the establishment and long-term development of the Free Trade Zone-ultimately contributing to a new wave of growth and enhancing Vietnam’s global competitiveness in the new era.