On 12 March 2015 in Quang Nam, BIDV signed credit contract for off-shore steel ship building, marking the first of a raft of loan agreements for the fishermen in Quang Nam province.

Accordingly, BIDV Quang Nam branch signed credit agreements with ship-owners in Thang Binh district, Quang Nam province to build steel ships with capacity of 822CV totaling VND12.6 billion (nearly USD590,000). BIDV offered a loan to value ratio up to 93% or VND11.7 billion. The loan tenor is 11 years with collateral being the assets formed from the loans. The interest rate follows the instructions in the Government Decree 67. The ships will be built in April 2015 and will be completed and put into operation after 4 – 5 months.

​Further, BIDV also introduced the fishermen to good shipbuilding facilities which offer affordable prices, but high quality. Along with loans for shipbuilding, BIDV is also considering granting working loans to customers to ensure their stable production and business activities in line with the Decree 67 on fisheries development policies.

On behalf of the borrowing fishermen, Phan Thu said the signing of credit agreement helps put Decree 67 into action and is a good sign that motivates and energizes fishermen.

Speaking at the signing ceremony, Le Trung Thanh, Senior Executive Vice President of BIDV said, “Following Decree 67, BIDV has worked with local authorities to exchange information to quickly remove obstacles and best support fishermen. Further to this, BIDV branches also approach ship-owners to guide them through loan documents and procedures, ensuring simplicity and transparency.”

Previously, BIDV signed credit contracts with fishermen for offshore shipbuilding under the Government Decree 67 in Thua Thien Hue, Binh Dinh, Khanh Hoa, and Vung Tau. The total credit contract value is now VND97.7 billion (USD4.5+ million).