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No.34/2014: BIDV and Vietnam Social Security sign master agreement

On 14/7/2014, in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Vietnam Social Security (Social Security) signed the cooperation contract for collecting, collecting social insurance, health insurance, unemployment insurance debts for the enterprises opening the deposit account paid at BIDV system. The contract is implemented on the basis of satisfactory result of the social insurance - health insurance - unemployment insurance collection Service for the non-business administrative agencies coordinated in implementation by Social Security and BIDV since 2012.

With this Cooperation, the Social Security system opens the account “social insurance collection deposit” at BIDV Branches for collecting social insurance - health insurance - unemployment insurance for the enterprises opening deposit account paid at BIDV system. In the short term, the two sectors will deploy in the areas where BIDV has Branches operating over 31 provinces, cities from Thua Thien Hue to the North. After 06 months, the two sectors will evaluate the implementation result and consider the expansion.

​The above cooperation will create favorable conditions for the Enterprises paying the social insurance - health insurance - unemployment insurance; Save the remittance costs. For the Social Security, the cooperation contributes to intensifying the methods to manage collection, recovery of social insurance - health insurance - unemployment insurance debts from the enterprises; Improving the capital utilization efficiency; Concentrating the insurance fund sources most quickly, meet the expenditure demand, develop the Social insurance fund safely, effectively.

To meet the requirements in implementing the contract content, BIDV commits to provide conditions on manpower and technology in a best way; ensure safety, convenience, synchronous operation on the whole system.

With the wide operation network, including over 700 Branches and transaction points in 63 provinces and cities on the whole country and representative offices in foreign countries, human resources of over 18,000 cadres working professionally, seriously and effectively, the technology system is modern, together with 57 years of experience in serving customers, BIDV is proud of being a leading provider of collection services from account or in cash for a lot of Corporations, Groups, local and foreign Banks with large quantity of transactions and high requirements on quality. BIDV always receives the belief and high evaluation from the customers.

The above cooperation implementation for collecting, collecting social insurance - health insurance - unemployment insurance debts is evaluated to be an important progress in the cooperation program between the Social Security sector and the Joint Stock Commercial Bank for Investment and Development of Vietnam.