Binh Duong (Vietnam), December 11, 2015 – The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Investment and Industrial Development Corporation (Becamex IDC) signed comprehensive cooperation agreement. This is the 3rd time the two sides have renewed the agreement every 5 years.

 

​Under the agreement, BIDV will act as focal point to arrange capital or directly finance Becamex IDC and all of its member companies for feasible projects with total value of credit up to VND15,000 billion, focusing on the development of new urban areas, infrastructure of the new city of Binh Duong and of industrial parks such as Bau Bang, Becamex Binh Phuoc, education, healthcare and other areas.

BIDV is also committed to providing a diverse range of financial and banking products and services such as payment, centralized capital management, deposits, guarantees, trade finance, foreign currency trading, derivatives, securities services, bond issuance, etc. to BECAMEX and its affiliates with reasonable and competitive rates.

BECAMEX and its affiliates are committed to maintaining their payment accounts as well as using guarantee service with the bank, giving priority to placing deposits with the bank as well as using all financial services offered by the member companies of the bank. BECAMEX would also introduce its partners and customers to BIDV to establish a cooperative relationship with these groups who have demand for financial services at the bank branches.

Mr. Tran Bac Ha, BIDV Chairman, said that in the 2016-2020 period, in addition to arranging capital or directly financing BECAMEX IDC and its affiliates, BIDV will cooperate with and support Binh Duong province in delivering the latter’s social-economic development goals. The bank will work with the province to attract foreign investors targeting at Japan, Taiwan, South Korea and Singapore.

BIDV said it would provide VND50,000 billion loans to support secondary investors and the industrial zones in the province, of which medium and long-term would be VND25,000 billion with VND8,000 billion for the housing construction for workers in the industrial zones.

On agricultural sector, BIDV is committed to providing VND5,000 billion loans for high-tech agricultural development in the province such as high-tech centralized industrial livestock raising, application of new technology in raising pigs and cattle (beef and breeding cattle).

Also at the signing ceremony, BIDV presented the Binh Duong province with 100 charity houses worth VND5 billion and 01 ambulance to Phu Giao district clinic center worth VND1.2 billion.

For more information, please contact:

Bank for Investment and Development of Vietnam JSC

Phone: (+84)4.22205828

Website: www.bidv.com.vn