On 10 March in Vinh City, BIDV coordinated with Nghe An province to hold the Investors Conference 2018. The conference was attended by Vietnamese prime minister Nguyen Xuan Phuc, deputy prime minister Vuong Dinh Hue and other senior government officials, as well as a large number of domestic firms and foreign businesses.

​The investors meeting has been held since 2009 at BIDV’s initiative. This year’s conference provided participants with a clear picture of the province’s economy and investment in 2017 as well as its economic and investment plans for 2018. Mr. Nguyen Xuan Duong, chairman of Nghe An province said with BIDV’s support over the past nine years, Nghe An secured 980 investment projects totalling over VND276 trillion, including 927 local projects worth VND112 trillion and 53 FDI projects with VND163 trillion. In 2017 alone, the province licensed 176 projects totalling over VND14.5 trillion.

At the conference, the province licensed a further nine projects and witnessed the signing of 16 MOUs with total registered capital of VND13,152 billion. BIDV acted as a sponsor and crowdfunder for these projects, signing agreements on financing a garment factory with investment costs of VND109.5 billion in Nghi Loc district, Nghe An province and on financing water and high-tech industrial zone projects with total investment costs of VND1,810 billion. These projects are invested by big corporations, promising great breakthroughs for the province in terms of economic growth, budget revenues and acting as a magnet for other projects.

BIDV played major roles in the province’s economic development in terms of crowdfunding, financing and social security.

As one of the leading financial institutions in Vietnam, BIDV has advocated and called for investment in the province as well as directly financing feasible projects in key areas. Many customers referred by BIDV have been key investors in the province, including PetroVietnam, Vietnam Cement (Vicem), Vingroup, Euro Windows, The Vissai Ninh Binh, Cienco 4 and Sabeco, among others. BIDV also called on other credit institutions to finance projects in the province.

BIDV has committed to providing credit and banking services to 40 projects with total registered capital of VND72,500 billion over the past nine years. The lender has so far provided loans of VND10 trillion to projects with outstanding loans of VND9,300 billion including major projects which are helping to boost both the local and national economy, such as VSIP Nghe An Industrial Zone, Nghi Son – Cau Giat National Road 1 expansion project, Nam Pong Hydropower Plant Project, Song Lam Cement and Vissai Sea Port, among others.

In the period from 2006 to 2017, BIDV has been proactive in social security programmes in the province, supporting educational development, healthcare and disaster relief, as well as providing Tet gifts for poor households, worth close to VND170 billion in total.

Addressing the conference, Mr. Phan Duc Tu, chief executive officer at BIDV, committed that BIDV would continue accompanying Nghe An province in its investment activities, financing projects or arranging capital for feasible projects in the province and contributing to local development. Mr. Tu also said BIDV would offer preferential credit packages to small and medium enterprises and start-ups in Nghe An, aiming to unlock the province’s potential.