Hanoi, May 12 - BIDV organised an international conference with the theme TPP - Opportunities, Challenges, and Solutions for Vietnamese Companies.

​The conference saw the attendance of over 200 representatives, including those from diplomatic missions and Vietnam-based embassies of TPP countries such as the US, Canada, Mexico, New Zealand, Malaysia and Peru; leaders and representatives of ministries and central agencies, professional associations, businesses and prestigious speakers both local and international.  

The conference provided a forum for regulators, policy makers, associations, local and foreign experts, the business community and banks to share information and experiences related to the TPP, and to highlight both the opportunities and challenges arising from Vietnam’s joining of the TTP.

The main focuses of the conference were threefold. Firstly, to evaluate the impact of the TPP on Vietnam, analysing the opportunities and challenges expected for Vietnamese enterprises when the TPP becomes effective; secondly, to assess the competitive position of Vietnamese enterprises; and thirdly, to discuss how financial institutions can accompany businesses in the integration process, by proposing solutions that help Vietnamese businesses leverage opportunities and overcome challenges, as well as making recommendations and proposals to the Government, and State regulators to support enterprises to integrate in the international markets confidently and effectively.

Ph.D Can Van Luc, Senior Executive Vice President of BIDV said, according to the committed roadmap, by 2018 Vietnam must occupy a more liberal position within the banking, insurance and capital markets. Many commercial banks of TPP countries already have a commercial presence in almost all of the TPP bloc countries, with a view to expanding opportunities for investment, serving the business community and boosting trade, investment and tourism amongst the member states. This trend will continue to increase when the TPP officially takes effect.

Major financial institutions including BIDV are willing to accompany enterprises by providing products and services to enable integration such as credit, import-export finance, leasing, international settlement, guarantee, forex trading, insurance, securities, derivatives and commodities.

Mr. Luc also made the following recommendations for financial institutions: (i) to reform their administrative procedures and processes; (ii) to improve the quality of services in line with that of the region; (iii) to continue technological innovation, creating modern products and services catering to export-import activities, investment and retail banking; (iv) to strengthen integration capacity, by expanding networks and enhancing connections with financial institutions in the region and the world; and (v) to conduct in-depth studies of FTAs ​​in order to advise enterprises on operating effective business models and strategies, investment and trade promotion, and risk management.

BIDV is said to be both the pioneering and only financial institution in Vietnam to organise an international conference on the TPP in order to support and accompany customers in international economic integration. With the Government of Vietnam regarding businesses as the driving force of development, this is of great significance to the nation.

In recent years, BIDV has accompanied numerous businesses on their development path, offering modern financial products and services; organising investment, trade and tourism promotion conferences; and supporting and advising enterprises on matters related to financial markets, material sources, partners, and business opportunities at home and abroad.