Can Tho City, December 9, 2015 - The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and provinces in the Mekong Delta region met to talk about strengthening socio-economic development of the Mekong Delta region in the period 2016-2020 and signed credit contracts. Representatives of the Southwest Steering Committee, the Ministry of Industry and Trade, leaders of the provinces in the Mekong Delta, BIDV and businesses were in attendance.

 

​The socio-economic development in the Mekong Delta in the 2011-2015 achieved positive results, specifically: Economic growth remained stable at a moderate level with per capita GRDP growth estimated at 8.87 percent per year; Agriculture saw steady development, maintaining the role of a key agricultural region of the country. By the end of 2014, the Mekong Delta accounted for 55.5 percent of rice volume; 70 percent of fruits; and 69 percent of fisheries nationwide, making up over 90 percent of rice and 60 percent of fishery exports of Vietnam. The region’s export turnover in 2004 was around USD12.3 billion, or 8.2 percent of that of the country with average growth rate estimated at 14.7 percent per year. Number of poor households in the region fell sharply from 7.4 percent in 2013 to 5.7 percent in 2014, and expectedly to 4.5 percent by end of 2015.

However, there remain limitations: slow shifting of economic structure; ineffective FDI attraction. By the end of 2014, total effective registered FDI capital just stood at USD12 billion, accounting for 4.8 percent of the whole country; Farmers’ income was unsustainable; Tourism development was incommensurate with the potential, accounting for only about 3 percent of tourism revenue of the country.

With capacity and experience in the socio-economic development of Vietnam, BIDV sets to be the pioneer in participating in and contributing to the socio-economic development of the region. Addressing the event, Mr. Tran Bac Ha, BIDV Chairman affirmed and proposed solutions to overcome the shortcomings and limitations and resolve bottlenecks for the region development.

The government of Vietnam chooses 2016 as the year of tourism for the Southwest region. In addition to investment activities, BIDV will propose an international workshop with the participation of experts from Japan, Israel, Taiwan on application of high technology to agriculture, rural development in order to improve the commercial value of commodities in the Mekong Delta.

In the 2016-2020 period, BIDV will propose aid packages, granting non-refundable capital for research and planning activities as well as providing preferential loans for production of industrial goods in the region. For key projects, BIDV pledged to provide VND10-15 trillion for Quan Chanh Bo project and Cho Gao canal project in the form of public-private partnership (PPP); VND12-15 trillion for socio-economic development of Phu Quoc island district.

Besides, BIDV is willing to fund VND10 billion for developing high-tech agriculture; and VND10 billion for the planning of material areas of seafood and fruits. In the 2016-2020 period, BIDV will continue to implement social security programs which have been committed, while promoting new programs focusing on healthcare, education, etc.

At the event, representatives of the provinces in the region were committed to continue studying and developing socio-economic development strategy for the region tailored to the needs and possibilities of each area while closely coordinating with governmental agencies and enterprises to quickly implement key projects, contributing to the completion of socio-economic plan set for the 2016 – 2020 period with strategic vision until 2030.

Currently, BIDV has 28 branches and 89 transaction offices, 141 ATMs, 457 POS with 245.8 thousand cards issued in the Mekong delta region, effectively meeting the needs for modern financial and banking services of the people and businesses in the region.

For more information, please contact:

Bank for Investment and Development of Vietnam JSC

Phone: (+84)4.22205828

Website: www.bidv.com.vn