On 4 March 2015, People's Committee of Nghe An province and Bank for Investment and Development of Vietnam JSC (BIDV) organized the annual New Year Investors Meeting in Vinh City, Nghe An province. Mr. Nguyen Sinh Hung, Chairman of Vietnam’s National Assembly and leaders of central and local agencies and more than 800 delegates from organizations business associations, groups, businesses, news agencies attended the meeting.

The meeting has been organized since 2008 under the BIDV’s initiative – the co-organizer and sponsor. The meeting has been a festival for investors, attracting huge investments and contributing to the economic development of Nghe An in particular and Vietnam’s North Central region in general.

​The meeting provided investors with a big picture of the socio-economic development and investment in Nghe An in 2014 and future development plans. According to Nguyen Xuan Duong, Chairman of Nghe An province, Nghe An’s GDP in 2014 stood at 7.24%, higher than the growth rate of the last 2 years. GDP per capita was VND27 million; budget revenues reached VND7,652 billion. “In 2014 alone, the province granted new and revised investment certificates to 187 projects with registered capital of VND55,663 billion (up 260% and 432% by project volume and registered capital respectively against 2013). Until now, Nghe An has 776 effective investment projects including 733 local (VND164,937 billion) and 43 FDI projects (USD1.61 billion)” he added.

At the meeting, Nghe An granted investment certificates to 8 projects with a total investment value of VND13,092 billion and USD27.5 million. Also at the meeting, 9 investment agreements totaling VND2,995 billion and USD95 million were signed. BIDV, as the sponsor and fund provider, signed master contracts worth VND9,100 billion of four projects (total investment of VND13,878 billion). These are the largest investment projects in priority areas of big and prestigious corporations and groups, promising great breakthroughs in growth and budget revenue for Nghe An and motivating other investment projects.

Over the years, BIDV has paid special attention to the economic development of Nghe An. The bank’s roles are demonstrated in 4 dimensions: consultancy; calling for investment; financing; and social security.

Regarding consultancy, BIDV has been involved inproviding consultancy to the economic development policy for Nghe An, project evaluation and granting. BIDV also directly joined with Vietnam Academy of Social Sciences (VASS) to complete “Scientific grounds for the breakthrough economic developments in Nghe An in 2015-2020 period and vision to 2030”, giving significant recommendations and inputs on economic policy-making to Nghe An province.

Regarding calling for investment, as one of the leading financial institutions, BIDVcalled for investment capital and financial institutions to financegood projects in key economic sectors of Nghe An and future priority areas of the province. Outstanding projects include Urban & Services Industry Complex VSIP in Quang Ngai and VSIP6 in Nghe An. In the cement sector, BIDV will promote the arrangement of the transfer of funds atAnh Son Cement Plant to quickly restructure it.

Regarding financing, over the last 7 years, BIDV has financed major projectsin infrastructure development, hydropower, seaports, hospitals, social housing, and more.At this event, BIDV signed four master funding contracts totaling 9,100 billion of the projects namely Nhan Hac Hydropower; Song Lam Cement; Venture Garment; Tuan Loc Industrial Park.

Regarding social security, BIDV is at the forefront of fundingpoverty reduction and charity programs. At the event, BIDVpresented VND15 billion to the National Technology Innovation Fund for Nghe An’s green growth and VND10 billion to the program on improving integration knowledge for Nghe An’syouth.

Addressing the event, Mr. Tran Bac Ha, BIDV Chairman, believes that the stars are aligned for Nghe An to develop. In the coming time, Nghe An should develop industrializationunder “green growth” direction, based on key pillarswith high content of advanced science and technology, striving to become a good province in North Vietnam in 2015, laying foundation for  becoming an industrial province by 2020 and hub of finance, trade, tourism, education and training, science and technology, health, culture, sports, high-tech industries of Vietnam’s North Central Region.