On 11 June 2019, in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and the Housing and Urban Development Corporation (HUD) entered into a comprehensive cooperation agreement for the 2019-2023 period.

Attending the signing ceremony from BIDV side were Mr. Phan Duc Tu, Chairman of the Board of Directors, Mr. Le Ngoc Lam-Senior Executive Vice President in charge of the Board of Management, Mr. Ngo Van Dung-Board member, and leaders of some of its subsidiaries. Also attending from HUD side were Mr. Nguyen Viet Hung, Chairman of the Board, Mr. Do Hoai Dong-CEO, members of the Board of Members and the Board of Management, Chief Accountant, and management from different departments and subsidiaries of HUD.

According to the agreement, BIDV and HUD affirm to further cement the relationship towards comprehensive partnership, guaranteeing a sound and long-term cooperation. This will make the most of their potentials to boost their development, diversify their operations, hence, improving their performance and competitiveness. Through collaboratively promoting a number of activities, BIDV and HUD will help expand one another’s operations to get the most out of their domestic and international potentials. Through HUD’s real estate projects, BIDV will develop their retail banking activities and provide home loans and other products and services for HUD’s home buyers. On the other hand, through a major financial institution like BIDV, HUD will have opportunities to access financial funds for their future projects, and best banking products and services to facilitate their performance and customer service.

In his speech at the ceremony, BIDV Board Chairman, Mr. Pham Duc Tu, confirmed his confidence that the comprehensive cooperation agreement for the 2019-2023 period would mark a significant step forward in the parties’ strategic cooperation. In addition, he affirmed the importance of cooperation between large enterprises in driving the economy forward and responding to the Government and Party’s resolutions.

Over nearly 15 years of partnership, BIDV has boasted of being HUD’s great partner, providing the best banking products and services, meeting the corporation’s demand for credit and capital, and other financial and banking services to the greatest extent. BIDV has been accompanying HUD in most of its significant projects, such as: Viet Hung, Linh Dam, Van Quang, East Thang Long, Son Tay urban areas; HUD Tower, and HUD Building Nha Trang projects; etc. BIDV has also provided loans and bank guarantee service for the corporation and their subsidiaries to meet their annual demand of short-term loans.