BIDV and Norinchukin Bank recently signed a memorandum of understanding (MOU) on cooperation to support Japanese firms doing business in Vietnam. To date, BIDV has entered into 35 MOUs with Japanese banks in this area of cooperation.

Under the MOU, BIDV and Norinchukin Bank will cooperate to provide banking products and services for Japanese companies who are customers of these banks doing business in Vietnam. The two parties will work together to meet the diverse needs of customers for financial and banking products and services such as accounts, deposits, credits, guarantees, domestic and international payments and foreign exchange, among others.

The two parties will also collaborate to provide information and advisory services to customers regarding Vietnam’s business and investment climate, local laws for foreign investors in the fields of finance and banking as well as business matching.

Norinchukin Bank is Japan’s 8th largest bank and ranked 41st globally by assets. The bank’s total assets and owner’s equity as of 31 March 2018 were USD987.9 billion and USD64.5 billion, respectively.