On 29 June 2023, in Hanoi, BIDV Hanoi Branch and Tien Thanh Investment Industrial Zone Joint Stock Company signed a credit agreement to finance Tien Thanh Industrial Zone construction and investment project.

Located in Tien Lang District, Hai Phong City, the Industrial Zone (IZ) Project - Phase I covers an area of nearly 150 hectares, focusing on three main sectors: consumer goods manufacturing; electronics assembly and manufacturing and mechanical product manufacturing, targeting at FDI customers.

Representatives of BIDV Hanoi Branch and Viet Phat Group sign the agreement

Under the agreement, BIDV will provide a medium and long-term credit facility of VND1,290 billion, accounting for 54.69% of the total project investment with a duration of 60 months. This enables the business to cover valid and legal expenses (including site clearance and compensation costs) to carry out project construction.

Tien Thanh Investment Industrial Zone Joint Stock Company is a member of Viet Phat Group. Before that, BIDV Hanoi and Viet Phat Group started partnership with a VND2,500 billion short-term credit facility for the thermal coal supply package of Song Hau Thermal Power Plant of Viet Phat Import Export Trading Investment JSC from May 2022.

Up to now, BIDV has granted short-term credit facilities totalling VND3,500 billion and credit volume (guarantee, L/C and outstanding loans) up to VND5,000 billion to Viet Phat Group, meeting credit demand for the entire business activities of Viet Phat Import - Export Trading Investment JSC, contributing to the company’s record high revenue of more than VND6,000 billion in 2022 and the overall profit growth of Viet Phat Group.

Building on the success of the modern industrial zone projects which have been deployed across the country, BIDV-financed Tien Thanh (Hai Phong) Industrial Zone project will not only become an important “spotlight” but also an attractive destination to domestic and foreign investors, a typical model of a smart, environmentally friendly, sustainable and modern industrial zone in line with the development orientation of Vietnam in general and Hai Phong City in particular.

BIDV is currently the largest commercial bank in Vietnam’s banking system in terms of total assets, boasting a wide network nationwide as well as in Hai Phong City. With vast experience in serving nearly 17 million individual customers and nearly 500,000 business customers, including more than 6,400 FDI enterprises nationwide and hundreds of FDI enterprises in Hai Phong City, BIDV is confident to provide modern banking and financial products and services to best meet the diverse needs of customers and partners.