BIDV - Developing financial technology for Da Nang free trade zone

This is an important milestone, opening the strategic cooperation relationship between BIDV and the People's Committee of Da Nang City in the journey to develop Da Nang into a high-quality service center, creating a driving force to spread to the Central - Central Highlands region and the whole country; becoming an important link connecting the East - West Economic Corridor, the Asia - Pacific region and the world.

Attending the signing ceremony were Mr. Nguyen Van Quang - Member of the Party Central Committee, Secretary of the Da Nang City Party Committee; Mr. Ngo Xuan Thang - Member of the Standing Committee of the City Party Committee, Chairman of the People's Council of Da Nang City; Mr. Ho Ky Minh - Permanent Vice Chairman of the People's Committee of Da Nang City; Mr. Phan Duc Tu - Chairman of the Board of Directors of BIDV; Mr. Le Ngoc Lam - General Director of BIDV; representatives of leaders of Central Committees and branches located in the city; representatives of city departments, branches and branches and many investors, corporations and large enterprises interested in investing, producing and doing business in the Da Nang Free Trade Zone.

Representatives of BIDV and Da Nang City People's Committee signed a memorandum of understanding

According to the content of the memorandum of understanding, the Bank for Investment and Development of Vietnam (BIDV) will accompany the People's Committee of Da Nang City in three key pillars of cooperation, with the goal of bringing outstanding values ​​to the Da Nang Free Trade Zone: (i) cooperation in developing technology solutions for managing and operating the Da Nang Free Trade Zone, (ii) cooperation in researching and proposing preferential policies and attracting strategic investors and businesses operating in the Da Nang Free Trade Zone, (iii) cooperation in the field of green finance and sustainable development (ESG).

With its strategic location and synchronous infrastructure system, Da Nang City has many favorable conditions to form and develop a Free Trade Zone. Da Nang is currently submitting to the Government for approval the Decision to establish a Free Trade Zone with functional areas including: production, logistics; trade - services; digital technology industry, innovation and other types of functional areas.

Speaking at the signing ceremony, Mr. Ho Ky Minh - Permanent Vice Chairman of the People's Committee of Da Nang City - said: "BIDV is a joint stock commercial bank with state-owned capital, strong financial potential, and is one of the pioneering banks in digital transformation and green transformation with a variety of convenient banking products and services on a modern technology platform. With BIDV's potential, experience and ecosystem, along with the strong determination of the city government, I believe that this cooperation is of practical significance, contributing to the development and effective operation of the Da Nang Free Trade Zone".

Mr. Ho Ky Minh - Permanent Vice Chairman of Da Nang City People's Committee spoke at the signing ceremony

Mr. Phan Duc Tu - Chairman of BIDV Board of Directors - emphasized: “Da Nang City is facing a turning point opportunity to create a new symbol of development - Da Nang Free Trade Zone. This is not only a lever for economic growth, but also a place to apply breakthroughs in policy, technology and sustainable development. BIDV is honored to accompany the People's Committee of Da Nang City on this journey, bringing with it a strong commitment, practical implementation capacity and a common aspiration to create a regional-scale commercial zone”.

As the bank with the largest total assets in Vietnam, the largest institutional customer base and providing financial services to many important sectors of the economy, BIDV has recently pioneered and made breakthroughs in digital transformation, green transformation and open banking development with modern financial technology solutions in the fields of seaports, import-export and logistics. BIDV will promote its leading capabilities and advantages to contribute to the development of the Da Nang Free Trade Zone, which is an outstanding financial technology platform, the ability to support capital sources and policies to attract foreign investment, and promote ESG practices.

Mr. Phan Duc Tu - Chairman of BIDV Board of Directors speaking at the signing ceremony

The success of Da Nang Free Trade Zone will not only be a measure of investment attraction capacity, but also a testament to the effective coordination between the government - enterprises - financial institutions in creating a modern ecosystem. With resources, experience and a spirit of service and innovation, BIDV will actively contribute technological and financial solutions to the formation and development of Da Nang Free Trade Zone, contributing to creating new development momentum and increasing national competitiveness in the new era - the era of national development.

Established in 1957, after 68 years of development and growth, BIDV is currently the financial institution with the largest total assets in Vietnam with more than 2.8 million billion VND. BIDV is serving more than 22 million individual customers, more than 500,000 businesses, and has cooperative relationships with 2,300 financial institutions in 178 countries and territories worldwide.

BIDV has achieved a number of important achievements in implementing the digital transformation strategy to 2025, with a vision to 2030 in terms of: technology infrastructure, technology solutions, database, security and technology mastery. Currently, BIDV is a bank that has successfully deployed many modern technology systems, automatically connected according to the highest payment standards, is a leading bank in deploying public financial services, directly connecting with the Customs Department, Tax Department, State Treasury; pioneering the deployment of the BIDV Open API open banking system according to international standards and cooperating with leading technology partners. BIDV's financial technology solutions have created new utilities: corporate financial management, optimizing operational efficiency, especially for logistics enterprises, import-export enterprises, ... creating the basis for developing into a system to support the automation of customs clearance procedures, customs supervision for the Free Trade Zone in the future ...

PV

Source: https://congthuong.vn/bidv-phat-trien-cong-nghe-tai-chinh-cho-khu-thuong-mai-tu-do-da-nang-389072.html