BIDV and HFIC cooperate to promote economic development.

On October 17th, in Ho Chi Minh City, the Ho Chi Minh City State Financial Investment Company (HFIC) and the Vietnam Investment and Development Bank ( BIDV ) signed a cooperation agreement.

This event marks a significant step in establishing a strategic partnership between the two sides to promote the implementation of credit programs supporting socio -economic development in Ho Chi Minh City.

This is a collaborative program implementing Resolution No. 98/2023/QH15 dated June 24, 2023, of the National Assembly on piloting special mechanisms and policies for the development of Ho Chi Minh City, and Resolution No. 09/2023/NQ-HĐND dated September 19, 2023, of the People's Council of Ho Chi Minh City on syndicated loans for projects in the priority areas of socio-economic infrastructure development in the City.

Mr. Nguyen Quang Thanh (Deputy General Director of HFiC) and Mr. Tran Long ( Deputy General Director of BIDV) represented the two units in signing the cooperation agreement.

Accordingly, HFIC and BIDV will coordinate the implementation of syndicated loan activities under the current credit mechanism in accordance with the law and regulations of the State Bank of Vietnam within the scope of projects where HFIC provides loans or acts as the lead lender in syndicated loans in priority socio-economic development sectors in the area. The two units will agree on the appraisal method, and based on that, consider and decide on the participation rate in syndicated credit granting, creating conditions and coordinating closely to build and refine this credit program.

Furthermore, leveraging its advantages, BIDV will provide HFIC and other project participants with comprehensive, high-quality banking services at preferential costs, effectively supporting optimal business operations, such as consumer loans, payments, deposits, overdrafts, employee payroll through BIDV's payment system, and other banking products and services with appropriate preferential mechanisms.

The signing of this agreement not only opens up new opportunities for cooperation between HFIC and BIDV but also helps the two units build a long-term strategy to improve the operational efficiency of each unit, affirming their shared determination to maximize the potential of each party and contribute positively to the sustainable development of Ho Chi Minh City. At BIDV, the Binh Hung branch will be the focal point, responsible for implementing credit programs and coordinating closely with HFIC to realize common goals.

Source: https://www.congluan.vn/bidv-va-hfic-hop-tac-thuc-day-phat-trien-kinh-te--xa-hoi-tp-ho-chi-minh-post317633.html