Provincial People's Committee works with Military Commercial Joint Stock Bank

On the afternoon of March 7th, comrades Ngo Dong Hai, Member of the Central Committee of the Party, Secretary of the Provincial Party Committee; and Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, received and worked with a delegation from the Military Commercial Joint Stock Bank (MB) led by Colonel Luu Trung Thai, Chairman of the Board of Directors of MB, on connecting and supporting the provision of information to enhance access to credit for foreign direct investment (FDI) enterprises and promote production and business in the province.

Comrade Ngo Dong Hai, Member of the Central Committee of the Party, Secretary of the Provincial Party Committee, delivered a speech at the working session.

Attending the meeting were members of the Provincial Party Standing Committee, leaders of the Provincial People's Committee, and representatives from several departments and agencies.

Providing an overview of the socio-economic development and investment attraction situation in Thai Binh , Mr. Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, informed: In 2023, the Gross Regional Domestic Product (GRDP) growth rate reached 7.37%, ranking 20th nationwide and higher than the national average. In the first two months of 2024, industrial production increased by 6.7%, and export turnover increased by 11.8% compared to the same period in 2023. Thai Binh is currently one of the attractive destinations for investors, attracting nearly 3 billion USD in FDI in 2023, the highest ever, ranking among the top 5 nationwide in attracting FDI capital. The banking sector has grown and developed steadily, creating favorable conditions for borrowing capital and developing production and business for enterprises. He expressed his hope that through this meeting, Thai Binh province and MB would have even closer cooperation for mutual development.

Comrade Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, delivered a speech at the working session.

Regarding MB, Colonel Luu Trung Thai, Chairman of the Board of Directors of MB, stated: Established in November 1994 with an initial charter capital of only 20 billion VND and 25 officers and employees, MB now has over 300 transaction points nationwide, 3 branches in Laos and Cambodia, 1 representative office in the Russian Federation, and 6 member companies operating in the fields of securities, insurance, real estate, fund management, and consumer finance... In Thai Binh, MB currently has 3 transaction points in Thai Binh city and Hung Ha and Thai Thuy districts, with credit and capital mobilization scale among the top private commercial banks in the area. Based on its existing potential, MB can support the province in organizing events and seminars to promote trade and attract FDI investment; Providing businesses in the area with comprehensive financial and banking services best suited to each customer's requirements with preferential pricing policies; implementing social welfare programs in the area. The Chairman of the Board of Directors of MB proposed that Thai Binh province create favorable conditions for MB to quickly access investors, especially FDI investors, to open capital accounts and use MB's services.

Colonel Luu Trung Thai, Chairman of the Board of Directors of Military Commercial Joint Stock Bank, delivered a speech at the working session.

Speaking at the meeting, Comrade Ngo Dong Hai, Member of the Central Committee of the Party, Secretary of the Provincial Party Committee, expressed his admiration for MB's strong development in recent years; therefore, cooperation between Thai Binh and MB is very important for the province to have the conditions for even stronger development. Informing the MB delegation about the recent announcement by Thai Binh of the Prime Minister's Decision approving the Thai Binh Provincial Planning for the period 2021-2030, with a vision to 2050, the Provincial Party Secretary affirmed: This plan reflects the province's aspiration for rapid, comprehensive, and sustainable development, and with clear determination and direction, one of the factors leading to success is resources, including the indispensable support of the financial system in general, and banks in particular. He emphasized that long-term cooperation between MB and Thai Binh province is necessary. At the same time, the Provincial Party Secretary requested that MB Bank's Thai Binh Branch grasp the province's development orientation, closely follow the departments, sectors, and localities to understand the province's development plans as well as those of the sectors and localities, and on that basis advise and propose specific solutions for connection and support; accompany the province in building MB's image, reputation, and recognition in the province; and participate with the province in approaching economic organizations and investors. The Provincial Party Secretary stated that based on the approved Provincial Planning, Thai Binh will have many investment areas, not only in the industrial sector but also in the service, urban, cultural, health, and education sectors... and this is precisely the area MB can focus on exploiting. He also expressed the hope that MB Bank would issue a special credit package specifically for the province, in coordination with the province; and that the financing and cooperation between MB Bank and Thai Binh province would be deepened, aligning with the province's development needs and driving forces in the coming period.

Comrade Nguyen Khac Than, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, presented a commemorative gift to the MB leaders.

Minh Huong

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