BIDV invests green capital in Nghi Son High-Tech Mechanical Factory project implemented by DDC. Photo: Hua Chung/VNA
On the afternoon of November 19, in Ho Chi Minh City, Dai Dung Construction and Trading Mechanical Joint Stock Company (DDC) and Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) signed a comprehensive cooperation agreement for the period 2024 - 2029; and signed a Green Credit Contract to finance the Nghi Son High-Tech Mechanical Factory project. According to the signed content, BIDV will provide modern banking products and services, working capital financing, medium and long-term capital for development activities in the fields of construction, finance, real estate projects, manufacturing projects... in which DDC participates as an investor, general contractor, contractor, joint venture contractor or member of a joint venture. Notably, BIDV will provide capital for the Nghi Son High-Tech Mechanical Factory project that DDC is implementing in Thanh Hoa. This project is designed, constructed and operated to meet the LEED Gold standards (a gold-standard green building standard issued by the US Green Building Council (USGBC). The provisions of the cooperation agreement are the basis for both parties to promote mutual support activities, optimize potential and develop business activities in domestic and international markets. Mr. Trinh Tien Dung, General Director of DDC, said that DDC's receipt of green trade funding is of great significance in supporting businesses towards sustainable development. This will be an important resource for DDC to implement projects, renewable energy products, super-heavy and super-large... "DDC will be facilitated by BIDV to access financial resources to finance projects to be implemented in the near future, especially projects that meet the criteria of carbon neutrality, emission reduction and negative impacts on the environment. The contents of the cooperation agreement between BIDV and DDC are consistent with the sustainable development orientation that both sides are striving to implement and pursue," said Mr. Dung. Although operating in the mechanical field, DDC has planned a long-term growth strategy and integrated sustainable development goals into the action program for each growth stage. Currently, the company has been constantly upgrading its supply chain to meet LEED Gold standards, meeting CBAM (Carbon Border Adjustment Mechanism) criteria to deeply penetrate the European market; At the same time, focusing on projects that comply with carbon neutrality from the stage of selecting environmentally friendly materials to the manufacturing, construction, installation and operation processes. At the same time, the enterprise also strives to contribute to improving the social security system through many practical community activities. On the BIDV side, Mr. Le Ngoc Lam, General Director of BIDV, said that DDC has exported products to demanding markets. BIDV will prioritize using the best resources to meet capital requirements as well as accompany projects with enterprises in the near future. Before DDC, BIDV also invested capital in a number of manufacturing enterprises in the direction of sustainable development, affirming the bank's development strategy in the direction of "Green Bank". This bank has issued the Sustainable Loan Framework, Green Bond Framework... creating the premise for implementing green credit packages, preferential capital funding programs for green construction projects... In addition, BIDV is also the first organization to successfully issue sustainable bonds in the domestic market with 3,000 billion VND of voluntary bonds in compliance with the Sustainable Bond Guidelines of the International Capital Market Association (ICMA). The bank also mobilized nearly 5,000 billion VND of green deposits to finance green projects, save energy, reduce emissions, bring positive impacts to the environment and society... Source: https://bnews.vn/bidv-rot-von-xanh-vao-nha-may-co-khi-cong-nghe-cao-nghi-son/353953.html
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