BIDV and HFIC cooperate to promote economic development

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

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

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

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

Accordingly, HFIC and BIDV will coordinate to implement syndicated lending activities according to the current credit mechanism in accordance with the provisions of law and the State Bank of Vietnam within the scope of projects HFIC lends or acts as a focal point for syndicated lending in priority areas of socio-economic development in the area. The two units will agree on the form of appraisal, on that basis, consider and decide on the participation rate in syndicated credit granting, create conditions and closely coordinate to build and complete this credit program.

In addition, with its advantages, BIDV will provide HFIC and customers participating in the project with comprehensive, quality banking services at preferential costs and support optimal business performance such as: consumer loans, payments, deposits, overdrafts, employee salary payments via accounts 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 cooperation opportunities between HFIC and BIDV but also helps the two units build a long-term strategy to improve the operational efficiency of each unit, affirming the common determination to maximize the potential of each party and actively contribute to the sustainable development of Ho Chi Minh City. At BIDV, Binh Hung branch will be the focal unit, responsible for implementing credit programs and closely coordinating 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