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BIDV, VGSI ink comprehensive cooperation agreement
an Ha
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Representatives of BIDV and VGSI sign the cooperation agreement in Ho Chi Minh City
On 3 July in Ho Chi Minh City, BIDV and Vietnam GS Industry (VGSI) signed a comprehensive cooperation agreement.
Under the agreement, BIDV will provide all-in-one financial and banking services relating to credits, guarantees, deposits, payments, foreign exchange, financial derivatives, e-banking and retail banking to serve VGSI’s diverse project development and investment activities. For VGSI, the company will prioritise using the banking services provided by BIDV. Needs for cooperation and investment will be further discussed to ensure effective collaboration in the future.
The signing marked a new development milestone in the comprehensive cooperation relationship between BIDV and VGSI, laying solid foundations for the two sides to further support as well as expand their business activities and deepening the cooperation in order for the two to grow together. The agreement is a good starting point, marking the successful connection and cooperation between BIDV and Korea's leading businesses in Vietnam, and will help contribute to further promoting economic and diplomatic relations between the two countries.
VGSI is a wholly owned subsidiary of GS Engineering & Construction Group (GS E&C) - a member of GS Holdings - the eighth largest multinational corporation in Korea in terms of total assets, operating in diverse fields such as construction, retail and energy.
BIDV Ba Thang Hai branch is authorised by BIDV to implement the comprehensive cooperation with VGSI. The branch and VGSI have had an established relationship since May 2019. In January 2020, the branch signed a contract of guarantee with VGSI relating to off-the-plan homes at the Zeit River County 1 project – part of the ZeitGeist metro city project in Nhon Duc and Phuoc Kien Communes, Nha Be district, Ho Chi Minh City. The project has garnered significant attention from the property market in Ho Chi Minh City in recent months. BIDV is the only bank that offers a bank guarantee to buyers within the project.
