Lao ambassador pays working visit to BIDV

tue MInH

The delegation of the Embassy of the Lao PDR to Vietnam pays a working visit to BIDV

The delegation of the Embassy of the Lao PDR to Vietnam led by Mr. Sengphet Houngboungnuang, Ambassador Extraordinary and Plenipotentiary paid a working visit to BIDV on the occasion of the 64th anniversary of the bank

Addressing the meeting, Mr. Le Ngoc Lam, Chief Executive Officer at BIDV reported on the operation and cooperation results of BIDV and its presences in Laos with positive results, particularly: Laos - Vietnam Joint Venture Bank (LVB) continues to be among Top commercial banks in Laos, ranking third by total assets, deposits and credit share. Laos-Vietnam Insurance Joint Venture Company (LVI) maintains its position as the second largest insurer by market share in Laos. BIDV Representative Office in Laos always fulfills the assigned tasks, closely working with BIDV’s commercial presences to actively conduct market researches as well as implementing social security activities in the country.

The Lao ambassador congratulated and spoke highly of the results BIDV has achieved in recent years, emphasizing: “Over the 64 years of development, BIDV has continuously grown, becoming one of the leading commercial bank in Vietnam, making great contributions to the country’s struggle for liberation, innovation, economic development and international integration".

"In particular, BIDV is the first Vietnamese bank to invest in Laos through the establishment of LaosVietnam Joint Venture Bank, making significant contributions to promoting investment and socio-economic development of Laos", the ambassador added.

On behalf of BIDV's Leadership, Mr. Phan Duc Tu, Chairman of BIDV’s Board of Directors expressed his thanks for the support of the ambassador and the embassy, affirming that BIDV always excels at the tasks and missions assigned by the governments of the two countries, effectively serving economic, trade, investment and tourism relations between Vietnam and Laos. BIDV acts as a payment bridge for cooperation programs between the two countries, providing modern products and services for Laos market, contributing to building a strong financial and banking system of Laos.

The BIDV’s chairman was committed to continuing to direct Laos-Vietnam Joint Venture Bank and Laos-Vietnam Insurance Company to well perform the tasks assigned by the Party, State and people of the two countries, becoming an effective symbol of the solidarity and friendship between the two countries.

To date, for BIDV alone, the bank has contributed over USD11 million for social security programs in Laos with a focus on education, healthcare, and disadvantaged people.