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Partnership for sustainable development
mInH nam
Mr. Le Ngoc Lam – CEO of BIDV (right) and Mr. Pham Hong Quang – CEO of VEC represent the two sides to sign the agreement
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On 22 October 2021 in Hanoi, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Vietnam Expressway Corporation (VEC) signed a comprehensive cooperation agreement for the period 2021-2025.
Under the agreement, BIDV and VEC affirm that they will be strategic partners, ensuring long-term and sustainable cooperation through mutual support to promote the strengths of each party in their business operations in accordance with law and business strategy of each party. The two sides are committed to cooperating to optimize the potentials, improving business efficiency and competitiveness of each party.
Mr. Truong Viet Dong - Chairman of the Council of Members of VEC shared: building on the results achieved in the cooperation in the past period, the two sides will continue to make more significant changes to promote business activities, creating the most favorable conditions for their respective customers.
Mr. Le Ngoc Lam, Chief Executive Officer of BIDV expressed his belief that the active support by BIDV in the provision of modern and preeminent banking products and services will help VEC continue to operate effectively and grow stronger.
“The signing of the comprehensive cooperation agreement today continues to affirm the long-term and sustainable cooperation relationship, helping improve operational efficiency, position and competitiveness of each party, ensuring the balance of the overall interests of the parties in cooperation.”
Established in 2004 and headquartered in Hanoi, Vietnam Expressway Corporation engages in the investment, operation, maintenance, and handling of toll collection in expressway routes. Its activities also include the construction of transport facilities in various modes. In addition, the company involves in transport technical consultation, research and development of services in expressway adjacent areas. VEC is now one of the largest expressway developers in Vietnam. Some of its expressway projects include Cau Gie - Ninh Binh, Noi Bai - Lao Cai, Da Nang - Quang Ngai, Ho Chi Minh City - Long Thanh - Dau Giay, and Ben Luc - Long Thanh.
