BIDV and Samsung Vietnam connect values for growth

Duong nguyen

Senior leaders of BIDV and Samsung Vietnam Complex in a family photo at the meeting in November in Hanoi

On 16 November 2021 at the headquarters of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), senior leaders of BIDV and Samsung Vietnam Complex met and discussed opportunities for effective cooperation in the future.

Mr. Phan Duc Tu - Chairman of BIDV's Board of Directors congratulated the great achievements of Samsung Group over the years. According to Mr. Tu, as the oldest and largest commercial bank in Vietnam in terms of total assets (over USD73 billion as of 30 September 2021), and with the support from its strategic shareholder Hana Bank, in its development strategy to 2025 with a vision to 2030, BIDV sets the goal of strengthening extensive and close integration and cooperation with FDI enterprises, especially Korean ones. BIDV and Samsung can cooperate in the fields where the two sides have potentials and strengths. At the same time, with the business philosophy for the community and society, the two sides can cooperate in social security programs, demonstrating the responsibility of the two leading enterprises of the two countries. Mr. Choi Joo Ho - General Director of Samsung Vietnam Complex expressed his thanks to BIDV's leadership for the meeting. Currently, BIDV is cooperating with many businesses that are suppliers and distributors of Samsung and he hopes that the transaction between the parties will continue to flourish in the future. Sharing similarities, through the meeting, BIDV and Samsung Vietnam Complex look forward to opening up opportunities for effective cooperation in their operating fields in compliance with the law, contributing more to the economy and community, and promoting the friendship relations between Vietnam and Korea.

BIDV is currently serving about 1,000 Korean FDI enterprises with a partnership scale of USD1 billion. BIDV provides direct support to FDI enterprises ranging from studying investment activities into Vietnam, consulting on the legal environment, business environment, and to developing tailor-made products and services to meet the needs of FDI enterprises.

Samsung's official investment in Vietnam is marked by the construction of a mobile phone factory in Bac Ninh province in 2008. After 13 years of operation in Vietnam, Samsung is now the largest foreign investor in Vietnam with a total investment of up to USD17.5 billion with six factories and a research and development center.