BIDV Highlights
Phan D uc Tu
BIDV Chairman
A proud journey of moving forward with Vietnam BIDV’s development history is a proud and glorious journey of the longest-established commercial bank in Vietnam, which has always undertaken great tasks for the country. Glorious missions 65 years of growth with different names Bank for Construction of Vietnam, Bank for Investment and Construction of Vietnam, then Bank for Investment and Development of Vietnam, and now the Joint Stock Commercial Bank for Investment and Development of Vietnam, BIDV has made great contributions to the national construction and defense, the innovation, industrialization, modernization and international integration of the country. The Bank for Construction of Vietnam (the predecessor of the Joint Stock Commercial Bank for Investment and Development of Vietnam - BIDV) was established on 26 April 1957 under the Prime Minister’s Decree 177/TTg. The Bank for Construction of Vietnam was tasked with providing timely capital for national and civil projects, effectively supporting the socialism construction in the North and the struggle for liberation of the South.
managing capital sources for the construction of works for economic development. Some typical works include Thong Nhat railways, VietsovPetro, Tri An Hydropower, Da Nhim Hydropower, Vinh Phu Paper, and Dau Tieng Hydraulic System. On 24 June 1981, the Council of the Government issued a decision to move the Bank for Construction under the Ministry of Finance to establish the Bank for Investment and Construction of Vietnam under the State Bank of Vietnam. The main task of the bank was still allocating capital and providing loans for construction and starting Mr. Phan Duc Tu, Chairman of the Board of Directors, BIDV application of borrowing – repayment mechanism to The bank allocated capital for many gradually eliminate subsidy in capital large projects in the North such construction. Under this mechanism, as Thuong Dinh industrial zone; the bank allocated funding to mechanical plants in Hanoi; Thai build great works such as Ho Chi Nguyen iron and steel factory; Ha Bac Minh Mausoleum, Hoa Binh and Tri fertilizer company; power plants in An Hydropower Plants, Ha Long Hanoi, Uong Bi, and Nghe An province; Shipbuilding Factory, Chua Ve Port (Hai coal mines in Quang Ninh province; Phong), Thang Long Bridge, Chuong and Bac Hung Hai hydropower project, Duong Bridge, Vietnam-Soviet Cultural amongst others. Friendship Palace, amongst others, which formed solid foundations for As soon as the South was liberated the socio-economic development of the in 1975 and the country was country. reunified, the Bank for Construction of Vietnam established branches in Following the Ordinances on the the South, expanding its network State Bank and on banks, credit throughout the country. The Bank cooperatives and financial companies, utilized all resources, effectively on 14 November 1990, the Council
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