A Newsletter of Bank for Investment and Development of Vietnam JSC • Issue No.84 | July 2022
BIDV named Best Custodian Bank in Vietnam Positive performance in first half
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BIDV AT A GLANCE The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), founded on 26 April 1957, is the longest-established commercial bank in Vietnam. The bank’s operations cover banking, insurance, securities, and financial investment, boasting a network of nearly 1,100 branches and transaction offices as well as presence in six countries and territories. BIDV is headquartered in Hanoi, the capital of Vietnam. The bank’s stock (ticker: BID) is listed on Ho Chi Minh City Stock Exchange (HOSE).
PILLARS OF DEVELOPMENT Customer centricity Human resources and corporate culture Technology and digital banking
Priorities 2021 - 2025 Sustainable operations Sound financial capacity Transparent and effective governance Positive shift in the structure of customer base People development, fostering corporate culture Leading in IT application and digital banking in Vietnam
VISION 2030 To become a leading financial institution in Southeast
Asia, have the best digital platform in Vietnam, and be among Top 100 largest banks in Asia.
MISSION To deliver the best interests and conveniences to
customers, shareholders, employees and society.
Photo: Thai Van Hoa
CORE VALUES
EXECUTIVE PRODUCER
Customer orientation
Innovation
Professionalism and trustworthiness
Social responsibility
EDITORIAL BOARD
TRAN PHUONG Senior Executive Vice President
Branding and Communication department
Printed at Vietnam Book Printing Joint Stock Company
License No.10/GP-XBBT dated 16 March 2022 by the Ministry of Information and Communications
HEAD OFFICE
BIDV Tower, 194 Tran Quang Khai str., Hoan Kiem dist., Hanoi, Vietnam Tel: (+84) 24 22205544 Fax: (+84) 24 22225316 Contact center: 19009247 Email: bidvreview@bidv.com.vn
Editor’s Letter
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ear readers, The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) had a vibrant July with a host of events and awards. At the Asian Banker Financial Markets Awards Ceremony 2022, which was held virtually, BIDV was honoured as the Best Custodian Bank in Vietnam 2022. This is the second consecutive year BIDV has received this award from the magazine. BIDV has had nearly 20 years of experience in the field of custodian and supervisory services and has always maintained its leading position among domestic custodian banks. BIDV won 2 awards from Global Banking & Finance Awards namely “Best Supply Chain Finance Provider in Vietnam”, and “Most Innovative Digital Banking Application in Vietnam” for BIDV iBank. These awards were handed to BIDV for the second year in a row in recognition of BIDV’s efforts in the development of BIDV iBank – a digital banking app for institutional customers. As of 30 June 2022, the number of customers using BIDV iBank had reached 93,000, an increase of nearly 200 percent compared to the beginning of 2020. BIDV was also honoured to receive 2 awards as voted by Mastercard including “Leadership in Acquiring Volume” and “Leadership in Cross Border Ecommerce Volume” for the bank’s excellent performance in card business. BIDV and the French Development Agency (AFD) met to discuss cooperation orientation
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between the two sides. The two are committed to continuing sharing and strengthening cooperation in the fields of green finance - credit, climate change as well as other areas of mutual concern. AFD said it will support BIDV to participate in a number of networks and organizations such as the International Development Finance Club (IDFC). BIDV and Stavian Group signed a comprehensive cooperation agreement for the 2022-2027 period, affirming the sustainable relationship. Under the agreement, BIDV is committed to financing working capital for production and business activities as well as medium and long-term projects of Stavian Group and its subsidiaries. BIDV and Vietnam Lottery Company (Vietlott) signed a contract on collection service via a virtual account. To date, BIDV is the first and only credit institution selected by Vietlott for collection service via a virtual account. BIDV has released its Q2 2022 financial report. As of 30 June 2022, BIDV's total consolidated assets reached over VND1.98 quadrillion, up 12.4 percent year to date. Credit quality has improved compared to the beginning of the year. NPL ratio according to Circular 11 was 0.83 percent. Bad debt coverage ratio of the banking business alone was 279 percent. Consolidated pre-tax profit reached VND11,084 billion, up 37.5 percent over the same period last year, meeting 53.8 percent of the year plan. In this publication, we also have updates on market movements, new policies, products and services as well as snapshots on tourist destinations in the central region of Vietnam.
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BIDV HIGHLIGHTS
16. BSL joins hands in educational activities 17. Transforming in the digitalization race
03. BIDV named Best Custodian Bank in Vietnam for 2 straight years
04. Cementing partnership with AFD
06. BIDV bags double GBAF awards 08. BIDV, Vietlott ink contract on collection via virtual account
policy update
18. Some takeaways of new insurance business law 19. New regulations on premature withdrawal of deposits
09. BIDV wins 2 awards from Mastercard 10. Interest rate support from State budget 11. BIDV posts positive business performance
market movements
20. Banks upbeat about business results 21. Vietnam approves circular economy development scheme 22. FDI disbursement hiked in first seven months PRODUCTS & SERVICES
23. Enjoy unlimited offers with Omni BIDV iBank lifestyle
12. BIDV, Stavian sign comprehensive cooperation agreement partners
24. Masterpiece of stones 26. Phan Thiet in snapshots csr
13. Honouring with Independence Medal 14. Building foundations to fly higher
28. BIDV Youth Union promote pioneering tradition
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BIDV Highlights
M ai Ng hi
BIDV named Best Custodian Bank in Vietnam for 2 straight years
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n 27 July 2022, at the Asian Banker Financial Markets Awards Ceremony 2022, which was held virtually, BIDV was honoured as the Best Custodian Bank in Vietnam 2022. This is the second consecutive year BIDV has received this award from The Asian Banker. The award is independently evaluated in more than 3 months by experts and researchers on 250 financial institutions in the Asia Pacific. Evaluation criteria include financial performance, process and technology, new product innovation and listing, risk management as well as Covid-19 response solutions. The award is recognition of BIDV's efforts and achievements in catching up with market trends, providing comprehensive services and technological capacity, reaffirming BIDV's No.1 position among domestic custodian banks.
types of securities investment funds, such as member funds, mutual funds, closed-end funds, open-ended funds, exchange-traded funds (ETF), property investment funds, and pension funds. BIDV has strongly invested in technology to digitize processes which help improve accuracy, service speed and lay the foundation for developing new services to keep up with market trends, to provide better experience and customer satisfaction. The Asian Banker Financial Markets Awards is a landmark recognition programme to benchmark institutional achievement and performance in the markets & exchanges landscape of the Asia Pacific region. Its goal is to recognise
excellence in those institutions that have demonstrated a superior business strategy based on strong underlying fundamentals, highlight emerging best practices in establishing robust market structures and identify challenges in executing sound operational processes which market participants can both learn and benefit from. The Asian Banker, headquartered in Singapore, is a leading provider of strategic intelligence and builder of platforms in the financial services industry, established in 1996. The magazine runs regular programmes around the world, including across Asia Pacific (China, Japan, etc.). The Asian Banker also honours BIDV as Best Retail Bank in Vietnam for the seventh time.
The first bank granted a depository license in 2003, BIDV has had nearly 20 years of experience in the field of custodian and supervisory services and has always maintained its leading position among domestic custodian banks. BIDV’s total securities under custody saw an annual growth rate of 35 percent, reaching over VND370 trillion. Income from custodian and supervisory services increased by 26 percent compared to 2021. BIDV is the only bank in Vietnam that provides comprehensive, all-in-one services for investors, investment trust portfolios as well as for all
BIDV representatives receive the "Best Custodian Bank in Vietnam" award
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BIDV Highlights
M i nh Huyen
Cementing partnership with AFD
Leaders of AFD, BIDV and SBV International Cooperation Department in a photo after the meeting in Hanoi
On 25 July 2022 in Hanoi, the Joint Stock Commercial Bank for Investment & Development of Vietnam (BIDV) and the French Development Agency (AFD) met to discuss cooperation orientation between the two sides.
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ccordingly, BIDV and AFD are committed to continuing sharing and strengthening cooperation in the fields of green finance - credit, climate change as well as other areas of mutual concern. Mr. Phan Duc Tu - Chairman of BIDV's Board of Directors shared: Green
growth is one of the important goals in BIDV's business strategy for the period 2021-2025 and vision to 2030. The bank is actively implementing activities to promote sustainable green financial development, environmental protection and climate change response. With the desire to strengthen its role in implementing the sustainable development goals of the banking system in Vietnam, BIDV proposed the State Bank of Vietnam (SBV) and AFD to introduce it to join the International Development Finance Club (IDFC), forums on green banks, and requested AFD to continue to cooperate with BIDV to deploy new sources of development support capital, non-sovereign loans which are similar to SUNREF green credit line.
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AFD Vietnam representative, Mr. Herve Conan, said: AFD wishes to develop green finance in Vietnam and provide technical assistance to commercial banks to fulfill Vietnam's commitments at COP26; providing non-sovereign concessional loans; at the same time supporting research and development of new green financial instruments. BIDV is AFD's main partner in the Asia-Pacific region, and AFD is ready to strengthen and bolster its relationship with BIDV for sustainable development. AFD encourages and will support BIDV to participate in a number of networks and organizations such as the International Development Finance Club (IDFC), forums and green banking alliances to access information, connect and share the bank's green finance development strategy. According to Mr. To Huy Vu Director General of the International Cooperation Department under the SBV, participating in international networks will be very useful for domestic commercial banks. This is an important bridge for domestic banks to expand cooperation opportunities, access information, knowledge and new products in the field of green growth. The SBV supported AFD's referral of BIDV to the IDFC. In the coming time, as SBV's focal point on cooperation with international organizations to support green finance in the banking system, the International Cooperation Department will work with AFD as well as other organizations to
BIDV Highlights
Meeting between BIDV and AFD in Hanoi
deploy forums and conferences on sharing international experiences, mobilizing resources for green credit development in Vietnam. BIDV is a flagship bank in the Vietnamese banking system and a leading bank in the field of foreign entrusted capital. With experience in the effective management of more than 200 programs and projects, BIDV provides modern and comprehensive banking products and services to support the process of efficient deployment of capital sources, ensuring compliance with commitments to the donors and the objectives set out by the Government of Vietnam. Over the years, BIDV has always been chosen by AFD and customers as a re-lending bank, serving AFD's capital sources in Vietnam with a total value of more than EUR325 million. In particular, in 2021, AFD and BIDV successfully implemented a USD100 million SUNREF green credit line. This
was the first funding by AFD to a commercial bank in Vietnam in the form of non-sovereign concessional loan and is considered as one of the fastest implemented projects among AFD’s projects. Established in 1957, BIDV is the largest commercial bank in Vietnam with total assets reaching nearly USD89 billion, boasting an extensive network of more than 1,100 domestic and foreign branches and transaction offices, and partnerships with more than 2,300 financial institutions globally as at 31 December 2021. BIDV has achieved various positive results in green finance, particularly being the market leader in renewable energy financing with a credit size of more than USD1.7 billion by the end of 2021, accounting for 36 percent of outstanding credit for renewable energy in Vietnam. At the same time, BIDV has wide experience and high capacity in receiving and implementing international credit
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projects from international financial institutions with regard to programs and projects for sustainable goals. The French Development Agency (Agence Française de Développement, AFD) Group is a public entity which finances, supports and expedites transitions toward a more just and sustainable world. Active in more than 4,000 projects in the French overseas departments and some 115 countries, AFD teams strive to promote health, education and gender equality, and are working to protect common resources - peace, education, health, biodiversity and a stable climate. AFD has been active in Vietnam since 1994 and has financed more than 90 projects worth almost EUR2.3 billion in various sectors: transport, infrastructure, energy, agriculture, etc. In line with French cooperation priorities in Vietnam, AFD is positioning its operations to support the implementation of the Paris Agreement.
BIDV Highlights
T hu Trang
BIDV bags double GBAF awards On 15 July 2022, BIDV won 2 awards from Global Banking & Finance Awards namely “Best Supply Chain Finance Provider in Vietnam”, and “Most Innovative Digital Banking Application in Vietnam” for BIDV iBank.
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hese awards were handed to BIDV for the second year in a row. Global Banking & Finance Review (GBAF) recognized BIDV for the efforts it has made in the development of BIDV iBank – a digital banking app for institutional customers, especially its latest upgrade to the multichannel platform named Omni BIDV iBank. Thus, the bank’s customers are now able to conduct transactions on either its website or mobile app version. Ms. Wanda Rich- Editor-in-Chief of GBAF said: “The upgrade of this service has met the needs of customers. Especially during the pandemic, many have changed the way they bank and preferred using digital banking services on a mobile phone. For now corporate customers are pleased with faster financial transactions, no limitation on the place or device they use, they should gain more competitive advantage in this digital transformation era.” BIDV has applied the latest technology to improve BIDV iBank,
Two awards given to BIDV by GBAF
creating a diverse digital ecosystem for businesses. In addition to convenient features such as domestic/ international money transfer, payroll payment, online term deposit, foreign currency trading, trade finance, BIDV iBank also offers useful financial solutions such as cash flow management, online bill payment, collection through virtual accounts; connecting customers’ enterprise resource planning (ERP) system with BIDV iBank, etc.
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As of 30 June 2022, the number of customers using BIDV iBank had reached 93,000, an increase of nearly 200 percent compared to the beginning of 2020. In which, 81 percent registered for the financial package. The total number of transactions conducted in 2021 increased by 85 percent compared to the previous year, with the total sales generated through BIDV iBank in 2021 reaching VND5.8 quadrillion. BIDV was also named the “Best Supply Chain
BIDV Highlights
BIDV representatives receive the "Best Supply Chain Finance Provider" award
Finance Provider” (SCF) in Vietnam in 2022. It was the first time a domestic bank won an international award for supply chain finance products. BIDV has been a long trusted provider of this type of products for corporate customers. Especially since 2021 during the outbreak of the Covid-19 pandemic, facing the risk of disruption to both domestic and global supply chains, BIDV has established a SCF group to accelerate the solutions to meet the needs of businesses in different chains, promptly supporting enterprises with capital and networks for stabilizing productions and businesses. As of 30 June 2022, BIDV has developed 12 new chains including
6 supply and 6 distribution ones, attracting nearly 300 more corporate customers to participate in its chain financing. Thanks to the bank’s relentless efforts in this field, BIDV is the only bank in Vietnam to be sponsored by the Asian Development Bank (ADB) to build, design and deploy a Supply Chain Financing business model. Accordingly, BIDV is advised on solutions, from business models, products, solutions to support tracking, sales, risk management and capacity building. This is a favorable condition for BIDV to consolidate and expand product deployment in the near future. According to GBAF, BIDV’s supply chain financing products have been beneficial to customers in a timely
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manner especially during the Covid-19 pandemic. These products have formed a sustainable and safe supply chain for buyers, optimizing payment time for sellers, thus saving costs, streamlining procedures, and allowing access to capital at competitive costs. The awards showcase BIDV's efforts in delivering modern, user-friendly, professional and dedicated banking products and services to corporate customers.
BIDV Highlights
Phuong Linh
BIDV, Vietlott ink contract on collection via virtual account
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n 21 July 2022, BIDV and Vietnam Lottery Company (Vietlott) signed a contract on collection service via a virtual account. Mr. Tran Long – Senior Executive Vice President of BIDV and Mr. Vo Quang Vinh – Deputy CEO of Vietlott represented the two parties to sign the contract. To date, BIDV is the first and only credit institution selected by Vietlott for collection service via an virtual account. Accordingly, BIDV will provide high-tech, flexible, and multiutility application solutions that are easy to use for Vietlott's agents/ business points. This is a completely new solution and offers superior features compared to existing ones in the market, specifically: Vietlott agents/business points can make flexible multi-channel payments either at the bank’s counter, via Internet banking, Mobile banking, or 24/7 inter-bank money transfer. Transactions are simple, convenient, secure and quick, helping the agents/ business points to have an instant increase in sales limit immediately after the top-up transaction is successful. Vietlott is supported with automated cross-check, helping save resources, costs and effective cash flow management. With modern technology infrastructure, professional staff, diversified products and services, BIDV
Representatives of BIDV and Vietlott shake hands at the contract signing ceremony
will best meet the requirements of Vietlott and its agents/business points. BIDV is a pioneer bank in digital transformation, owning a diverse digital ecosystem with a number of outstanding products and services such as BIDV SmartBanking for individual customers, Ommi BIDV iBank for institutional customers. BIDV is also the first bank to cooperate with the Research and Application Center for Resident Data under the Ministry of Public Security to successfully deploy the application of chip-based citizen ID on transactions at BIDV's self-service areas such as ATM, E-Zone, etc.
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Vietlott is the only lottery from Vietnam who is a full member of both the World Lottery Association (WLA) and the Asia Pacific Lottery Association (ALPA). Vietlott operates in accordance with the most stringent standards of WLA and APLA on social responsibility, responsible gaming, risk management and security in the lottery business. After more than 10 years of establishment and development, Vietlott has developed a system of 182 agents, more than 5,400 business points in all provinces and cities across Vietnam, creating 11,000 jobs in localities.
BIDV Highlights
M i nh N goc
BIDV wins 2 awards from Mastercard
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hanks to its excellent performance in card business, the Bank for Investment and Development of Vietnam JSC (BIDV) was honoured to receive 2 awards voted by Mastercard: “Leadership in Acquiring Volume” and “Leadership in Cross Border Ecommerce Volume”. At the Annual Customer Conference (Mastercard Customer Forum) which took place on 30 June in Da Nang City, Mastercard honored banks for their card business, in which BIDV received “Leadership in Acquiring Volume” and “Leadership in Cross Border Ecommerce Volume” award. The “Leadership in Acquiring Volume” award was given to BIDV in recognition of the bank’s highly advanced products such as Contactless payment via POS, and QR code integrated in financial solutions for corporate customers.
BIDV honoured with two awards from Mastercard
BIDV picked up the “Leadership in Cross Border Ecommerce Volume” award thanks to its diverse card products which have met the demand of customers. In 2021 and 2022, BIDV introduced its Membership Rewards program for cardholders and exclusive promotions for crossborder payment via bank cards in order to boost the volume and make up for the decrease in direct payments via POS out of the border due to the pandemic.
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With the goal of becoming a financial institution with the best digital banking platform in Vietnam, BIDV has constantly improved the quality of products and services, increased technology content, and applied the latest features onto its card products to provide the most convenience and benefits to customers, such as: 3D Secure technology, Contactless touch payment technology, blockchain for calculating cashback points instantly within BIDV SmartBanking app.
BIDV Highlights
Hu ong Phuong
Interest rate support from State budget
BIDV holds a conference on interest rate support under the Government's Decree 31
On 7 July 2022, BIDV held a conference on the implementation of the Government’s Decree No.31/2022/ND-CP and State Bank’s Circular No.03/2022/TT-NHNN on 2 percent interest rate support for enterprises, cooperatives and business households from the State budget.
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t the conference, BIDV disseminated the contents of documents related to interest rate support including: Decree 31, Circular 03 and BIDV’s guidance documents on implementation,
which emphasized some highlights such as subjects eligible for interest rate support, repayment terms, management of interest rate-support limits, etc.), as well as conveying lessons learned through interest rate support programs from the State budget in the past. The Head Office also provided guidance on a number of basic contents about the loan management software program regarding interest rate support (including operational flow, software components). Leaders and representatives of Departments/ Centers at the Head Office directly discussed with branches to clarify issues related to the implementation of the interest rate support. Addressing the conference, Mr. Tran Phuong, Senior Executive Vice President,
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emphasized: The interest rate support program from the State budget under Decree 31 and Circular 03 is of great significance to the recovery and development of businesses, customers. Therefore, BIDV in particular and commercial banks in general hold a great role in the implementation. He requested all units at BIDV to coordinate closely to promptly deploy the interest rate support program in accordance with regulations, subjects, purposes and safety as well as the loan management software for interest rate support. In addition, BIDV must pay attention to the inspection and supervision over the loans with interest rate support and communication to customers, ensuring the implementation of the objectives set by the Government and the State Bank, actively contributing to the economic recovery and sustainable growth. Earlier on 20 May 2022, the government issued Decree 31. This decree provides interest rate support for loans in Vietnamese dong arising from lending activities of commercial banks to customers that are enterprises, cooperatives and business households according to the National Assembly’s Resolution 43/2022/QH15 and the Government’s Resolution 11/NQ-CP. The interest rate support period is from the date of loan disbursement to the time when the customer pays off the loan principal and/or interest as agreed between the commercial banks and the customers, in line with the funding source for interest support rates announced, but not exceeding 31 December 2023.
BIDV Highlights
T hieu Nguye n
BIDV posts positive business performance
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he Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has released its Q2 2022 financial report. In the context of Covid-19 pandemic that has been well controlled and the strong economic recovery, BIDV’s business activities continued to remain stable and safe with positive performance. As of 30 June 2022, BIDV's total consolidated assets reached over VND1.979 quadrillion, up 12.4 percent year to date. Deposits from customers and issued valuable papers reached over VND1.540 quadrillion, up 2.5 percent year to date. Loans to customers reached over VND1.483 quadrillion, up 9.5 percent compared to the beginning of the year, higher than that of the same period of previous years. FDI and retail segments saw a good growth at 32.7 percent and 15.8 percent, respectively. Credit quality has improved compared to the beginning of the year. NPL ratio according to Circular 11 was 0.84 percent, ensuring the management orientation. Bad debt coverage ratio was 269 percent. BIDV has made full provision for risks according to debt classification. Safety criteria have been ensured according to regulations. Consolidated pre-tax profit reached VND11,079 billion, up 37.5 percent over the same period last year, meeting 53.8 percent of the year plan. With the vision of becoming a financial institution with the best digital platform
in Vietnam, BIDV has constantly improved the quality of its products and services, increased the content of technology, and applied the latest features in the market to card products to bring the best conveniences and benefits to customers. They include 3D Secure, Contactless payment, Blockchain in calculating cashback points for customers via BIDV SmartBanking app. BIDV has also launched Omni BIDV iBank for institutional customers, offering BIDVERP connection solutions through an API platform, allowing businesses and partners to connect directly from their ERP systems to banks...
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For efforts in business activities, prestigious international and domestic organizations have honoured BIDV with many awards such as Top 2,000 largest public companies in the world (Forbes magazine) for 8 consecutive years; Top 300 most valuable banking brands in the world (Brand Finance), Best Retail Bank in Vietnam 2022 for the seventh time (The Asian Banker). BIDV was also honoured by Vietnam Banks Association and IDG Vietnam Group with four important awards including "Outstanding Retail Bank 2021", "Outstanding Digital Transformation Bank", "Outstanding Innovative Products and Services" and "Bank for community".
BIDV Highlights
T hu P huong
BIDV, Stavian sign comprehensive cooperation agreement On 26 July 2022, BIDV and Stavian Group signed a comprehensive cooperation agreement for the 20222027 period, affirming the sustainable relationship.
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nder the cooperation agreement, BIDV is committed to financing working capital for production and business activities as well as medium and long-term projects of Stavian Group and its subsidiaries. BIDV will also provide Stavian Group with a pack of comprehensive financial solutions. This cooperation agreement offers an opportunity for the two sides to exploit each other's potential, cross-sell and bring more benefits to customers via modern banking services. Mr. Le Ngoc Lam – Chief Executive Officer of BIDV underlined: "The two sides have established a close relationship since the early days of the Stavian Group. BIDV looks forward to continuing to elevate the corporation in the coming time.” Mr. Dinh Duc Thang – Chairman of Stavian Group – expressed his appreciation for the cooperation relationship with BIDV. “We wish to accompany and become a strategic partner of BIDV and together effectively implement the economic projects on the basis of mutual benefit and sustainable development”.
BIDV and Stavian sign comprehensive cooperation agreement for the 2022-2027 period
BIDV has been a trusted partner of Stavian Group for a decade. With a network of about 1,100 branches and transaction offices nationwide and a modern technology infrastructure, BIDV has the advantage in serving Stavian Group’s member units and partners, meeting their needs in a timely manner. As an experienced large financial institution, BIDV has provided capital of up to trillions of Vietnam dong annually to serve the production and business activities of Stavian Group, providing diversified banking products and services including deposits, payments, bond investment, guarantees, trade finance, foreign currency trading, etc.
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Stavian Group, established in 2009, is a multinational conglomerate with 20 branches across the globe, and two large export factories in Vietnam. Its total revenues in 2021 reached nearly USD2 billion. Stavian Group is currently the leading distributor in primary plastic resins in both the region and the world, and is known as one of the leading manufacturers of biodegradable packaging in Vietnam. In the coming time, Stavian Group will continue to expand and develop business activities in other industries such as plastics and petrochemicals, chemicals, logistics, distribution of consumer goods, pulp and paper, investment, and real estate.
partners
Viet Anh
Honouring with Independence Medal On 29 July 2022, BIDV So Giao Dich 1 Branch held a ceremony to receive the State President’s Thirdclass Independence for its efforts and contributions to the socio-economic development of Vietnam.
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stablished on 28 March 1991, the branch took on the mission of being the first unit of the BIDV system to launch commercial banking operations. Headquartered at 191 Ba Trieu, Hanoi, BIDV So Giao Dich 1 Branch has a network of 05 transaction offices. By the end of the first 6 months of 2022, the Branch 1 had established cooperation relationships with over 155,700 customers, including 3,200 corporate customers and over 152,500 individual customers operating in diverse fields both locally and internationally. Total outstanding loans to customers of the branch reached VND33,210 billion (USD1.43 billion), capital mobilization reached VND65,570 billion (USD2.8 billion). With over three decades of development, thanks to dynamic and innovative management, the solidarity, consensus and collective strength, the branch has made breakthroughs, successfully fulfilling the assigned tasks. For 3 consecutive years (2019 2021), the branch achieved an annual pre-tax profit of over VND1,000 billion
H.E. Madam Vo Thi Anh Xuan awards the Third-class Independence Medal to BIDV So Giao Dich 1 branch management
(USD43 million). BY mid-July 2022, the branch’s profits had exceeded VND1,000 billion, promising a year of outstanding business results. In the last 10 years, the branch in collaboration with customers and partners carried out social security activities worth more than VND100 billion (USD4.3 million). Since 2020, the branch has joined hands to support customers affected by the Covid-19 pandemic according to the direction of the Government, the State Bank and BIDV, reducing its income by VND300 billion (USD13 million) to support the Covid-19 affected customers. Addressing the ceremony, Mr. Nguyen Kim Anh - Deputy Governor of the State Bank of Vietnam willed the branch to boost digital transformation,
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develop digital banking services, contributing to the completion of digital transformation goals of the Vietnamese banking system. He requested the branch to strive to better meet the capital needs and banking products and services of businesses and people and socio-economic development programs, deserving the role and position of the leading commercial bank branch in Hanoi. A new journey is opening up opportunities and challenges for the branch, requiring the branch to uphold their determination and high efforts. With the slogan "Strong will – Be pioneering", the branch defined its action motto for 2022 as "Discipline - Efficiency - Digital Transformation" to conquer new heights and achieve greater successes.
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T hu Chi
Building foundations to fly higher
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n 19 July 2022, BIDV-SuMi TRUST Leasing (BSL) held a meeting of the Board of Members (BOM) to evaluate business activities in the first 6 months and review the action plan for the second half. The BoM discussed, evaluated and recognized positive results in the first 6 months of 2022 as well as giving effective orientations and solutions for the last 6 months of the year to ensure the business targets are met. The BoM clearly identified 2022 as an important milestone, marking the maturity of BSL. This is the first 5-year journey of BSL in the financial leasing market in Vietnam and is a turning point for the company's longterm development strategy. At the meeting, Mr. Tanaka Shigeki, Chairman of the BoM shared: “As a participant from the early stages of negotiations to the establishment, I am deeply moved by the maturity of BSL today. I think it is my responsibility to listen to the obstacles and give strong support and accurate advice to BSL in the near future.” Commenting on the journey after 5 years of establishment, BSL Chief Executive Officer, Mr. Nguyen Thieu Son said: “BSL has followed the original goal set by BIDV and SuMi TRUST and reached a number of positive achievements such as: building a management system, risk management, organizational model, business model closely with advanced practices. The company has
BSL receives an emulation flag from BIDV.
initially built trust from partners and customers, is honoured as "Trusted Financial Service Provider" at the Golden Dragon Awards 2022; building a solid team of key personnel, creating a corporate culture and a professional working environment.” Mr. Nguyen Thieu Son emphasized: "With a fairly solid foundation that has been built along with the knowledge acquired in the market in the past 5 years and in line with the expectation of the two parent banks, BSL has built a new vision with the aspiration to become a leading financial leasing company with specific goals until 2027 when BSL
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turns 10”. The same day, Mr. Tanaka Shigeki – BSL BoM chairman and Senior Managing Executive Officer of SuMi TRUST Bank led the delegation of SuMi TRUST Bank to meet with Mr. Le Ngoc Lam - Chief Executive Officer of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). At the meeting, the two sides were happy about the initial results of BSL and discussed the cooperation, especially the parties shared and expressed their determination to build BSL in accordance with the orientation. At the 5th anniversary of BIDVSuMi TRUST Leasing (BSL), BSL was
partners
Mr. Nguyen Thieu Son, CEO of BSL (third, right to left) presents symbols of recognition to BoM members of BSL
honored to welcome Mr. Le Ngoc Lam, Chief Executive Officer of BIDV to attend, deliver remarks and award an excellent emulation flag of BIDV. BSL was recognized as a unit with excellent achievements over the 05 years of operation, contributing positively and effectively to the development of BIDV's system. BSL has a strong growth rate with a total rental property value of nearly VND5800 billion, providing solutions for more than 500 businesses, mainly small and medium-sized, reaching an average growth rate of 80 percent per year. This award is a great motivation for BSL to strive more and contribute to the development of BIDV in particular and society in general.
The BoM meeting took place on 19 July 2022 at BSL headquarters in Hanoi.
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partners
T hu y Trang
BSL joins hands in educational activities
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iming at fostering reading culture for children throughout the country, BIDV-SuMi TRUST Leasing Co., Ltd (BSL) visited and presented books to pupils at Tan Hoa A Primary School in Long An province and pediatric patients at Vietnam Cuba Friendship Hospital in Hanoi. For the purpose of promoting the Sustainable Development Policy for the well-being of the community, BSL always accompanies and joins hands with society to ease difficult circumstances and open more opportunities for students across Vietnam to access better educational standards. On the first days of June, BSL's staff at Ho Chi Minh City Branch presented gifts to pupils at Tan Hoa A Primary School in Long An province. The team presented 1,500 notebooks for pupils and 25 gifts to students with difficult
circumstances. The total value of gifts is more than VND15 million.
Spreading reading enthusiasm On 23 June, Mr. Takahashi Satoshi, Deputy Chief Executive Officer and staff of BSL, visited and presented bookcases to the Pediatrics Department of Vietnam - Cuba Friendship Hospital. This activity was co-organized by BSL and Bridging Foundation Social Company Limited with the aim of bringing meaningful activities to pediatric patients during their treatment here. Mr. Takahashi Satoshi shared: “We hope that the bookcases will become a companion of children in their treatment. During the time they were treated at the hospital, they were somewhat disadvantaged when they had to leave their daily joy of reading. With
the bookcases, we also want to spread the reading culture so that the love of reading in children is multiplied.” Besides book donation, BSL and the Bridging Foundation organized a program of reading stories, folding and decorating handmade paper for pediatric patients under the guidance of volunteers from the Bridging Foundation. BSL team is always aware of its responsibility to develop business associated with sustainable development. Therefore, the company not only strives every day to provide optimal financial solutions for the small and medium-sized enterprises, but also promotes social responsibility activities. Maintaining community activities is its commitment for a sustainable society.
BSL presents bookcases to a representative of the Pediatrics Department, Vietnam - Cuba Friendship Hospital Representatives of BSL Ho Chi Minh City present gifts to students
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partners
Phuong Linh
Transforming in the digitalization race
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ptimizing customer experience has always been key to all activities of BSC. As a pioneering securities company in developing an ecosystem of financial products and services, especially researching and applying new technologies in stock trading, on 13 June 2022, BSC launched a new generation stock investment application - BSC Smart Invest. This is an important step in the digital transformation process to bring a better investment experience to customers, and enhance BSC’s competitive position in the market. Along with the development of the financial industry and the stock market boom over the past two years, digital transformation is an evitable trend for securities companies to increase their competitiveness and retain customers. BSC has joined the digitalization race through launching products and services that have made an important impression on the investor community. By the end of 2021, many technology application products had been
deployed and upgraded by BSC such as online account registration via BSC’s website and BIDV SmartBanking application with eKYC technology, 24/7 investment advisor iBroker. All have contributed to improving customer experience and meeting the needs of investors in the digital era. Thanks to the popularization of smartphones in Vietnam, many securities companies have chosen to invest in mobile apps, creating a “mobile first” trend in the development of stock trading products and services. The launch of the BSC Smart Invest application is an important step in the journey of “digitalizing” BSC’s ecosystem of products and services. With many outstanding features, BSC Smart Invest promises to be a convenient, smart, effective tool for the company’s customers. By integrating trading of underlying securities and derivatives, BSC Smart Invest helps investors to define products that suit their investment taste. The application also allows
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users to monitor market developments such as stocks, derivatives, warrants, ETFs,.. without having to log in. This is an open feature for not only BSC’s customers, but also all investors who are interested in the securities to get updated about the market. In addition, customers can also personalize interfaces, especially the “dark mode” that has many health benefits, while helping to optimize and increase usage time, bringing the most relaxing and comfortable experience to investors. A highlight on BSC Smart Invest is the Recommended Stock List – built as a separate feature. This recommendation list is carefully selected and evaluated by BSC analysts with high accuracy and potential. The icing on the cake is that, the integration of iBroker - 24/7 investment advisor - is a new step that brings BSC Smart Invest further on the journey of “digitalizing” products and services, promising to bring quick, in-depth information for investors’ timely decision-making.
Policy update
tha nh nga
Some takeaways of new insurance business law On 16 June 2022, the National Assembly passed a new Insurance Business Law which will come into force from 1 January 2023. The new law has provided significant changes to the current law and is expected to have a major impact on the development of Vietnam’s insurance market.
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o deliver Vietnam's international commitments, the Law on Insurance Business 2022 has added provisions on the establishment of branches of foreign reinsurance companies in Vietnam; supplemented provisions affirming that foreign investors are allowed to own shares or contributed capital up to 100% of the charter capital of an insurance or reinsurance company (according to Vietnam's WTO commitments and other trade agreements in the field of insurance services, Vietnam does not limit the percentage of capital contributed by foreign parties).
be equal to the liabilities committed by the insurer in the insurance contracts, and be separated between the insurance contracts of the insured subjects inside territory of Vietnam and those of the insured subjects in foreign countries, regardless of the involvement of the same insurance operation, unless otherwise stipulated by laws.
The New Law requires insurers to reserve an amount of money that an insurer or reinsurer must set aside for the purpose of paying its insurance liabilities that may arise from the signed insurance contracts. Under the New Law, technical reserves must be, among others, separately established for each type of insurance operation,
The Law adds provisions on the principles of entering into and implementing insurance contracts; time to consider participating in life insurance,... Regarding dispute resolution, the law has added provisions on the form of dispute resolution through conciliation, arbitration or court.
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In technical activities, the law allows insurance companies to be proactive in designing and developing insurance products and only have to register with the Ministry of Finance regarding the methods and bases for calculating life, health, motor vehicle insurance premiums (except compulsory insurance). The new law also provides for regulations on outsourcing activities. The new law requires that the insurers, reinsurers must constantly maintain their capital adequacy ratio, which is between the actual capital and riskbased-capital in accordance with the regulation of the Ministry of Finance. BIDV headquarters in Hanoi
Policy update
M i nh Hie n
New regulations on premature withdrawal of deposits
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n 16 June 2022, the State Bank of Vietnam issued Circular No. 04/2022/TT-NHNN providing for the application of interest rates upon premature withdrawal of deposits from credit institutions and foreign bank branches. Accordingly, four types of deposits eligible for premature withdrawal include: Time saving deposits; Time deposits; Certificates of deposit, promissory notes, treasury bills and bonds issued by the credit institutions; Other forms of receiving time deposits in accordance with the Law on Credit Institutions.
In cases where customers prematurely withdraw the entire deposits, credit institutions shall apply the maximum interest rate equal to their lowest interest rate applicable to demand deposits by customers and/or in the type of currency deposited at the time of premature withdrawal. The Circular also provides regulations in cases where customers prematurely withdraw part of their deposits. For the part of the deposits withdrawn before the date of maturity, credit institutions shall apply the maximum interest rate equal to their lowest interest rate applicable to demand
deposits by customers and/or in the type of currency deposited at the time of premature withdrawal. For the remaining deposits, credit institutions shall apply the available interest rate applicable to the deposits that the customers have partially withdrawn. This Circular takes effect from 1 August 2022 and replaces Circular 04/2011/TT-NHNN regarding interest rates applicable to premature
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withdrawal of deposits from credit institutions by organizations and individuals. For agreements on premature withdrawal of deposits in effect before the effectiveness of this circular, the credit institutions and customers will continue to adhere to the agreements until the maturity of the deposits or payment date of the deposits or other agreements according to this circular.
market movements
M anh D ung
Banks upbeat about business results
A majority of credit institutions are optimistic about their business performance in the third quarter of 2022, according to the latest survey on business trends of credit institutions released by the State Bank of Vietnam..
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nder the survey released last week, 72.5-80.7 percent of credit institutions expected their business performance results in the third quarter of this year to improve against the previous quarter. In Q3 2022, 54.6 percent of credit institutions expected their business activities to increase slightly compared to the second quarter of 2022, while 38.9 percent expected to see no change and 6.5 percent were worried about a slight decline in business results.
In 2022, 87.7 percent of credit institutions hope their pre-tax profit growth will be positive compared to 2021, while 3.8 percent of credit institutions expect unchanged profit. However, about 8.5 percent of credit institutions are still concerned about negative profit growth in 2022, higher than the 5.8 percent recorded in the survey in March 2022. According to credit institutions, rising demand of the economy for banking products and services, along with rebounding business and financial conditions of customers are the most important factors to help them improve business performance in Q2 2022. Meanwhile, the main factor hindering their growth in the period was fiercer competition in the market. After maintaining good liquidity in Q2 2022, credit institutions expect the liquidity of the banking system to be
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continually better in Q3 2022 and the whole year, compared to 2021. Credit institutions expected the banking industry to gain an average deposit growth of 4.9 percent in Q3 and 11.5 percent for the whole year. They estimated the credit of the banking system to rise by 4.1 percent in Q3 and reach 15 percent in 2022. According to the survey results, the bad debt ratio of the banking system was basically unchanged, or only slightly decreasing in Q2 2022 and Q3 2022 compared to the previous quarter. The credit institutions said the growth of the workforce and employment situation of the banking and finance industry slowed compared to the previous quarter and was expected to have more positive developments in the whole of 2022 compared to 2021.
market movements
mi nh quang
Vietnam approves circular economy development scheme Deputy Prime Minister Le Minh Khai signed Decision No.687/QD-TTg on 7 June approving the circular economy development scheme and setting a number of ambitious targets for the period ahead.
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he scheme aims to reduce the intensity of greenhouse gas emissions per GDP by at least 15 percent by 2030 and supports the target of achieving net-zero emissions by 2050. Vietnam’s economic activities have been mainly based on a linear economy which means taking a traditional approach to the “takemake-dispose” model. In this model, the use of collected raw materials is maximized during the production process, eventually resulting in the disposal of unusable materials.
By 2030, circular economy models will help raise the rate of urban solid waste collection and treatment to 50 percent, recycling 100 percent of organic waste in the urban areas and 70 percent of organic waste in the rural areas. The volume of municipal solid waste collected and treated in line with the standards and criteria of circular economy models should reach 50 per cent by 2030, with 100 per cent of urban organic waste and 70 per cent of rural organic waste being recycled. The scheme's firm measures are set to increase community awareness about the circular economy and promote its development among businesses and residents. The building of specific circular economy plans and integrating them into
According to the World Bank, Vietnam is among the top four generators of plastic waste, at 280,000 tons per year. The pandemic has exacerbated this situation following the increased usage and disposal of facemasks, sanitizer bottles, and e-commerce packaging. By 2025, the country also aims to reuse, recycle, and treat 85 per cent of plastic waste generated, reduce 50 per cent of the plastic waste in the seas and oceans, and reduce the volume of non-biodegradable plastic bags and disposable plastic products that are used in daily life.
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strategies in cities and provinces around the country is essential. The other task is to boost cooperation with international partners and donors to seek opportunities to increase access to knowledge, expertise, and resources for circular economy development through specific projects, technology, and services.The country will also intensify public-private dialogues about the circular economy to promote corporate social responsibility and help businesses solve their problems in this area. Legal frameworks and policies to facilitate development will be completed for prioritised sectors so as to implement a pilot programme with the required human resources.
market movements
Qu ang Liem
FDI disbursement hiked in first seven months months of 2022. Singapore led with total investment capital of over USD4.3 billion, accounting for 27.7 percent of total investment capital in Vietnam. It was followed by South Korea with nearly USD3.26 billion, accounting for nearly 21 percent of of the total investment capital in Vietnam. Denmark continued to rank third with a total registered investment capital of nearly USD1.32 billion, accounting for 8.55 percent of the total investment capital.
FDI disbursement in Vietnam reached USD11.57 billion in the first seven months of this year, up 10.2 percent compared to the same period last year.
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n The country raked in USD15.41 billion in FDI during the period, a year-on-year decline of 7.1 percent, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. Newly-registered investment totalled USD5.27 billion, down 43.5 percent year-on-year. In contrast, extra capital
injected into existing projects surged by 59.3 percent to 7.24 billion USD; and capital contributions and share purchases advanced 25.7 percent to 2.58 billion USD. According to the FIA, in the past 7 months, foreign investors had invested in 18 industries out of a total of 21 national economic sectors. Processing and manufacturing lured the largest share of FDI with more than USD10 billion, accounting for 64.3 percent of the total. The real estate came second with over USD3.21 billion, or 20.7 percent. 88 countries and territories had invested in Vietnam in the first 7
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Statistics showed that foreign investors had invested in 51 provinces and cities across the country in the first 7 months of 2022. Binh Duong led the way with a total registered investment capital of nearly USD2.6 billion, accounting for 16.7 percent of the total registered investment capital and increased by 94.9 percent over the same period of 2021. Ho Chi Minh City ranked second with total investment capital of over USD2.43 billion, accounting for 15.6 percent, up 36, 5 percent over the same period. Bac Ninh ranked third with a total registered investment capital of over USD1.68 billion, accounting for 10.8 percent of the total capital and increased by more than 2.8 times over the same period last year. Generally in the first 7 months of 2022, the FDI sector had a trade surplus of nearly USD19.64 billion including crude oil. Meanwhile, the domestic business sector had a trade deficit of nearly USD19.4 billion.
products & services
Huong Giang
Enjoy unlimited offers with Omni BIDV iBank On the launch of Omni BIDV iBank- a digital bank for institutional customers, BIDV introduces a promotion program named One touch Unlimited offers.
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ccordingly, corporate customers with the largest number of financial transactions in the month of which at least 30 percent are conducted via BIDV iBank(Mobile app version) will receive a Macbook Air laptop worth VND25 million. The program is valid until 30 November 2022, with total prizes up to VND500 million. In addition, customers who register for or reactivate an account at BIDV will be exempted from a variety of service fees such as account management fee, annual fee, domestic transfer, payroll payments on BIDV iBank, etc. Bank also offers a 50 percent discount on international money transfer fee, trade finance fee and an exchange rate discount of 30 points compared to the listed exchange rate (applicable to all foreign currencies) when institutional customers perform transactions via BIDV iBank.
stored, and continue to be processed on the website and vice versa, helping businesses to perform financial/ non-financial transactions anytime, anywhere without interruption. Mr. Mai Ngoc Thuan, Chief Financial Officer of De Heus Asia, one of the first partners to use Mobile app version of Omni BIDV iBank, shared: “What I care most about is the stability and transparency during use. I find that Omni BIDV iBank has responded very well to this, even during peak hours with a large number of users. I must say that I’m very satisfied with Omni BIDV iBank”. Besides, BIDV has employed cuttingedge technology on developing Omni BIDV iBank into a diversified digital ecosystem. With just few simple
BIDV iBank is offering a consistent and seamless experience on both Website (laptops, computers,…) and Mobile App (phones, tablets,..). Transactions performed on mobile devices will be
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steps, customers can easily perform financial services such as cashflow management, online bill payment, collection through virtual accounts, connecting customers’ ERP system with BIDV iBank; automatic payroll payments, domestic money transfer; international money transfer; online term deposit; payment to state budget by automatic mechanism; trade finance, currency trading right on BIDV iBank. Not only providing a superior digital banking product, BIDV also offers financing programs at competitive interest rates, financial advisory and useful banking solutions to meet the growing needs of customers.For further information, please contact the nearest BIDV branch or call the bank’s Contact Center via 19009247.
lifestyle
Qu y nh Chi
Masterpiece of stones While much of Vietnam has already been developed for tourism, Phu Yen province remains largely undiscovered. Visitors to the province will find many stunning places that have yet to be fully exploited and still retain their original natural beauty.
Nhan Tower Located on Nhan mountain, the highest peak in Phu Yen’s Tuy Hoa city, the Cham Tower - also called Nhan Tower by the local people - is a unique structure and one of the coastal city’s most visible landmarks. Featuring a square base and standing at a height of nearly 24 metres, Nhan Tower comprises three main parts including base, body and roof adorned with unique ancient patterns. Built over four floors, the tower gradually
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decreases in size at the highest levels, characteristic of the architecture of the late 11th century. Standing on Nhan Tower at an altitude of over 60 metres above sea level affords views of the whole of Tuy Hoa city’s coastline and urban areas.
Bai Mon Beach- Mui Dien Cape Bai Mon Beach- Mui Dien Cape is one of three national-level vestiges in Phu Yen province. Bai Mon beach is protected by Mui Nay cape in the north and Mui
lifestyle
Dien cape in the south. The beach stretches more than 400 metres; the sand is white and smooth, the water clear and blue, the waves gentle, and the land gently slopes towards the sea. From Bai Mon beach, visitors can cross a small freshwater stream, follow the mountain road, and climb about 400 steps up to a 500 metre-long road where a 100 years old lighthouse stands. Dai Lanh lighthouse was built in 1890, and stands five metres tall with an area of 320m2. Under the floor is an underground-tank containing rainwater, with solar systems on the ceiling providing power to light the beacons and electricity for the lighthouse guards’ daily life. The lighthouse is capable of emitting signals up to 27 nautical miles away.
Inside the lighthouse is a wooden 110-step staircase. Tourists staying here overnight will have the chance to enjoy the area’s beautiful terrain along with the picturesque view of the sun seemingly rising from the sea.
Ghenh Da Dia It took us more than one hour by coach to reach Ghenh Da Dia, recognised as a National Heritage Site. The area is considered a masterpiece of stones endowed to Phu Yen by Mother Nature. From faraway, Ghenh Da Dia looks like a giant honeycomb neatly arranged with giant stone blocks jutting into the sea. The stone has formed into a neat and organised arrangement despite the constant battering by huge waves. It appears
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to have been constructed by humans but is in fact a naturally occurring structure. The stones are 60-80cm in visible height and 20-30cm across and cluster around a small freshwater pond that is fed by underground rivers and never dries up. It is possible to see deep into the sea when the sunlight shines through the pure water.
lifestyle
Pha L e
Phan Thiet in snapshots Blessed with year-round sunshine and romantic scenery, Phan Thiet province - especially the beach town of Mui Ne - is the perfect dream destination for tourists. BIDV Review lists some of the province’s highlights. Renting a motorcycle With vast sand dunes, beaches lapped by clear emerald water, and peaceful fishing villages picturesque in the sunset, Phan Thiet is a fascinating place to explore on two wheels. Renting a motorbike will afford you the flexibility of exploring offbeat places in the area, discovering hidden beaches and local markets.
Sand-sliding Mui Ne’s sand dunes attract countless tourists. After every strong wind, the dunes change shape and colour, appearing sometimes yellow, white,
gray or dark red, with the colours mottling together to create a beautiful picture. Sandboarding on the dunes is a unique experience that shouldn’t be missed.
Kite surfing Mui Ne and Phan Thiet boast a number of windy beaches that are perfect for kite surfing. In fact, the area is one of Asia’s most popular sites for the sport. There are a number of kite surfing schools in the area that offer courses for amateurs and beginners at extremely competitive prices and no shortage of wide, sandy beaches to practice on.
Bau Trang Bau Trang (White Lake), also called Bau Sen (Lotus Lake), is a freshwater lake situated in the immense white sand dunes of Mui Ne. In a vast area of white desert-like sand, Bau Trang appears as an oasis of water sparkling under the sunshine and
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lifestyle
Visiting the early morning fish market Mui Ne’s chaotic early morning market provides a fascinating peek into the lives of local Vietnamese fishermen. Every morning the fishermen are out on the water early before bringing their catch to shore. The whole family mucks in, sorting out the catch and selling it to local traders, restaurant owners, and street food vendors on the spot. Expect to find fishing nets teeming with seafood, buckets overflowing with fish, shells strewn all around, raucous conversation, and plenty of photo opportunities.
the fresh green of lotus leaves. Bau Trang is ideal for a relaxing getaway. Small boats can be hired from local fishermen to row on the lake and collect lotus blossoms. Visitors can go fishing, rest in hammocks hung under casuarinas trees, swim in fresh clean water or just enjoy the beautiful scenery at sunset. Popular activities on the sand dunes include sand-surfing or driving around by jeep.
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Sunrise and sunset To see Mui Ne at its most beautiful, sit and admire the view at sunrise or sunset - and preferably both. Dozens of brightly coloured boats float atop the turquoise waters and everything is bathed in a luminescent light.
Discovering Suoi Tien Suoi Tien, or Fairy stream, is one of the famous sights in Mui Ne. Streaks of red and white sand dunes fall across orange limestone cliffs into the water of Suoi Tien, offering a fabulous spectacle at Mui Ne Beach, some 18km from Phan Thiet. Set against clear blue skies, the hill above the stream lined with palm trees provides the magical backdrop for scenery that earns the place its name.
CSR
Viet N hat
BIDV Youth Union promote pioneering tradition
BIDV Youth Union donates for the embellishment of "Uncle Ho with Youth" monument in Nghe An province
Nghe An Provincial Youth Union and BIDV Youth Union jointly held a ceremony on the restoration and embellishment of the "Uncle Ho with Youth" monument at Nguyen Tat Thanh park, Vinh city, Nghe An province.
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he monument was built on 26 March 1989, a national youth project, to celebrate the 5th National Youth Union Congress and towards the 100th birth anniversary of President Ho Chi Minh. The monument is of great cultural and historical significance, symbolizing the
respect for Uncle Ho and the young generation's desire for contributing to the country’s development. Fostering the tradition of pioneering, BIDV Youth Union supported VND500 million (USD21,300) for the restoration of the monument. Speaking at the ceremony, Mr. Le Van Luong - Member of the Central Committee of the Youth Union, Secretary of Nghe An Provincial Youth Union spoke highly of the achievements of BIDV Youth Union and expressed his belief that BIDV Youth will continue to promote their active and enthusiastic role in youth movements in Nghe An province and other localities across the country. Mr. Tran Phuong - BIDV's Senior Executive Vice President expressed his
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gratitude to Nghe An Provincial Youth Union for coordination in organizing the program. He said it was an opportunity for BIDV Youth to make practical contributions to typical national youth projects. “Under the monument ‘Uncle Ho with Youth’, BIDV's young generation will emulate, be creative, promote youth, and solidarity to successfully realize the bank’s development goals and have more contributions to building a rich and strong country. On this occasion, BIDV Youth Union offered incense at the temple of Kim Lien special national relic site (in Kim Lien commune, Nam Dan district, Nghe An province) to express their respect and infinite gratitude for the great merits of President Ho Chi Minh.
