BIDV Quang Binh: Pioneer in Investment Promotion

2:55:39 PM | 30/12/2014

As the only currency and credit business in Quang Binh province, the Joint Stock Commercial Bank for Investment and Development of Vietnam - Quang Binh Branch (BIDV Quang Binh) has made very positive contributions to local social and economic development and to the banking industry. Especially, with active investment attraction policies into Quang Binh province in recent years, BIDV Quang Binh has tried its best to call a lot of investors to the province.
Following the directions of the State Bank of Vietnam (SBV) and BIDV, the branch has defined key tasks for 2014: Boosting credit growth and facilitating customers to access low-rate bank loans. At the same time, it has deployed robust, consistent solutions to remove difficulties for clients and settle bad loans so as to improve its credit quality and the credit quality of the Quang Binh banking system in general. As of end-October 2014, the branch’s deposits mobilised reached VND4,009 billion, up 16.5 percent from a year earlier and 14 percent in excess of the plan. Outstanding credit was VND5,752 billion, up 25.9 percent from a year ago.
 
Dinh Huu Thanh, Director of BIDV Quang Binh Branch, said Quang Binh province is rich in potential for economic development, specially tourism and maritime economy. In recent years, the province has issued many effective investment attraction policies with the aim of bringing the economic development to a new level. Foreseeing this trend, BIDV Quang Binh has many programmes to associate with the province in creating a favourable investment and business environment, he said.
BIDV Quang Binh has funded many important projects in the province, including Song Gianh cement plant, Paradise Cave, Sun Spa Resort in My Canh Bao Ninh, Quang Binh Beer Plant, a bypass road to Dong Hoi City, a bypass road to National Road 1, and projects in Hon La Seaport Industrial Park, helping these projects generate trillions of Vietnamese dong of revenue and provide jobs for thousands of workers.
 
Since early 2014, BIDV Quang Binh has actively initiated efforts to organise an investment attraction event in Quang Binh province and pledged to fund investment projects. Seeing the potential and advantages of Quang Binh, BIDV proactively suggested and coordinated with Quang Binh province to host the first-ever investment promotion conference. And on April 5, 2014, Quang Binh province and BIDV successfully co-organised the event where the Provincial People's Committee of Quang Binh handed investment certificates to 13 projects.
 
For its part, BIDV signed agreements in principle to arrange funds for projects to be carried out in Quang Binh province like a VND300-billion yarn plant construction project in Gia Ninh commune, Quang Ninh district invested by Vietnam National Textile and Garment Group (Vinatex); VND2,000-billion Bao Ninh - Hai Ninh Resort invested by Sungroup Group; VND3,000-billion Phong Nha - Ke Bang Tourist Complex invested by Sungroup Group; VND1,600-billion Hon La 2 Industrial Park invested by FLC Group; Co.op Mart Quang Binh in Dong Hoi Supermarket in Dong Hoi City; and Son Doong car cable system.
 
BIDV and stakeholders also signed a memorandum of understanding and pre-feasibility report in Slovakia for a bonded warehouse and oil pipeline from Hon La Port, Quang Binh province, Vietnam to Khammouan province, Laos. BIDV Quang Binh is assigned to disburse the loan and collect debts. The disbursement is expected from the third quarter of 2015.
 
With its relentless efforts in the past 57 years, BIDV Quang Binh was awarded a lot of honours like the First, Second and Third Class Labour Orders, Certificates of Merit from the Chairman of Quang Binh Provincial People's Committee, the Governor of the State Bank of Vietnam (SBV), and BIDV. Most recently, the branch was conferred the Second Class Independence Order for its outstanding achievements and contributions to the cause of building of socialism and national defence. The award ceremony will take place at the beginning of 2015.
 
Thuong Hien

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