BIDV Sells Two Debts

 The Bank for Development and Investment of Vietnam (BIDV) and the Debts and Assets Trading Corporation (DATC) of the Ministry of Finance signed an agreement on debt trading in Hanoi on October 11, 2006.

Accordingly, BIDV sold to DATC two debts incurred by P’rao Agricultural and Forestry Production Import-Export Company (in Quang Nam Province) and by Construction Materials Production and Trading Company (in Can Tho City). The two-debt value was VND31 billion (roughly US$2 million).

BIDV and DATC signed an agreement on comprehensive cooperation to create a legal framework for developing Vietnam’s debt trading market as well as financial markets in the coming time.DATC is a big and regular client of BIDV.