BIDV Invests VND1,000Bln in Ho Chi Minh City

The Bank for Investment and Development of Vietnam (BIDV) has decided to invest VND1,000 billion (both medium and long term) in Ho Chi Minh City’s technical infrastructure and welfare programmes. The beneficiaries are the projects to expand Cho Ray Hospital and those to build Phu My Bridge, Thu Thiem Bridge, industrial parks, Thu Thiem New Urban Area, and tenements. The bank said the capital is likely to increase if the city authorities provide proper development policies.

BIDV is reportedly pouring investment into Ho Chi Minh City through different channels: direct loans (around VND2 trillion each year, mainly for enterprises in industrial parks and processing zones), lending for demand stimulation (projects on water supply and expansion of Obstetrics Hospital), and advanced lending to the city to meet capital needs for investment projects.   

• H.B