On 16 May 2022 in Ho Chi Minh City, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Hoa Binh Construction Group (HBC) signed a comprehensive cooperation agreement for the period 2022 -2026.

Accordingly, BIDV and HBC will jointly strengthen the cooperation towards the goal of becoming comprehensive partners, ensuring long-term and sustainable cooperation based on each side’s advantages to exploit their potential, diversify business activities, thereby improving business efficiency and competitiveness in the market.

In particular, BIDV will provide comprehensive financial solutions for HBC such as banking, securities, insurance, financial restructuring, bond insurance advisory, centralized cash flow management, electronic banking, supply chain financing. Especially, BIDV will be the bank to arrange short-, medium- and long-term capital up to thousands of billion VND for HBC in fields such as construction, investment in property and production projects.

Representatives of BIDV and HBC signed a comprehensive cooperation agreement

Speaking at the ceremony, Mr. Le Viet Hai, board chairman of HBC, said: “Over the two decades of partnership, BIDV has always provided effective financial support to Hoa Binh. This year is also the first year of the company’s Decade Strategy (2022 – 2032) with the slogan “Strong Breakthroughs”. With such challenging goal, Hoa Binh is pleased that BIDV is committed to continue providing comprehensive financial support for Hoa Binh to strengthen its internal resources, improve competitiveness, and expand market share locally and abroad”. 

Mr. Le Ngoc Lam, BIDV’s Chief Executive Officer, said that since the establishment of the credit relationship, BIDV has always been a reliable partner and accompanied HBC on every development stage, providing short-term loans worth thousands of billion VND for large and important construction projects of Hoa Binh. He believed that with the active support of BIDV, Hoa Binh will continue to operate effectively and grow stronger.

The comprehensive cooperation agreement between BIDV and HBC contributes to bolster the cooperation relationship between the two parties. It is a clear testament to the two sides’ determination to realize their business strategies, creating synergy and sustainable values to each party, community and society.


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