BIDV: Effectively fulfilling its role as a "facilitator" for investors.
(Baonghean)From 2009 to 2012, after four Spring Investment Promotion Conferences and Investor Meetings, the Vietnam Investment and Development Bank (BIDV) - the co-organizer and main sponsor - increasingly demonstrated its role as a "facilitator" for investment projects by providing credit for projects after the signing of investment agreements.
In total, through four Investment Promotion Conferences held in Nghe An, BIDV has signed 25 agreements committing to arranging and providing credit and banking services for 28 projects, with a total registered investment of VND 39,363 billion. The amount of capital BIDV committed to arranging is specifically determined based on the total approved investment of each project, the financial capacity and borrowing needs of the investor, and BIDV's ability to meet the funding requirements. Specifically, at the first conference in the Spring of 2009, BIDV signed 11 agreements for 13 projects; in 2010, 7 agreements for 7 projects; in 2011, 5 agreements for 5 projects; and in 2012, 2 agreements for 3 projects. In 2013 alone, BIDV will sign 2 projects providing credit and banking services for the import-export and electronics manufacturing sectors, with an estimated amount of VND 510 billion.
As of December 31, 2012, BIDV had provided financing under four agreements with a total committed financing amount of VND 4,035 billion. BIDV truly acts as a "facilitator" for investors, especially in the current challenging economic climate. BIDV has strived for the benefit of the business community, while also affirming its status as a leading bank with strong financial capacity, ready to meet the capital needs of projects granted investment certificates. This also demonstrates the responsibility of a major credit institution to contribute to promoting economic development.
Representatives from the Vietnam Investment and Development Bank (BIDV) provided support for the project.
Education for Nghi Xuan commune - Nghi Loc district. Photo: SM
In a conversation with us, BIDV's leaders enthusiastically stated: "As a co-organizer and main sponsor of Nghe An province's annual Investment Promotion Conference, BIDV wishes to contribute to boosting investment attraction in the province, the birthplace of President Ho Chi Minh, in order to serve the increasingly prosperous socio-economic development of the province. We believe this is also part of the responsibility of a credit institution operating in Nghe An."
Alongside providing credit for projects, BIDV has always been a pioneer in social welfare activities. According to the Brand & Public Relations Department's report, Nghe An is one of the provinces that BIDV has paid special attention to supporting in terms of social welfare. From 2009 to 2012, BIDV supported 29 programs with a total committed budget of over 83 billion VND, accounting for nearly 10% of BIDV's total social welfare support nationwide. 23 out of 29 programs have been completed, and 6 programs are in the process of settlement and implementation, including: the Sustainable Poverty Reduction Program under Government Resolution 30a, eliminating 1,338 temporary houses and building 4 new health facilities and 2 schools in Ky Son district; the Community Training Center Construction Program in Nam Dan district; and the New Rural Development Program, building a vocational guidance and training center in Kim Lien commune, Nam Dan district. The program to renovate Ho Chi Minh Square; the Truong Bon historical site… Over the years, BIDV's social welfare sponsorship activities in Nghe An province have made a significant contribution to the rapid poverty reduction efforts in accordance with the Government's policy. In particular, BIDV has focused on supporting near-poor districts under the national target program on building new rural areas for the period 2010-2020, focusing on areas such as: healthcare support, education, housing construction for the poor, and community cultural projects…
BIDV Nghe An Branch is always ready to welcome investors to the province and is committed to creating the most favorable conditions for businesses and investors to operate, access loan capital, and contribute to the success of investment projects and the transformation of the urban landscape. This is clearly demonstrated in recent years by BIDV Nghe An's investment in many large-scale, modern projects and works such as: the National Highway 1A upgrade project; the 12-9 Petroleum Cement project with a loan of 100 billion VND; the Nghe An Petroleum Building (100 billion VND); co-financing the Vinh Bypass project under the BOT model (100 billion VND); the Ban Ve Hydropower Plant (250 billion VND); the Da Khai Hydropower Plant; the Vinh City Central Park; the Hoang Mai Cement Plant... In addition, it has provided hundreds of billions of VND in loans to invest in equipment and increase construction capacity for businesses, contributing to the strong economic development of the province.
At the Nghe An Investment Promotion Conference, BIDV signed a commitment to be the lead bank arranging financing for investment projects granted investment certificates in Nghe An province. However, BIDV's arrangement and disbursement of this credit depends on the progress of the projects implemented by the investors. Some projects, due to changes in total investment, location, design, or awaiting government approval, require investors to revise their projects, thus delaying implementation and causing delays in BIDV's project appraisal. Furthermore, some projects, such as the Hoang Mai Industrial Park project of Nghe An Petroleum Joint Stock Company; the Hoang Mai steel billet production plant project; and the Ferromanganese smelting plant project of Van Loi Steel Joint Stock Company, have not been implemented or have not been carried out by the investors, preventing BIDV from fulfilling its credit agreements and its role as a "facilitator".
Text and photos: Quynh Lan
