BIDV commits some USD1 billion of credit capital to Ha Nam

Wednesday, 10/08/2016 11:39
The Joint Stock Commercial Bank for Development and Investment of Vietnam (BIDV) has committed to provide VND20 trillion (nearly USD1 billion) in loans for key projects in Ha Nam.

Phu Ly city in Ha Nam province. (Photo: chinhphu.vn)

Accordingly, the capital will be mostly for infrastructure investment of industrial zones with special priority given to mechanical engineering, supporting industry, hi-tech industry, livestock industry and manufacturing and processing industries.

The Ha Nam provincial People’s Committee also signed a cooperation agreement on socio-economic development for the period 2016 - 2020 with BIDV, signed memorandum of understanding on cooperation with and awarded investment registration certificates and investment approval to 10 enterprises with total value of more than VND17 billion. These include a semiconductor and LED project of Seoul Semiconductor Group in Dong Van 1 IZ with total investment of USD300 million.

In addition, BIDV Ha Nam signed four memorandum of understanding on providing credit worth nearly VND4 trillion to the locality.

For the 2016-2020 period, BIDV will continue collaborating with Ha Nam to promote the province’s socio-economic development, focusing on two main areas, namely planning of Phu Ly city and planning of Ha Nam tourism.

Furthermore, the bank has contributed to social security in the province by awarding three ambulances to district hospitals in Ly Nhan, Binh Luc and Duy Tien with a total value of VND3 billion, increasing the social security donation to VND35 billion and focusing on health, education, rural development, and sustainable poverty reduction.

Chairman of the provincial People’s Committee Nguyen Xuan Dong said Ha Nam will offer every favorable condition for investors through incentives on land hiring, infrastructure, administrative procedures and delivering land without collecting money to help enterprises build housing for workers and assist them to train and recruit workers./.

BTA

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