BIDV Hai Duong strives to inject capital into FDI sector

Shints BVT Co., Ltd., a wholly South Korean-invested company in Hai Duong city, established a relationship with BIDV Hai Duong right after foundation in 2006.

“In 2014, we needed additional bank loans to realize a scale expansion strategy, focusing on production and business development, and were enthusiastically supported by BIDV Hai Duong. Since then, we have always considered this bank a trusted companion,” said Ngo Thi Huong, Chief Accountant of Shints BVT Co., Ltd.

Especially, due to the impact of the Covid-19 pandemic as well as economic recession, the enterprise was entitled to interest rate reduction and lent more loans from time to time according to actual needs in production activities, helping the firm have more resources for recovery and development.

The company has so far created stable jobs for more than 4,000 direct laborers at two facilities in Hai Duong province.

Many other large FDI enterprises in Hai Duong have also been using capital and services of BIDV Hai Duong, such as the limited liability companies of Hyundai Kefico Vietnam, GFT Vietnam, Vietnam Toyo Denso, etc.

From Covid-19 outbreaks to the volatile period of world economy in 2023, then global economic recession and recovery from the beginning of 2024, BIDV Hai Duong has always maintained its growth targets. The bank’s mobilized capital and outstanding loans had reached 16,965 billion VND and 13,624 billion VND by May 31, 2024, up 12% and 14% year on year, respectively.

“We have surveyed the markets of FDI customers in the direction of offering the best services,” said Pham Van Thai, Head of the FDI Department of BIDV Hai Duong.

After nearly two years of operation, the department had served nearly 100 FDI businesses from China, South Korea, Japan, the US, and some European countries by the end of May 2024, an increase of 21 customers compared to the end of 2022.

The potential of the FDI sector to commercial banks in general and BIDV Hai Duong in particular remains high, especially in the context of Vietnam’s intensive international integration through new-generation free trade agreements.

“Most FDI enterprises are multinational corporations with experience in investment in many places around the world, strong financial foundations, and extensive international business understanding. Therefore, BIDV Hai Duong in general and the FDI Department in particular must provide the most comprehensive and modern services,” said Nguyen Dinh Khanh, Deputy Director of BIDV Hai Duong.

HA KIEN