DIC GROUP AND BIDV SIGNED A COMPREHENSIVE COOPERATION AGREEMENT FOR THE PERIOD OF 2024 – 2028

On April 5^th, 2024, DIC Group and Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) organized the "Signing Ceremony of a comprehensive cooperation agreement for the period 2024 - 2028" in Vung Tau city.

The signing ceremony

Attending the signing ceremony, on behalf of the State Bank of Ba Ria - Vung Tau province, there was: Mr. Nguyen Loi - Director.

On BIDV's side, there were: Mr. Le Ngoc Lam – General Director; Mr. Tran Long – Deputy General Director; Mr. Doan Vietnam – Deputy General Director; Mr. Le Manh Hung – Director of BIDV Ba Ria – Vung Tau branch and a number of leaders of departments and branches.

On the side of DIC Group, there were: Mr. Nguyen Hung Cuong – Permanent Vice Chairman; Ms. Nguyen Thi Thanh Huyen – Vice Chairwoman; Mr. Dinh Hong Ky - Independent Board Member; Mr. Nguyen Quang Tin – General Director, together with members of the Executive Board, leaders of departments and representatives of member companies of DIC Group.

The cooperation relationship between DIC Group and BIDV as well as the important partner role has been affirmed through the milestone of financing and providing capital for projects that DIC Group have been implementing.

The year 1996 marked the milestone of bilateral relations with BIDV financing the project of Chi Linh Center - the first new urban area in Ba Ria - Vung Tau province. Since then, BIDV has participated in financing many projects invested by DIC Group, providing regular annual working loan limits and participating in financing capital for buyers of products of DIC Group's projects. Especially, in December 2023, BIDV has approved a credit line of VND 2,000 billion for investment in Nam Vinh Yen New Urban Area project. This is the largest credit line ever approved by BIDV for a DIC Group's project.

Accordingly, the signing of a comprehensive cooperation agreement for the period of 2024 – 2028 is a continuation and affirmation of the prestigious and traditional cooperation relationship between DIC Group and BIDV.
 

Mr. Le Ngoc Lam - General Director of BIDV speaking

Speaking at the opening ceremony, Mr. Le Ngoc Lam – General Director of BIDV highly appreciated and congratulated DIC Group's achievements throughout the 34-year journey. "The development with a methodical strategy, pioneering investment in building new urban areas in satellite cities is a clear evidence to help the Group maintain its ranking in the Top 10 most prestigious real estate developers in Vietnam", emphasized BIDV's General Director.

Mr. Nguyen Hung Cuong - Vice Chairman of DIC Group speaking

At the event, Mr. Nguyen Hung Cuong – Vice Chairman of DIC Group affirmed: "Through the process of accompanying nearly 30 years, through many ups and downs of the market, DIC Group assessed that BIDV is one of the banks with modern operating mechanisms, has supported businesses in general and DIC Group in particular to accelerate the project progress, increase production and business efficiency and investment".

Mr. Nguyen Quang Tin - General Director of DIC Group and Mr. Le Manh Hung - Director of BIDV Ba Ria - Vung Tau branch signed a comprehensive cooperation agreement for the period 2024 - 2028

According to the Comprehensive Cooperation Agreement for the period of 2024 - 2028, BIDV will provide comprehensive financial solutions for DIC Group such as banking products, securities, insurance... reasonable, preferential and competitive compared to interest rates and fees in the market and according to regulations of the State Bank and internal regulations of BIDV in each period. DIC Group commits to create conditions for BIDV to access financial financing, provide banking and financial products and services.

Within the framework of the agreement, BIDV Nam Ky Khoi Nghia branch and BIDV Ba Ria – Vung Tau branch will consider financing investment capital for Phase 2 & 3 of Cap Saint Jacques Complex Project (Vung Tau City) including: 5-star hotel block (Block C3) and tourist apartments and hotel block (Block C4) with total investment near VND 2,700 billion and the total credit value is expected to be VND 1,500 billion.

Representatives of DIC Group and BIDV took souvenir photos of the event

The signing ceremony marks an important step between BIDV and DIC Group, creating a solid premise for a period of "Accompanying – Developing", contributing to the overall socio-economic development of the country.

Media and Communication Department