BIDV branch in Myanmar in the pipeline
(VOV) - The Bank for Investment and Development of Vietnam (BIDV) recently signed a deal with Yagoon-based Small and Medium Industrial Bank (SMIDB), paving the way for the establishment of a BIDV branch in Myanmar.
With this agreement, BIDV and SMIDB will be fellow partners ensuring long-term and unshakeable cooperation through close supports in order to promote each side’s strengths and potentials in such fields as information exchange, service development, monetary and foreign exchange.
In addition, the two sides will regularly meet to explore opportunities for enhanced cooperation in other areas. BIDV will support SMIDB in information technology application, career consulting, training and surveys in Vietnam.
BIDV CEO Tran Bac Ha said that the agreement will help BIDV establish firm relations with Myanmar’s financial institutions and facilitate expansion of the bank’s business operation in Myanmar in the future.
Vietnam ambassador to Myanmar Pham Thanh Dung proposed that Myanmar’s Government continue to create favourable conditions for BIDV to boost cooperation with other financial institutions, including founding a BIDV branch in Myanmar.