BIDV Yangon : Aims To Have Assets Of 300 M USD In 3 Years

The Bank for Investment and Development (BIDV) launched its Yangon branch on Sunday. 

It is among the series of events that BIDV co-organizes including 4 countries-one destination conference on connecting tourism and expanding cooperation in banking sector among Cambodia, Laos, Myanmar and Vietnam.

CEO, BIDV, Dang Hai Nha: "At this moment, the branch will invest 85 million USD paid in capital and we do have plan to run business here for the next 2 or 3 hundred years."

BIDV has been cooperating with Myanmar since the past 6 years and currently, Vietnam is the 10th largest foreign investors with total FDI of 693.3 million USD. 

CEO, BIDV, Dang Hai Nha: " BIDV also run its branches Laos, Cambodia, Czech and many other countries so we have experiences in develop banking business in developing countries so it's a very good foundation for us here to cooperate with local banks and to promote to the development of banking sectors. "

BIDV Yangon will provide products tailored to the transactions between Vietnam and Myanmar. It has a set plan for the next 3 years total assets of around 300 million USD and become a top 5 foreign branch bank here in term of total assets and efficiencies.