Business

Vietnamese bank increases support for businesses in Russia

The Bank for Investment and Development of Vietnam (BIDV) officially launched its working team in the Russian market at a ceremony in Moscow on November 22.

The Bank for Investment andDevelopment of Vietnam (BIDV) officially launched its working team inthe Russian market at a ceremony in Moscow on November 22.

The launch ceremony saw the presence of Vietnamese Ambassador toRussia Nguyen Thanh Son, BIDV Chairman Tran Bac Ha, and representativesfrom Vietnamese and Russian businesses.

The team is thethird unit of BIDV operating in the East European market, following theIDCE International Company and the BIDV Representative Office set up inthe Czech Republic in 2010 and 2012, respectively.

Its aim is to further promote trade and investment between Vietnamand Russia and assist Vietnamese businesses in increasing theirexports and investment in this market.

It will set upconnections with local banks to provide timely support for Vietnamesefirms as well as update them on information on Russia’s political andsocio-economic situation.

The working team was a preparation for the establishment of the BIDV representative office in Russia.-VNA

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