BIDV named as best foreign exchange provider for third time
The Bank for Investment and Development of Vietnam (BIDV) has been named as the best provider of foreign exchange services in Vietnam by Asiamoney magazine.
The Bank for Investment and Development of Vietnam (BIDV) has been named as the best provider of foreign exchange services in Vietnam by Asiamoney magazine, becoming the third-time recipient of the prestigious award voted by financial institutions and businesses.
The bank has also been named the best for foreign exchange research and market coverage in Vietnam by the Asian leading regional financial publication.
The annual award, voted by 394 financial institutions and more than 1,900 businesses, is to honour financial institutions across Asia-Pacific in foreign exchange and financial analysis.
In 2012, BIDV was picked as the best overall domestic cash management services and best overall cross-border cash management services by the magazine.
Also during the year, the world’s leading financial magazine, Euromoney, named the bank as the best domestic trade finance provider in Vietnam.
BIDV’s total assets rose 85 times from 8.7 trillion VND (399 million USD) in 1995 to 730 trillion VND (33.4 billion USD) in 2015, making it one of the largest banks in Vietnam.
The bank's mobilised capital increased 337 times from 1.7 trillion VND (77.9 million USD) to 574 trillion VND (26.3 billion USD); its credit rose 100 times from 5.3 trillion VND (243 million USD) to 535 trillion VND (24.5 billion USD), while its charter capital jumped from 247 billion VND (11.3 million USD) to 31.4 trillion VND (1.4 billion USD).
The bank's pre-tax profit also rose from 221 billion VND (10.1 million USD) to 6 trillion VND (275.2 million USD) after 20 years of transition into the commercial bank model.
It has contributed 12 trillion VND (550.46 million USD) to the State budget so far.-VNA
The Bank for Development and Investment of Vietnam (BIDV) will splash out 10.9 trillion VND (506.9 million USD) to support enterprises investing in garments, construction and tourism service sectors.
Tran Bac Ha, Chairman of the Board of Directors of the Bank for the Investment and Development of Vietnam (BIDV), said that the bank would raise the total available credit in Mekong Delta region.
The State-run Bank for Investment and Development of Vietnam (BIDV) has become a trustful investor in Laos and an example of bilateral cooperation development, a Lao senior official said.
The Bank for Investment and Development of Vietnam (BIDV) on August 24 signed a pact with Kyoto Bank on serving its Japanese business clients operating in Vietnam.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative image (Source: VNA)
