Seminar “International Investment Bank and Vietnam: General opportunities for development”

International Investment Bank (IIB) cooperated with the State Bank of Vietnam (SBV) to hold a seminar "International Investment Bank and Vietnam: Common Opportunities for development . SBV Deputy Governor Nguyen Thi Hong attended and spoke at the talk. On the side of IIB, there was the Chairman of the Board of Directors Nikolay Kosov, IIB Vice President Geory Potapov and the Director of the relevant departments.

Participating in the seminar were representatives of leaders of some departments, SBV; representatives of ministries, domestic commercial banks, some funds, investment enterprises and economic groups of enterprises, Vietnamese commercial banks and some press agencies.

PlayIn the opening speech, the SBV Deputy Governor Nguyen Thi Hong said that since the end of 2012, with the support of member countries, including Vietnam, IIB has strongly implemented important measures to comprehensive restructuring and transformation of IIB into a modern development bank operating according to international standards, promoting the development of credit activities in both scale and funding areas, strengthening position and support IIB support for member countries and mutual support among member countries. The Deputy Governor highly appreciated the Seminar for the purpose of creating an effective bridge between IIB and potential partners of Vietnam and at the same time creating opportunities for stakeholders to explore the possibility of cooperation and financial products. suitable to the needs of Vietnamese enterprises and commercial banks;

Also at the seminar, Chairman of IIB's Board of Directors Nikolay Kosov discussed about the orientation and main activities of IIB, activities of IIB in Vietnam. He said that 2019 was a year IIB implemented many important activities to promote activities of IIB with member countries, including Vietnam. In the past time, with many efforts to restructure the bank, IIB has implemented a series of reform measures to convert IIB into a modern development bank with international credit rating level at A, the financial potential is significantly enhanced through the increase of charter capital, in particular member countries agreed to increase capital for IIB in the period of 2018-2022 by an additional 200 million EUR and to relocate the headquarters of IIB from Mascow (Russia) to Budapest (Hungary).

Currently the Bank has 9 members including Bulgaria, Cuba, Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam, with a total contribution of member countries of 325.96 million. EUR; chartered capital is EUR 2 billion. Total assets of Bank IIB by the end of 2018 reached EUR 1.2 billion; Loan outstanding reached 753 million EUR including grants in all 9 member countries.

WithThe objective of restoring the position and strengthening investment cooperation with member countries, IIB is focusing strongly on expanding investment activities not only in the financial sector but also wants to provide loans to businesses in member countries; expand loan objects to large enterprises and commercial banks. For Vietnam, IIB also wants to expand the lending target of large-scale enterprises besides small and medium enterprises which are existing customers of IIB. Regarding lending activities, IIB will focus on areas such as financing modernization projects; sponsoring import-export enterprises, small and medium enterprises; merger projects (S and A), trade finance and technical assistance. On the basis of supporting member countries, IIB will promote integration to enhance cooperation among countries,

At the seminar, members of the IIB Management Board provided more specific information about the Bank's business activities and answered many related questions about the accessibility of loans of IIB. Thereby proposing appropriate financial products / cooperation mechanisms, as well as the direction of sustainable cooperation in the coming time, aiming to solve the need for long-term investment capital in Vietnam.

In Vietnam, IIB has made great efforts in developing credit activities in Vietnam over the past time through loans granted to Vietnamese commercial banks (Vietinbank, BIDV, VPBank, VPBank Finance, Home Credit Finance, SHB ) for the purpose of supporting the development of Vietnam's small and medium enterprises, trade finance, infrastructure development ... According to the national strategy of IIB with Vietnam in the period 2018 - 2022, IIB is expected activities in Vietnam totaled about 300 million EUR.

Source: STATE BANK OF VIETNAM