VPBank and HFIC signed an agreement to promote capital for Ho Chi Minh City's development.

Ho Chi Minh City State Financial Investment Company (HFIC) and Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) have just signed a cooperation agreement to increase capital mobilization and promote investment in key infrastructure projects of the city.

Mr. Phung Duy Khuong (3rd from right) - VPBank representative attended the signing ceremony - Photo: VPB

VPBank strives to mobilize and optimize capital for infrastructure projects in Ho Chi Minh City. The signing ceremony took place on January 6, with the participation of city leaders and representatives of 9 major banks. Mr. Phung Duy Khuong - Standing Deputy General Director in charge of the South, Director of the individual customer segment representing VPBank - attended the event. The event was held within the framework of implementing Resolution No. 98/2023 of the National Assembly on piloting a number of specific mechanisms for the development of Ho Chi Minh City, with the goal of promoting the interest rate support program. At the same time, the signing ceremony marked efforts in mobilizing and optimizing capital from financial institutions, to implement key infrastructure and socio -economic development projects of the city. According to the cooperation agreement, VPBank is ready to provide products and services to HFIC, including syndicated lending activities, service provision and especially cooperation in resource mobilization and infrastructure development support. Specifically, the two sides will jointly research and implement appropriate financial mechanisms to mobilize capital for key infrastructure development projects in Ho Chi Minh City, contributing to promoting the city's sustainable socio-economic development. VPBank is committed to accompanying HFIC in providing credit capital as well as flexible financial solutions, joining hands to build Ho Chi Minh City into a leading dynamic and modern economic and financial center in the region. Through the cooperation agreement with HFIC and its strong presence in Ho Chi Minh City, VPBank continues to affirm its commitment to accompany the city, not only in the financial field but also in sustainable development programs, aiming to improve the quality of life of the people. Ho Chi Minh City needs to mobilize 620,000 billion VND. Speaking at the signing ceremony, Mr. Phan Van Mai - Chairman of the Ho Chi Minh City People's Committee - emphasized that this cooperation opens up many new spaces between the city and banks and financial institutions. With the current GRDP scale reaching 1.78 million billion VND and the double-digit growth target according to the central government's policy, Ho Chi Minh City needs to mobilize about 620,000 billion VND from many different sources, including 370,000 billion VND from the banking system. Chairman Phan Van Mai expects this cooperation not only to bring capital to the city but also to help banks provide experience in project evaluation and management, improving the ability to implement key projects. In order to contribute to the sustainable development of Ho Chi Minh City, in August 2024, VPBank officially opened its Flagship branch here. VPBank is proud to be the first bank to launch a Flagship branch in Vietnam, demonstrating its vision towards perfect customer service and pioneering position in the digital age. During more than 30 years of establishment and development, VPBank has become one of the leading joint stock commercial banks in Vietnam. VPBank's comprehensive financial ecosystem is serving more than 30 million customers in many diverse segments from consumer finance, retail banking, small and medium enterprises to large enterprises and FDI. VPBank is continuously in the top 3 largest joint stock commercial banks in lending and capital mobilization in Vietnam with comprehensive financial solutions and the goal of creating long-term, sustainable value for the development of the community and society. VPBank not only supports customers in financial management but also actively participates and contributes to sustainable development initiatives, associated with environmental and community values, affirming the mission "For a prosperous Vietnam". HFIC is a public financial institution of the city, assigned the mechanism of being the focal point for lending to implement the interest rate support program for projects in fields according to the socio-economic development goals of Ho Chi Minh City. HFIC connects and mobilizes maximum resources to promote and support the development of the business community in the city. Source: https://tuoitre.vn/vpbank-va-hfic-ky-ket-thoa-thuan-thuc-day-nguon-von-phat-trien-tphcm-20250110140043609.htm