Seminar on “International Investment Bank and Vietnam: Common Opportunities for Development”

Also attending the Seminar, there were representatives of some SBV departments; representatives of relevant ministries, agencies, domestic commercial banks, funds, investment firms, economic groups and enterprises, as well as the media.

Deputy Governor Nguyen Thi Hong speaks at the Seminar

In her opening speech, SBV Deputy Governor Nguyen Thi Hong spoke highly of the initiative to organize the Seminar for the purpose of creating an effective bridge between the IIB and its potential partners in Vietnam, at the same time, creating opportunities for stakeholders to study the possibilities of cooperation, as well as suitable financial products in accordance with needs of Vietnamese enterprises and commercial banks; exploring and utilizing the needed resources for development investment via non-state and private sectors without the need for government guarantees.

IIB Chairman Nikolay Kosov makes a speech at the Seminar

Also at the seminar, IIB Chairman Nikolay Kosov discussed about the orientations and main activities of the IIB, as well as the IIB’s operations in Vietnam. He shared that in 2019 the IIB will implement numerous significant activities in order to enhance the IIB’s operations in the member countries, including Vietnam. Moreover, other members of the IIB’s Board of Directors also provided more specific information about the Bank's business operations, and answered many questions related to the IIB’s credit access; thereby, proposed appropriate financial products/cooperation mechanisms, as well as the directions of sustainable cooperation in the coming time, aiming at meeting the needs for long-term investment capital in Vietnam.

In Vietnam, the IIB has made great efforts in developing its credit operations 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 financing, infrastructure development, etc. According to the IIB’s Country Strategy for Vietnam during the period of 2018 - 2022, the IIB’s support in Vietnam is expected to reach a value equivalent of EUR 300 million.

International Investment Bank (IIB) is a multilateral development Institution, created by member states in 1970. The agreement to form the bank was signed on 10 July 1970 and registered with the United Nations Secretariat.

The Bank shareholders are 9 sovereign states including Republic of Bulgaria, the Republic of Cuba, the Czech Republic, Hungary, Mongolia, Romania, the Russian Federation, the Slovak Republic, and the Socialist Republic of Vietnam. The paid – in capital of the IIB is EUR 325.96 million and the authorized charter capital is EUR 2 billion.

At the end of 2018, the Bank’s assets reached EUR 1.194 million; the loan portfolio reached EUR 753 million including loans granted in all nine member states.

For strategic vision of the Bank by the end of 2022, IIB aims to raise total assets to EUR 1.7 billion and expand the loan portfolio to EUR 1.2 billion, increases volume of bonds issuances including in national currencies of the member states; become an acclaimed niche lending institution capable of executing medium sized projects to promote the development of the member states’ national economies.

 

Le Hang