State-owned Vietnam Post and Telecommunications Group (VNPT) has signed a cooperation agreement worth 25 trillion dong ($1 billion) with the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). Under the deal, BIDV will arrange capital for the projects of VNPT and VNPT’s member firms. The bank will also offer modern financial products and services to VNPT at competitive prices. VNPT will use BIDV’s credit and non-credit products such as insurance, financial restructuring, bond issuance consultancy and cash flow management.
