Vietcombank and PetroVietnam Gas Corporation (PV GAS) signed a comprehensive strategic co-operation agreement in the central city of Quy Nhon earlier this week.

The agreement marked an important step in cooperation between the two sides.

Under the agreement, Vietcombank and PV GAS agreed to ensure transparency, competitiveness and effectiveness in their cooperation.

Vietcombank will provide overall financial packages, including project financing, international payment, money flow management and individual finance with numerous preferential policies to PV GAS.

The two sides also signed a credit contract on the same day. According to the contract, Vietcombank will provide a short-term credit of VND4 trillion to supplement floating capital to PV GAS and its subsidiaries.

They will also enhance cooperation in retail services.

Speaking at the signing ceremony, Nghiem Xuan Thanh, Vietcombank’s management board chairman,said the bank and PV GAS had been co-operating for 28 years.

“Vietcombank shared the key role of PV GAS in the Viet Nam gas industry development master plan as well as in implementing targets in the country’s petrolimex development strategy,” Thanh said, adding that the two sides will create success in their own business strategies, diversifying cooperation both domestically and globally. — VNS