BIDV to operate a Japan desk to support Japanese enterprises. Photo giaothongvantai.com.vn

HA NOI (Biz Hub)— The Bank for Investment and Development of Viet Nam (BIDV) and Japan Bank for International Co-operation (JBIC) signed a business co-operation agreement on Wednesday which provides for BIDV to operate a Japan Desk.

The agreement also provides for JBIC to arrange loans for Japanese Small and Medium Sized Enterprises' (JSMEs) to conduct business activities in Viet Nam and for BIDV to set up and operate a Japan Desk, designed solely to support Japanese enterprises.

The co-operation agreement comes as a result of a Japanese government initiative from last December designed to support Japanese SMEs in Asia, for which JBIC is the regional co-ordinator for financial support services through local banks across the Asian region.

In April, BIDV established a working group to implement a Japan Desk and be ready to provide diverse financial services with competitive pricing, from deposit, payment, cash management, trade financing, as well as other advisory services. —VNS