Welcoming the high-level delegation from the Lao State Inspectorate to BIDV, Le Ngoc Lam, General Director of BIDV, highlighted that with 67 years of development, BIDV has consistently adhered to the directives and guidelines from the Government and the State Bank of Vietnam. The bank has made significant efforts to innovate and meet all business targets comprehensively, serving as a key player in implementing effective monetary policies and supporting customers to contribute to economic recovery and development.

Despite facing a challenging and volatile business environment in the first five months of 2024, BIDV has managed its operations safely and smoothly, achieving notable results. Specifically, the bank’s total assets reached nearly VND 2.32 trillion (approximately USD 90 billion), a 2.7% increase from the beginning of 2024, continuing to be the largest commercial bank by total assets in Vietnam.

BIDV’s network spans widely with 1,085 branches and transaction offices both domestically and internationally, 10 subsidiaries, and commercial presences in Laos, Cambodia, Myanmar, Russia, and Taiwan (China). With over 28,000 well-trained and experienced staff, BIDV serves more than 19 million individual customers and nearly 500,000 corporate clients, maintaining relationships with over 2,300 financial institutions in 178 countries and territories worldwide.

Furthermore, in alignment with the Vietnamese Government's major policies on expanding foreign relations and international cooperation, BIDV is a leading financial institution alongside Vietnamese businesses in investing and operating abroad. Laos was the first international market where BIDV established a presence in 1999 by partnering with the Lao Foreign Trade Bank (BCEL) to create the Laos-Vietnam Joint Venture Bank, implementing the Vietnam-Laos Cultural, Scientific, and Technological Cooperation Agreement as directed by the leaders of both countries.

In the Lao market, BIDV has recently undertaken numerous activities, including providing loans and financing key economic and political projects that contribute to Laos's socio-economic development. To date, BIDV has directly financed 11 projects with a total commitment of over USD 480 million. These projects have proven effective, significantly contributing to infrastructure and socio-economic development in Laos, facilitating transportation and trade between the two countries, and creating hundreds of thousands of jobs in Laos. Additionally, BIDV's investment activities, including capital contributions and support for its commercial presences in Laos, have positively impacted the implementation of monetary policies and contributed to the Lao budget through tax revenues.

Looking ahead, BIDV continues to view Laos as a strategic and long-term market for its international investment activities and network expansion. BIDV's commercial presences in Laos are tasked not only with maintaining and growing their core business operations but also with promoting economic, investment, political, trade, cultural, and security relations between Vietnam and Laos.

BIDV will continue to support and guide its operations in Laos to fulfill political and economic tasks assigned by the Party, State, and Government. The bank is committed to developing practical and robust solutions to conduct systematic, long-term, and effective business operations, complying with local legal regulations, and establishing strong and sustainable relationships with Lao partners, businesses, and citizens. BIDV aims to be a friendly, socially responsible, and highly reputable partner.

On behalf of the high-level delegation of the Lao State Inspectorate, Khamphan Phommathat thanked BIDV for its warm welcome and congratulated the bank on its achievements and results throughout its development. He acknowledged BIDV's successful implementation of Party and State directives, which has contributed to Vietnam's socio-economic development and business network expansion, including its commercial presence in Laos.

Khamphan Phommathat commended BIDV for its effective loan disbursements, project financing, investment activities, and support for its commercial operations in Laos. He recognized the bank's positive contribution to monetary policy implementation and its role in advancing Laos's socio-economic development and infrastructure. He wished BIDV continued success and development, further strengthening the relationship between Vietnam and Laos.

Earlier, during the visit to Vietnam, on June 3rd, the high-level delegation of the Lao State Inspectorate, led by Khamphan Phommathat, visited and worked at the Viettel Group. Also present was Duong Quoc Huy, Deputy Inspector General of the Vietnamese Government.

Providing an overview of its business and investment activities in Laos, Major General Do Minh Phuong, Deputy General Director of Viettel, reported that Viettel began its investment in Laos in February 2008 through a joint venture. In October 2009, the company officially launched its mobile network under the Unitel brand. After 14 years of operation, Unitel is now the largest telecommunications provider in Laos with 3.5 million subscribers, holding a 57% market share. It is also one of the largest contributors to the national budget and has created jobs for approximately 27,000 employees. Both the Lao Party and Government have recognized Unitel as a model for economic cooperation.

Viettel has established 9,441 transmission stations, including about 4,788 4G stations, and has laid over 37,500 kilometers of optical fiber. Unitel is proud to have built the largest network infrastructure, covering 100% of districts in the country, with 4G services reaching 70% of villages. This has positioned Laos among the countries in Southeast Asia with the best 4G coverage and speed, providing high-speed internet access to all citizens. Viettel has also conducted several meaningful social programs, such as providing free internet to schools, training hundreds of high-quality IT professionals for Laos, and supporting the construction of schools and health stations, as well as aiding communities affected by floods, natural disasters, and COVID-19.

Expressing gratitude for Viettel's warm reception, Khamphan Phommathat emphasized that over the past 30 years, Viettel has consistently strived to innovate and expand, building a stronger organization. He wished Viettel continued success and growth, and encouraged further expansion of business and investment cooperation in Laos.