Under the agreement, Maritime Bank will provide the State-owned group such services as local and international payment, credits, risk management, and foreign exchange. In addition, the bank will provide consulting and financial services to raise long-term capital for Vinacomin in local and international financial markets.

Moreover, the two sides also agreed to consider opportunities to jointly invest in projects.

Le Minh Chuan, CEO of Vinacomin, said in a statement that Vinacomin’s capital demand was around US$1.6 billion annually to fund its projects. Therefore, the support from credit institutions like Maritime Bank is very important for the group, he said.