Industrial Commercial Bank of Viet Nam (Incombank) will act as PetroVietnam’s primary provider of financial services under an agreement signed on June 21 Ha Noi.
PetroVietnam will also offer Incombank opportunities to directly invest in domestic and overseas projects, said Tran Ngoc Canh, general director of the State-owned oil company.
”I do believe that this cooperation will bring more opportunities for both of us in terms of supporting investment capital, expanding operational networks, diversifying business sectors, and exploiting each other’s advantages,” said Incombank general director Pham Huy Hung at the signing ceremony on June 21.
Under the agreement, Incombank would commit loans at favourable interest rates as well as provide other financial services to PetroVietnam and its subsidiaries.
Since the beginning of the year, Incombank has signed similar agreements with local giants like the Viet Nam National Cement Corporation (VNCC), the Viet Nam National Coal and Mineral Industry Group (Vinacomin), and the Viet Nam Post and Telecommunications Group (VNPT).
Hung also said Incombank has speeded up negotiations with leading local companies to become strategic partners as it expands.
Source: VNA
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