Ho chi MInh City, On December 23 2016, SAVICO Company held the signing ceremony of strategic cooperation agreement between it and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) for the period 2016 -2021

The ceremony had the participation of Mr. Nguyen Hoang Dung - Vice General Director of Vietinbank, Mr. Nguyen Binh Minh - Chairman of the Board of Directors of SAVICO, Mr. Mai Viet Ha - General Director of SAVICO and managers from all Vietinbank and SAVICO systems.

“The strategy of SAVICO for the period 2015 - 2020 is to become the leading specialized service company with the Commercial Service as its essential field, especially the automobile service; the real estate service and the financial service supporting the commercial service. With such strategy orientation, SAVICO needs to look for and associate with a potential bank to develop together”, said Mr. Mai Viet Ha - General Director of SAVICO at the ceremony. He also said: “SAVICO has trusted in and selected Vietinbank as a strategic partner bank to go together in the next stage. This cooperation will not only be for the interests of Vietinbank and SAVICO but also for the member units and branches of two parties, will contribute to the economic growth and thereby will contribute more to the development of community and society”

Ông Mai Việt Hà – TGĐ Công ty CP SAVICO phát biểu tại buổi lễ

The signing ceremony of all-sided strategic cooperation agreement for the period 2016 - 2021 between Vietnam Joint Stock Commercial Bank for Industry and Trade - Vietinbank and Saigon General Service Corporation -SAVICO marked the cooperation for sustainable bilateral development. Vietinbank will support SAVICO and member units of the system in the stabilization and strengthening of financial potential to expand the distribution system and increase the competitive advantage in accordance with the strategy of SAVICO system

Also at the ceremony, Vietinbank Branch No. 10 concluded the Principle Contract on short-term funding with 02 member units of SAVICO representatives which are Toyota East Saigon Joint Stock Company and Nam Song Hau Automobile Joint Stock Company.

 Until December 2016, Vietinbank Branch No. 10 has provided funds with a total Credit Limit of 785 billion dongs and an account outstanding of 418 billion dongs. In particular, Nam Song Hau Automobile Joint Stock Company (Automobile Honda Can Tho) has been provided funds by Vietinbank Branch No. 10 since the beginning (in May 2015). Despite the geographical distance, Vietinbank Branch No. 10 made a medium-term loan quickly to Automobile Honda Can Tho to build a spacious and modern infrastructure and additional short-term loans to develop its business activities.

Therefore, SAVICO believes that the association between Vietinbank and SAVICO will be a turning-point for the cooperation and sustainable development of two parties.