OREANDA-NEWS. The Bank of Russia has taken a decision to accredit a representation office of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) in Moscow.

The opening ceremony was attended by Prime Minister of Vietnam Nguyen Xuan Phuc.

The Bank for Investment and Development of Vietnam is the oldest and one of the biggest national credit institutions. The Bank plays a significant role in the financial dialogue between Russia and Vietnam, and on the instructions of the heads of governments of the two countries jointly with the VTB Bank (PJSC) it participates in the pilot project of bilateral settlements in national currencies.

Besides, BIDV enjoys the role of a co-founder of the Vietnam-Russia Joint Venture Bank – the only bank with Russian participation in the Vietnamese market.

‘The opening of this representation office is quite a landmark not only for the Vietnamese bank but for a further development of cooperation between Russia and Vietnam’, Dmitry Skobelkin, Deputy Governor of the Bank of Russia, said at the opening ceremony.

Dmitry Skobelkin handed in the accreditation certificate of the representation office of the Bank for Investment and Development of Vietnam in the city of Moscow to its CEO Phan Duc Tu.