OREANDA-NEWS. On October 28, 2008 VTB Bank and Bank for Investment and Development of Vietnam (BIDV) signed a Memorandum of Cooperation in the presence of Nguyen Minh Triet, President of the Socialist Republic of Vietnam, reported the press-centre of VTB Bank.

The document provides for stronger cooperation in trade finance, investment project support, treasury operations and operations in international capital markets, as well as support and assistance in current operation and further development of Vietnam-Russia Bank (VRB).

The signing ceremony was attended by Andrei Kostin, JSC VTB Bank President and Chairman of the Management Board; Bui Ding Zing, Ambassador of the Socialist Republic of Vietnam; Vadim Seraphimov, Ambassador of Russia to Vietnam; Tran Bac Ha, Chairman of BIDV Board of Directors; Nguyen Van Pham, VRB General Director, as well as other high-ranked officials and representatives of business community from the two countries.