Bulgarian Development Bank and Vietnam Development Bank will cooperate in support of small and medium sized enterprises

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Bulgarian Development Bank (BDB) and the Vietnam Development Bank (VDB) will cooperate in the fields of small and medium sized enterprises support, agriculture development and export of goods and services between the two countries. This is outlined in the Memorandum of Cooperation signed on 17 October, in Hanoi. Due to their special status of governmental development banks, BDB and VDB consider that the bilateral cooperation will strengthen the trade and economic relations between Bulgaria and Vietnam and will increase the efficient use of their resources.

The event is organized as part of the working visit of Mr. Bojidar Lukarski – Minister of Economy, in Vietnam. During the visit a business forum and bilateral meetings between business representatives from the two countries will take place. The initiative is a continuation of the undertakings agreed during the 23rd session of the Intergovernmental Bulgarian-Vietnamese Committee for Trade, Economic, Scientific and Technical Cooperation, for encouragement of the direct relations between Bulgarian and Vietnamese business circles.

By signing the Memorandum, the Bulgarian Development Bank extends its cooperation with banks from the region as until now BDB has established partnership with financial institutions from Japan, China, Korea, Mongolia and Iran.

The Vietnam Development Bank has more than 10-years of experience in investment and export financing. The Bank also implements programs in sectors such as infrastructure, water supply, energy efficiency and others.