With the vision of becoming a pioneer bank providing comprehensive solutions and contributing to the completion of the import-export ecosystem, the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has joined hands with two prestigious partners in the field of technology and logistics. That is the cooperation with FPT IS Company Limited (FPT IS) to build a digital ecosystem for import-export business customers and the cooperation with Vinafco Joint Stock Company on warehouse management...
Join hands to build a digital ecosystem for import-export enterprises
FPT IS is one of the leading technology companies in Vietnam and has been a partner of BIDV in implementing many key technology projects for nearly 3 decades.
On that basis, BIDV and FPT IS continue to cooperate to develop the first digital ecosystem in Vietnam for import-export enterprises based on the TradeFlat platform developed by FPT IS. This marks a breakthrough in the digitalization of international trade activities: For the first time in Vietnam, a digital platform integrating a variety of banking, shipping, customs, insurance, logistics services, etc. is developed on a single technology system.
“The project is of great significance, raising the standards of Vietnam's import and export activities, facilitating trade flows, suitable for domestic units and meeting the standards of international partners,” affirmed Mr. Tran Dang Hoa - Chairman of FPT IS.
TradeFlat helps BIDV's import-export business customers transact quickly, minimize procedures, optimize costs, and seamlessly connect with all partners in the trade supply chain, providing a comprehensive and effective digital experience. Based on this platform, BIDV, FPT IS and organizations serving international trade activities can diversify trade finance products for import-export businesses in the future.
Flexible warehouse management and collateral conversion cooperation
Vinafco Joint Stock Company (Vinafco) is one of the leading logistics enterprises in Vietnam, providing integrated services with products such as warehouse management, delivery, transportation, and distribution, etc. Regarding warehouse management, Vinafco owns 7 warehouses with a total area of 230,000 m² in key locations. In addition, Vinafco has professional warehouse management software and processes and deploys a variety of services: managing warehouses/distribution centers built by Vinafco itself; managing existing warehouses/factories of customers... Vinafco can provide effective logistics solutions and flexibly meet customers' needs.
Based on the potential between the two parties, BIDV and Vinafco have reached an agreement on cooperation in providing Vinafco's warehouse management service as collateral for loans at BIDV. As a result, the goods of corporate customers will be received and managed by a reputable unit, and used as flexible collateral for loans at BIDV. This provides effective financial support, helping import-export enterprises easily access capital and optimize cash flow. At the same time, the two parties will cooperate to develop customers for both BIDV and Vinafco, through coordinated communication activities, customer introduction and other appropriate activities.
In addition, BIDV and Vinafco will also implement a common policy package on trade finance and transportation/warehousing services for corporate customers. Import-export enterprises will enjoy preferential trade finance fees and reduced costs for warehouse, transportation and logistics services from Vinafco. This combination not only creates favorable conditions for capital but also helps enterprises optimize costs and efficiency in their supply chains.
BIDV has a long-term vision in building a complete digital ecosystem for import and export activities, contributing to the modernization of financial and logistics services in Vietnam. BIDV is committed to continuing to accompany businesses, providing advanced, flexible and optimal financial solutions, creating favorable conditions for import and export businesses to develop sustainably, enhance competitiveness and commercial value in the international market.
