President of the Lao State Inspection Authority Khamphan Phommaphat works with leaders of BIDV. (Photo: VNA)

BIDV Chairman Phan Duc Tu thanked the Lao Party and State for their support and creating favourable conditions for Vietnamese banks, including BIDV, to operate in Laos.

After 23 years of presence in Laos, BIDV now has one representative office and two joint ventures, namely Laos - Vietnam Joint Venture Bank and Laos – Vietnam Insurance Joint Venture Company, in the neighbouring country, Tu said.

In the coming time, BIDV will continue backing and directing its subordinate firms to well implement political and economic tasks assigned by the Party, State and Government and establish close and sustainable ties with Lao businesses and people, he added.

Khamphan, who is also a Politburo member of the Lao People’s Revolutionary Party (LPRP), Secretary of the LPRP Central Committee, head of its Inspection Commission and head of the central committee for corruption prevention and control, expressed his hope that through his visit, the mutual provision of updated information about the apparatus and operation of BIDV, the two nations will further step up cooperative relations in the banking industry.

During his working session with EVN's leaders, Khamphan highlighted the traditional partnership between Vietnam and Laos, as well as between their electricity sectors.

The Lao official expected that the ongoing visit would contribute to enhancing cooperation and mutual development, thus bringing benefits to both sides.