Flamingo, VietinBank ink investment agreement

Update: March, 23/2018 - 17:00
Representatives of Flamingo Group and Vietinbank Phúc Yên sign the investment contract. — Photo
Viet Nam News

HÀ NỘI — Flamingo Group and Việt Nam Bank for Industry and Trade (VietinBank)’s Phúc Yên branch has signed an investment contract for Flamingo Cát Bà Beach Resort project.

Under the agreement, VietinBank is the only official investor to provide capital and financial products for Flamingo Cát Bà Beach Resort, with a total credit of VNĐ1.5 trillion (US$66 million).

Lê Thị Vân Anh, vice director of Flamingo Group, said the combination of experience and capacity of the Flamingo Group and financial strength of VietinBank promised to bring success for the Flamingo Cát Bà Beach Resort complex in future. She said the agreement was a premise to build and develop many works with international standards.

Nguyễn Văn Trường, director of Vietinbank Phúc Yên, emphasised that the signing between the bank and the Flamingo Group show their desire to further develop the relationship between the two sides, which is evidenced by formal co-operation agreements to implement projects in future.

Located on a 7.8ha area, Flamingo Cát Bà Beach Resort owns 756 villas and has a total investment of VNĐ3 trillion.

The project is scheduled to be completed by the end of 2019. — VNS