Under the agreement, VietinBank and VEC will together develop a network of synchronous and modern national highways and carry out joint venture, capital contribution and management of related-projects.

The two sides have also agreed to support each other to expand their businesses in both domestic and foreign markets, both in their traditional fields of operation and other fields of mutual concern.

VEC has invested US$2.5 billion in building 369km of highways and it is prepared to invest in other highway projects to meet the demands for national socio-economic development and linking land routes both domestically and regionally.

VietinBank has branches across the country with a property value of almost US$12.5 billion, making up 20 percent of market share of the country’s banking network.

With a legal capital of US$62.5 million, VEC was assigned by the government and the Ministry of Transport and Communications to develop the country’s highway system by mobilising capital from various sources.