Accordingly, the BIDV has signed cooperation agreements promoting business activities in life insurance in Vietnam with MetLife BANK. Bien Dong Seafood Co., Ltd. signed a contract on seafood sourcing and development with H2Origins Seafood Inc.; and Thai Group has signed a contract of cooperation in building brand for Park Hyatt in Vietnam with Hyatt Hotels Corporation. Both Bien Dong Seafood Co., Ltd and Thai Group are the clients of the Bank.
Under the agreement signed between the BANK and MetLife BANK, the terms on cooperation mainly include: Exchange of information, sharing of investment opportunities, management experience; development of Bancassurance distribution channels; support the development of financial services.
With respect to the contract signed between the China Sea aquatic products co., Ltd with H2Origins Seafood Inc., the two sides will together develope market share in the US market to reach 300 million in sales growth in more than 36 months; increase market share of Pangasius fillet to over 40%; share information on market development an market price; jointly develop new seafood products with the best quality for the American market.
In particular, H2Origins will purchase a minimum of 750 -1,000 containers of Pangasius fillet products during next 4 quarters with value at US$ 60 million USD. H2Origins will also develop brand for Pangasius fillet of Bien Dong Seafood Co., Ltd and manage sale activities related to this brand in America.