Satraco signed a strategic agreement with VietinBank

Saigontourist Transport Corporation (Satraco) on Tuesday signed a strategic agreement with Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) for financial support to develop investment projects in the coming time.
Under the deal, Satraco, a subsidiary of Saigontourist Holding Company, will work together with the bank in different business fields in the years to come, said Dinh Quang Hien, general director of Satraco.
Hien said the collaboration would enable his company to proceed with new investment projects, including taxi service, tourist transport service, a five-star resort covering 10 hectares on Phu Quoc Island, a condo project and an office building project in HCMC.
Besides its traditional services, Satraco is gradually widening its business scope to other sectors such as labor export, property development, and trading, he said.
Satraco is expected to get listed on the HCMC bourse in early December.
On the same day, Satraco debuted its Long Van Security Co. Ltd., which will offer security service to hotels, resorts, office buildings and industrial parks, among others.
The newly established security company on the day signed agreements with three customers, namely Majestic and Continental hotels, and An Nghiep Phat Company.