ID :
37048
Tue, 12/23/2008 - 11:45
Auther :
Shortlink :
http://m.oananews.org//node/37048
The shortlink copeid
Wood, coffee exporters receive banking assistance
Hanoi (VNA) - The Bank for Investment and Development of Vietnam (BIDV) has signed a
series of credit contracts worth 3 trillion VND (176.4 million USD) with wood and
coffee exporters from Binh Dinh, Gia Lai, Dak Lak and Lam Dong.
The contracts were inked within the framework a conference to assist wood and coffee
exports, which was held in the central province of Binh Dinh on Dec. 12.
BIDV's move is aimed at helping to ease the impact of the global financial crisis,
which has resulted in a drop in Vietnam 's exports, with farm produce like wood
and coffee being particularly affected.
BIDV's Chairman Tran Bac Ha affirmed that the contracts would take effect as from
2009 and that the bank is prepared to assist the enterprises in seeking new export
opportunities and markets.
BIDV has supported businesses in this field since 2006. The bank has so far lent
over 9 trillion VND to businesses in the wood sector, with this year's lending
increasing by 55 percent compared to 2007.
The bank plans to lend a further 8 trillion VND, meeting about 30 percent of the
wood sector's demands for capital.
Currently, the bank has extended loans to 70 wood exporters, mainly in central Binh
Dinh and Quang Ngai provinces, southern Binh Duong and Dong Nai provinces and the
central highlands province of Gia Lai .
BIDV has also given 8.35 trillion VND to coffee exporters, including 1.3 trillion
VND for 2008, 38 percent more than the previous year. It plans to issue an
additional 6.3 trillion VND in loans to the coffee sector, meeting 30 percent of the
sector's demand.
In addition to granting loans, BIDV provides other business services, such as
international payment services, cross-exchange lending, and foreign currency
transactions.
To maintain the growth rates in exports of these two products, the BIDV official
pledged to speed up access to credit, increase its levels of assistance and service
and to establish a fund to support exports, in order to help enterprises to overcome
financial difficulties.
This year's coffee harvest was the third consecutive time that the coffee sector had
set a record in the value of exports, reaching 1.78 billion USD during the first 11
months of this year. This figure is expected to hit 2 billion USD by the end of this
year.
The export value of wood for the same period was 2.56 billion USD, a year-on-year
increase of 20 percent and is expected to reach 2.8 billion USD by the end of this
year.-Enditem
series of credit contracts worth 3 trillion VND (176.4 million USD) with wood and
coffee exporters from Binh Dinh, Gia Lai, Dak Lak and Lam Dong.
The contracts were inked within the framework a conference to assist wood and coffee
exports, which was held in the central province of Binh Dinh on Dec. 12.
BIDV's move is aimed at helping to ease the impact of the global financial crisis,
which has resulted in a drop in Vietnam 's exports, with farm produce like wood
and coffee being particularly affected.
BIDV's Chairman Tran Bac Ha affirmed that the contracts would take effect as from
2009 and that the bank is prepared to assist the enterprises in seeking new export
opportunities and markets.
BIDV has supported businesses in this field since 2006. The bank has so far lent
over 9 trillion VND to businesses in the wood sector, with this year's lending
increasing by 55 percent compared to 2007.
The bank plans to lend a further 8 trillion VND, meeting about 30 percent of the
wood sector's demands for capital.
Currently, the bank has extended loans to 70 wood exporters, mainly in central Binh
Dinh and Quang Ngai provinces, southern Binh Duong and Dong Nai provinces and the
central highlands province of Gia Lai .
BIDV has also given 8.35 trillion VND to coffee exporters, including 1.3 trillion
VND for 2008, 38 percent more than the previous year. It plans to issue an
additional 6.3 trillion VND in loans to the coffee sector, meeting 30 percent of the
sector's demand.
In addition to granting loans, BIDV provides other business services, such as
international payment services, cross-exchange lending, and foreign currency
transactions.
To maintain the growth rates in exports of these two products, the BIDV official
pledged to speed up access to credit, increase its levels of assistance and service
and to establish a fund to support exports, in order to help enterprises to overcome
financial difficulties.
This year's coffee harvest was the third consecutive time that the coffee sector had
set a record in the value of exports, reaching 1.78 billion USD during the first 11
months of this year. This figure is expected to hit 2 billion USD by the end of this
year.
The export value of wood for the same period was 2.56 billion USD, a year-on-year
increase of 20 percent and is expected to reach 2.8 billion USD by the end of this
year.-Enditem
