Vietnam

ANZ Bank (Vietnam) Ltd. has been permitted by the State Bank of Vietnam to conduct factoring operations in the region.

The Japan International Cooperation Agency (JICA) this month signed a €906 million loan for distribution amongst small and medium sized enterprises in Vietnam. JICA President Sadako Ogata signed the agreement on 10 th November, the first initiative to utilise the emergency budget support Japanese Official Development and Assistance (ODA) loans announced by Japan at the London Summit in April. The recent economic crisis had a particularly negative impact on the Vietnamese economy, with GD

Nguyen Thi Hong Anh, Account Manager at the Commercial Joint Stock Bank for Foreign Trade of Vietnam, provides Factorscan with her insights into the state and development of the Vietnamese factoring market.

The Vietnamese government announced that it will speed up preparations in formulating an export credit insurance scheme which would cover the risks of exporters of the country.

According to the recent report of Vietnam Chamber of Commerce, 7,000 small and medium enterprises (SMEs) have dissolved, while other 3,000 businesses have halted production.

Twenty percent of SMEs in risk of going under a shortfall in funding presents serious difficulties for the economy.

Small- and medium-sized enterprises are developing strongly, with only 3.8 per cent facing business and production difficulties, according to the State Bank of Vietnam.

The Vietnam Import-Export Bank (Eximbank) has decided to pour an additional VND3tn (EUR126.18m) in providing credit support for importers and exporters.

The Vietnam Import-Export Bank (Eximbank) announced it will use VND 2tn to provide exchange rate insurance and credit support for importers and exporters.