Economic Expert - Dr. Can Van Luc gave a speech at the Conference.
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The launch of BSL will add an important financial product to BIDV’s product portfolio, enabling the system to better satisfy the diverse needs of customers in credit, insurance, financial leasing, and securities. With this being said, the BSL will provide diversified financial products to timely meet the specific and increasingly large financial demand of big, medium and small enterprises in Vietnam, as well as foreign direct investment (FDI) operating in Vietnam, with a view to seize and realize business opportunities.
Previously, BIDV and SuMi Trust has jointly held a conference themed “Financial leasing – efficient channel for midterm and long term financial resource mobilization; Experiences from Japan and potential development in Vietnam”.
Financial leasing is more and more common all over the world. The total revenue of global financial leasing is nearly 1 trillion USD per year. In the US, 80% enterprises ranging from small to large scale in the list of Fortune 500 are lending equipment for their businesses and operations. Meanwhile in Japan, the revenue of financial leasing is 50 billion USD per year. In Vietnam, despite the development of banking system and financial services, the financial leasing is still nowhere near the same development, with the revenue of more than 380 million USD, contributing to 0.16% the total revenue of credit institutions. With the undeveloped of the financial leasing market in Vietnam, many investors have expressed their surprise, as this kind of service is becoming a habit in developed market.
After having briefed on the overall Vietnam’s economy situation, the Vietnam financial market and financial leasing, economic expert – Dr. Can Van Luc said, despite the undeveloped of the Vietnam financial leasing market, there remains potential for development. With this being said, the Vietnam’s economy is expected to keep a stable growth rate with the GDP growth of 6.5-6.7% in period of 2017-2020; creating high demand for equipment and transport vehicles for the purpose of development investment. “Financial leasing is an important solution for enterprises to overcome barriers in accessing capital, especially the midterm and long term finance in the context of banks’ policy restricting short term loan for midterm and long term loan. It is increasing important when enterprises are lacking assets guarantee” – Dr. Can Van Luc stressed.
On behalf of BSL, General Director Nguyen Thieu Son presented financial products of the company, its major advantages based on the Japanese technological know-how, as well as the close cooperation with providers of SuMi Trust and the national network of BIDV.
