The UK Standard Chartered Bank (SCB) and Tin Nghia Corporation in the southern province of Dong Nai have signed a credit agreement worth US$22 million to help this business boost coffee production and exports.
SCB Vietnam General DirectorNirukt Sapru said the credit package aims to support Tin Nghia’s operations, showing business capability and cooperation between Tin Nghia and Standard Chartered Bank in the field of trade finance.
Douglas Anthony Barners, UK Consul General in Ho Chi Minh City said that the signing of the credit agreement between Tin Nghia and the SCB will contribute to deepening the relationship and cooperation between businesses as well as the two peoples.
Tin Nghia is listed as one of three major coffee exporters in Vietnam. In recent years, Tin Nghia exports an average of 100,000 tons of coffee per year, gaining more than US$200 million in export earnings.
Apart from purchasing coffee from the domestic market, the corporation has heavily invested in Arabica coffee plantation in Laos with an area of up to 1,000 hectares.
Other News
- Japan gives Vietnam biggest-ever ODA package
- Japan gives Vietnam biggest-ever ODA package
- Japan provides US$422 million ODA loans to Vietnam
- Prime Minister calls for Metro No. 1 project to be completed by September
- 70% highway road in Vietnam built with Japan loans
- Vietnam should be cautious about environmental impact investment: JICA
- Japan’s ODA to Vietnam to focus on issues of global concerns from 2020: JICA
- Private sector investment finance – JICA’s tool to seek investment in infrastructure
- Vietnam tops priority of Japanese infrastructure investment
- Hanoi eager to quicken railway projects's pace
Trending
-
Hanoi determined to speed up Yen Xa Wastewater Treatment project
-
Vietnam news in brief - November 1
-
Hanoi specialty gets world billionaires' interest
-
Localizing idols: Vietnam’s shift from Hallyu to homegrown stars
-
Hanoi plans major upgrade for iHaNoi by 2026
-
Berlin Film Festival award-winning motion picture premieres in Vietnam
-
Love triangle drama opens Hanoi Open Stage Festival
-
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
-
Ngoc Khanh Lake walking space: A placed filled with history of Hanoi