The facility, to enable Tan Long Group JSC (Tan Long Group)—a market leader in soft commodity trading—to diversify the procurement of agri-commodities, is part of IFC’s Global Warehouse Finance Programme (GWFP) that increases available financing to agricultural producers and traders in agricultural countries such as Vietnam. Underpinning the deal is a 50:50 risk-sharing partnership between IFC and VPBank, with each participating in risk for up to $25 million on an unfunded basis covering half of every eligible transaction under the facility. “Diversifying trade finance products will help realise VPBank’s strategy of becoming a leading SME bank over the next five years, with supporting local importers and exporters as a pillar,” said Dinh Van Nho, VPBank deputy chief executive officer cum head of Corporate Banking Division. This partnership is expected to have a significant development impact on the animal protein value chain in Vietnam—an … [Read more...] about Unlock further agri-financing opportunities for processing firms
Kansas welcomes 25 million visitors annually
She returned to Vietnam in August after Chinese authorities raided and deported undocumented immigrants. More about how she returned later. Cut to the present. In a countryside garment factory in the northern Bac Giang Province, Bien sits beside a bunch of red cloth bags. Around her dozens of other workers are making bags on sewing machines, but not Bien: Her job is to affix the company label on the bags, and she gets less than VND100,000 ($4.32) a day for it. She was given that job after failing to learn sewing despite eight days of training at the factory. "It's too difficult, I can't sew," she says. Bien is one of many Vietnamese trafficking victims rescued from China who returned lost, damaged, with little assurance their life would ever go back to the normal old days. Before being trafficked to China, she had been quite resourceful, working her family's rice field in Dong Lo Commune in Bac Giang while also attending a babysitting class. On October 2, 1991, when she was 23, Bien … [Read more...] about The plight of human trafficking survivors: Back from hell but to what?
President Tran Dai Quang (R) and his Egyptian counterpart Abdel Fattah el-Sisi during the latter's State visit to Vietnam in September 2017 (Photo: VNA) Hanoi (VNA) – Delegation exchanges at the highest level between Vietnam and Egypt will create a solid foundation for bilateral cooperation to develop, said Vietnamese Ambassador to the African nation Do Hoang Long. He made the remark in an interview with Vietnam News Agency ahead of a trip to Egypt from August 25 to 29 by President Tran Dai Quang. This will be the first State visit by a Vietnamese head of State to Egypt since the countries set up diplomatic ties in 1963. Ambassador Long underlined the importance of this tour as it is not only a reciprocal visit after Egyptian President Abdel Fattah el-Sisi came to Vietnam in September 2017 but will also reiterate the commitments both sides made last year and strengthen bilateral connections in all aspects such as politics, economy, trade, investment, culture and … [Read more...] about High level visits to shape basis for stronger Vietnam-Egypt ties
The project is expected to unlock new market opportunities and increase income for the smallholder farmers, thus contributing to better food security, the IFC announced during an event to launch the project in Vietnam on June 22. The project, Farmer Advisory Component, is a component of IFC’s broader Vietnam Food Safety Programme, which was launched in July 2017 in partnership with the Slovak Republic, aiming to address food safety standards and practices in the country. The annual food consumption in the domestic market accounts for roughly 15 percent of Vietnam’s GDP, with an average annual growth rate of approximately 18 percent. But, inadequate safety standards can inhibit the sector’s growth potential, jeopardising consumer health and reducing market opportunities for local food producers in the modern food value chain. “Implementing internationally accepted food safety practices and systems is essential for the sustainable growth of … [Read more...] about Smallholder farmers to get support to improve food safety
Vietnamese products are introduced at the forum in Maputo on June 26 (Photo: VNA) Maputo (VNA) – Over 100 representatives of Vietnamese and Mozambican businesses gathered at a forum in Maputo on June 26 to seek stronger links in trade, investment and tourism between the two countries. Vietnamese Ambassador to Mozambique Le Huy Hoang said the Vietnamese Government is committed to continued support of the two countries’ businesses to reinforce partnership and capitalise on their potential and advantages. Meanwhile, Director of the Hanoi Department of Industry and Trade Le Hong Thang introduced advantages of the Vietnamese capital city, including favourable policies, transport infrastructure and human resources. He also highlighted the municipal authorities’ resolve to assist foreign enterprises to engage in economic, investment and trade cooperation. Mozambican Deputy Minister of Industry and Trade Julio Joao Pio reviewed the recent strides in bilateral … [Read more...] about Vietnam, Mozambique seek to enhance trade, investment, tourism ties