Vietnam to Set up Export Insurance Fund
The Vietnamese Ministries of Industry and Trade (MoIT) and Finance are joining hands in forming export insurance fund to protect domestic exporters against the global economic downturn, said Deputy Minister of MoIT, Bui Xuan Khu.
Unlike export assistance fund that has been stopped operation right after Vietnam joined the WTO, the fund will use a part of the country’s total realized export turnover to finance exporters facing business risks during this tough time, the deputy minister said.
Domestic exporters are forecast to continue coping with more difficulties in shipping goods to its key markets this year due to decreasing purchasing power caused by the global economic recession.
Vietnam has targeted to earn US$71 billion from exports this year, up 13 per cent against 2008. (Youth)
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