VIB Supports Woodwork Exporters

Vietnam International Bank (VIB) has just launched a programme called "VIB supports woodwork exporters to ascertain new positions” in a bid to assist local woodwork companies, especially exporters, to enhance competitiveness and assert their foothold on international markets.

 

The programme, applied from August 16, 2010, offers a variety of preferences for woodwork companies, like joining the VND1,500 billion financing programme with a preferential interest rate, and flexible guaranteed assets. Lumber exporters and importers are allowed to issue letters of credit (L/C) with flexible deposit rates which may be at zero; financed before and/or after delivering goods with a high rate of 95 % in the form of L/C. They can electronically check export revenues, trade finance transactions, international payments and L/C opening if they use VIB4U online banking service.

 

Especially, if they open and make international payments at VIB before December 31, 2010, they will receive preferential service charges, particularly a discount of 20 %.