PM Approves Pilot Export Credit Insurance

Prime Minister Nguyen Tan Dung has recently approved of the pilot implementation of export credit insurance for the period from 2010 to 2013. Accordingly, 3 percent of rice export revenue will be provided credit insurance until 2013.

 

Insured goods include agricultural, forest and aquatic products and light industrial products like footwear and handicrafts. Export credit insurances have short-term.

 

The Ministry of Finance will coordinate with relevant ministries and agencies to pilot the export credit insurance and direct market authorities to supervise the process of execution. The ministry will also work with other ministries and agencies to uphold knowledge and awareness of export credit insurance and to encourage traders to join.

 

The Ministry of Industry and Trade will guide beneficiaries to carry out the pilot scheme.

 

Credit insurance aims to avert and minimise risks in export credit, thus insuring financial security and export expansion.