From November 29th, 2011, BIDV will apply credit supporting package of 5000 billion dongs to Program of sponsoring for export by business categories that timely supports enterprises working in fields of fishery, textile, footwear, wood, coffee and other agricultural products…

On purpose to help enterprises overcome difficulties and challenges in business activities such as: seeking for stable export markets; increasing of surcharges related to export activities and production; impacts of higher interest rate and exchange rate… Especially, the program is planned to give timely support in terms of seasonality for enterprises who run business in field of coffee, fishery production – export, textile, footwear, wood and agricultural products (in season of Chrismast, New Year 2012 and Spring-Summer fashion).

Sponsoring program for export has four parts: “Financing by BIDV to Vietnam’s fishery industry”; “Along with BIDV welcoming new crop of coffee”; “BIDV accompanies with textile and footwear enterprises of Vietnam” and “BIDV and Vietnam wood industry overcome challenges”. Duration of this program until the end of March or when the support package is totally disbursed.

Under the program, BIDV will apply different flexible funding methods such as: purchasing raw materials even when a contract or export order is not signed yet or just have framed contract without specific time of delivery; funding for producing export goods when there is contract or export orders; funding for export activity after delivery date by  discounting in bill payable attached with exporting documents under variety of payment manners (TTR, L/C, D/P, D/A…). Guarantee measurements include: allowing mortage by L/C, mortage by debt collecting right from export contract, mortage by goods in stock.

Interest rate of credit supporting package of 5000 billion dongs under sponsoring program for export by categories is 0.5%/year lower than preferential interest rate of export loans that BIDV is applying with enterprises in general, or 2%/year lower than of normal interest rate. By the way, BIDV applies free of charge or reduces costs of banking financial services to enterprises who use these services throughout cycle of production- business as: free of charge for checking export documents; free of charge for consulting service on international payment knowledge; free of charge for automatic salary payment; reduce 20%-30% of cost for whole services relating to international payment; applying foreign currency exchange rate of foreign currency source earned from export activities basing on competitive rate in the general market; providing consultancy on and allowing to use currency and goods derivative services to have risk insurance on rate, interest, price of products at most preferential rate of BIDV in each period; providing information on products market, price of exported goods and many other incentives.

The application of this package expresses the guideline “Sharing opportunity, successful in cooperation” of BIDV during current difficult time. This is also practical actions of BIDV to concretize its committement at “Discussion on accelerating export activities of Vietnamese enterprises to control inflation and stabilize macroeconomy” organized by Office of Party Central, Ministry of Industry and trade, Chamber of Commerce and Industry of Vietnam and BIDV on September 2011 in Ho Chi Minh city.