US Eximbank to open Viet Nam branches
VNECONOMY updated: 18/06/2007
As part of its ongoing expansion plan, the Export-Import Bank of the United States (Eximbank), the official export credit agency of the US federal Government, will pour US$300 million in opening four branches in Viet Nam.
The bank’s plan includes co-ordinating with Vietnamese counterparts in expanding credit guarantees to local businesses, helping them import goods from the US.
Marianna Ohe, an Eximbank representative, says stronger US-Viet Nam trade relations and the country’s recent WTO membership have encouraged executives to focus more on Vietnamese companies doing business in North America.
Eximbank hopes to get involved in short and medium term transactions with private companies, and long term deals with State-owned enterprises. The capital support will allow Vietnamese companies to import more from the US, says Ohe.
Trade between the United States and Viet Nam in 2006 hit $9.7 billion with US imports representing $1.1 billion.
Source: Vietnam Agency
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