Bank agreement for disbursement cashew production industry

Yesterday 6/3 in HCM City, said companies that are industry efforts difficult and the situation of the world market will prosper in the quarter II/2012, 15 banks have committed to provide sit back for the cashew sector credit export of 170,000 tons, earning $ 1.5 billion in 2012

Explosion "shot" the first and most powerful Nguyen Minh Phu - representing Asia Bank (ACB) when said: "Asia has signed the decision to disburse $ 100 million industry that firms with interest rate 5.6% and will accelerate disbursements to purchase all the output at peak harvest of farmers, from now until 6/2012 ".

Mr. Phu also said the top priority of Asia is for loans to enterprises is respected, a standard processing plants and major export markets in Europe, the United States. "This is how we preserve capital, and encourage businesses to do business basics and more professional" - Mr. Phu said. Related to a number of companies coming to maturity, but goes by the market decline from the world economic crisis, Asian bank representative said he would consider rescheduling inventory from 6 months to 9 months and creating conditions for businesses to cut holes into the most favorable time.

Similarly, Vietnam Cuong Nguyen - representing the Vietnam Development Bank said that our policy is fully committed financing for businesses in the crop of 2012. "Past 2011, we were not banking companies in the sector of bad debts should have no reason not to continue shaking hands in 2012 doing this at all" - he said. But Bui Writing Program - Deputy Director Vietinbank City said: "In addition to commitments on loans, we guarantee will reduce interest rates in coming months."

However, he also recommended some inventory companies also need courage in 2011 to cut losses by releasing early sources, as prerequisite for the disbursement bank confidence to deploy business acquisition, processing, export as soon as possible. "The industry is the traditional customers of the coming decades and will remain so. The market is difficult due to the common characteristics of many industries, not just things. Therefore, the Vinacas rescheduling proposals for a number of companies, we are looking at each specific record to restructure debt by 6 months "- he says submit. Meanwhile, Mr. Sun Decree - Deputy General Director of the bank stock import and export trade (Eximbank) also suggested that companies need to improve sector management capacity in business, especially to improve the recovery of money in the bar international terms, to limit risk as some companies faced in 2011.

According to Nguyen Thai Hoc - President Vinacas, the bank sector confidence for the big loan in 2012 from internal industry is still stable and sustainable. The stock (approximately 200,000 tonnes for the 2011) led to delayed payment most banks fall into a number of fledgling businesses. Left, the DN has "seniority", with factories meet international standards, with large export markets, has traditionally do business reputation is well developed.

3 DN solution Vinacas made recommendations in 2012 to win the business sector:

+ Minimize the consumption norms of raw materials in processing.

+ Price of the average exports from $ 6,200 / ton or more.

Ensure all processing 800,000 tons of raw materials and export of 170,000 tons of cashew.

But Nguyen Van Chieu - Head of Trade Promotion of Vinacas, Chairman of Long An said: The world this year will take the season, output reduction due to lack of processing workers should supply will not meet sufficient demand for the time between last year and rising.

"So right from the end of February the Association of businesses located in Long An has purchased our full inventory of materials, and full pitch. They believe that the difficulties of this sector is only temporary and will continue to further development in the future. clearest evidence is that many Indian companies - the country has 50 years experience of export to the world (twice the U.S. time to market) is seeking to invest in Vietnam because see good opportunities. "Even I can not believe it, Long An Lafooco company at start-my only 3 billion, but now increased to 232 billion then. Yes this is due to the company and the banks are always going to rely on each other, both at favorable and very normal difficulties in production and business activities "- Mr. Chieu said.