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8/3/2019 Sharing Vitenam's Experience in Establishing Its Export Credit Agency - Tran Tu Cat
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VDBs Export Credit
8/3/2019 Sharing Vitenam's Experience in Establishing Its Export Credit Agency - Tran Tu Cat
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Contents
Background of Exportation in Vietnam
States Export Credit Policy History
Shortcoming & Challenging
Development orientation
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Background of Exportation in Vietnam
Moving toward market economy from centrally-planedeconomy
Driving force of Vietnam economy: Export
GDP per capita is low
Export turnover = 70 % GDP
Main export products are agriculture commodities Official ECA is non-existence
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States Export Credit Policy History
The agencies in charge of States Export Credit policy
1995-2000: The General Department for Development andInvestment (GDDI)
2000-2006: Development Assistance Fund (DAF) 2006-now: Vietnam Development Bank (VDB)
Registered capital : USD 500 million
Government guarantee for VDB solvency Milestone: Vietnam became the WTOs 150th member on 11
January 2007
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States Export Credit Policy History
Previous 2000
Export credit is primarily performed through State of
Commercial Banks (SOCB): Vietcombank, BIDV There is no centralized bank implementing export credit
policies of State
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States Export Credit Policy History
2001 -2006: DAF (former GDDI)
Official export credit policy is announced (Decision No.133/2001/QD-TTg dated 10 September 2011 by PrimeMinister)
Forms of export credit: short-term lending (buyers credit,suppliers credit), long-term credit, bid bond, performancebond.
Interest rate is softer than commercial banks
Eligible commodities are limited.
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States Export Credit Policy History
2001 -2006: DAF
72 90
310
500538
0
100
200
300
400
500
600
2001 2002 2003 2004 2005
Turnover(Unit: USD million)
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States Export Credit Policy History
2006 2011: VDB (former DAF)
Export credit is implemented under Decree No.151/2006/QD-CP dated 20 December 2006 by PrimeMinister
Forms of export credit: short-term export credit, exportcredit guarantee, tender guarantee (bid bond) andperformance guarantee (bond)
Interest rate is adjusted in line with commercial rate
Eligible products are expanded (agriculture, forestry andaquatic products, handicraft and fine-art, industrialproducts)
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0
200
400600
800
1,000
1,200
1,400
1,600
1,800
2006 2007 2008 2009 2010
400
475
1,364
1,622
1,010
States Export Credit Policy History
Turnover (2006-2010)
(unit: USD million)
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States Export Credit Policy History
85%
6%2%
7%
Agriculture, forestry and
aquatic product
Handicraft and fine-art
Industrial product
Rice (Cooperation programof Government)
Segment by 2010
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States Export Credit Policy History
2011- current: VDB
Export credit is implemented under Decree No.
75/2011/QD-CP dated 30 August 2011 by Prime Minister
Forms of export credit: short-term export credit
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Shortcoming and Challenging
Size: rather modest compared with other ECA.
Experience: focused mostly on suppliers credit and short-
term credit.
Export credit insurance: non-existence.
Organization: both investment and export credit.
Legal status of the export policies: weak compared withother ECA.
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Development Orientation
Overcoming weakness and challenging above.
Inheriting the current regulations in accordance with WTO
and OECD arrangement policies (interest, forms ofcredit...)
Establishing an independent agency which hasresponsibility for export credit.
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A D D : N O . 2 5 A C AT L I N H S T R E E T , D O N G D A D I S T R I C T ,
H A N O I , V I E T N A M
T E L : 0 8 4 4 3 6 3 7 5 6 5 9
FA X : 0 8 4 4 3 6 3 7 8 1 0 4
W E B S I T E : H T T P : / / W W W . V D B . G O V . V N /
VDB contact
http://www.vdb.gov.vn/http://www.vdb.gov.vn/8/3/2019 Sharing Vitenam's Experience in Establishing Its Export Credit Agency - Tran Tu Cat
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Thank you for attention