At the eighth congress of the Vietnam Farmers Union held in December 2023, HDBank launched its HDBank Rural Services, a specialised and superior financial solution integrating smart technology along with a preferential loan programme for agriculture and rural areas at 0 per cent interest. \u2014 Photo courtesy of HB Bank.<\/i><\/p>\n
Prime Minister Ph\u1ea1m Minh Ch\u00ednh issued Directive No 10\/CT-TTg on March 2, 2024, on promoting the production, trading and export of rice in a sustainable, transparent and effective manner.<\/p>\n
It requires the State Bank of Vietnam to direct banks to run credit programmes to support links between cooperatives and businesses for high-quality, low-carbon rice production, processing and consumption in the C\u1eedu Long (Mekong) Delta region.<\/p>\n
At the same time HDBank announced that, starting in March 2024, it would disburse loans worth nearly VND5 trillion (US$202 million) to agricultural services and food conglomerate L\u1ed9c Tr\u1eddi Group Joint Stock Company to help expand its value chains in the rice industry, including companies producing fertilisers, processing and exporting rice, distribution agents, and production households.<\/p>\n
It focuses on meeting credit needs for buying and exporting rice from the 2023-2024 winter-spring crop in the Mekong Delta.<\/p>\n
Ph\u1ea1m Qu\u1ed1c Thanh, general director of HDBank, said the loans are a “green” capital source for the development of agriculture and rural areas since they are associated with promoting and meeting quality standards in production and business and environmental responsibility, especially, creating products that meet the rigorous standards of developed markets around the world.<\/p>\n
For example, just a month after the Vi\u1ec7t Nam-EU Free Trade Agreement took effect on August 1, 2020, L\u1ed9c Tr\u1eddi Group exported Vietnamese jasmine rice to the EU.<\/p>\n
By 2022 the company and its subsidiary, L\u1ed9c Tr\u1eddi Agricultural Products Joint Stock Company, successfully exported rice under its own brand, C\u01a1m Vi\u1ec7tNam Rice, to Germany, France and the Netherlands.<\/p>\n
L\u1ed9c Tr\u1eddi was also the first enterprise to put Vietnamese rice on the shelves of E.Leclerc, which has nearly 600 hypermarkets and more than 100 supermarkets across France.<\/p>\n
In recent years Vi\u1ec7t Nam’s rice industry has had outstanding success, reaching world levels and establishing its position.<\/p>\n
The important thing is that the country has rice businesses that meet strict production standards, and promote green production and growth, Thanh said.<\/p>\n
“These values create the foundation for achieving sustainable growth and records in term of both volume and value for rice exports in recent years.”<\/p>\n
This direction by the rice industry, achieved arm in arm with commercial banks, has also been clearly defined in a programme called “Sustainable development of one million hectares of high-quality, low-carbon rice production associated with green growth in the Mekong Delta by 2030,” approved by PM Ch\u00ednh at the end of 2023.<\/p>\n
The project aims to reduce greenhouse gas emissions by over 10 per cent compared to traditional rice cultivation methods, and increase added value in the rice value chain by 40 per cent by 2030 and provide profit margins of more than 50 per cent for rice farmers.<\/p>\n
Hashtag: <\/b>#HDBank<\/p>\n
The issuer is solely responsible for the content of this announcement.<\/em><\/p>\n
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