Vietnam's State Bank Seeking U.S. Ex-Im Bank's Supports

Newly-appointed governor of State Bank of Vietnam, Nguyen Van Giau, proposed the visiting the US Ex-Im Bank President, James H. Lambright, to provide more technical assistances and preferential bank loans for local goods and service importers, the Banking Times newspaper reported.

 

During the meeting on Wednesday in Hanoi, the governor called on the guest-who is in Vietnam to survey investment opportunities-to provide technical assistances to implement the framework agreement signed by SBV and the bank in late 1999 and supplements reached in 2004.

 

Earlier, James H. Lambright emphasized that his bank wants to invest in infrastructure sector in Ho Chi Minh City, Vietnam’s largest economic hub.

 

The outgoing US Ambassador to Vietnam, Michael W. Marine highly valued U.S. Ex-Im Bank’s preliminary commitment to finance support in excess of US$400 million Vietnam Airlines to acquire four Boeings 787 aircrafts and engines in late 2006.

 

In May of 1998, the US bank sent a mission to Vietnam to survey investment opportunities.

 

Established in 1943, the U.S Ex-Im Bank is the official export credit agency in helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans.

 

In fiscal year 2005, Ex-Im Bank authorized nearly USUS$14 billion in transactions supporting almost USUS$17.9 billion of U.S. exports. More than USUS$2.6 billion of these authorizations, representing 2,617 transactions, directly supported U.S. small businesses as primary exporters. For more information, visit www.exim.gov. (Banking Times, www.exim.gov))