Business Daily Media

Men's Weekly

.

HDBank increases ‘green’ credit to help popularise Vietnamese rice globally

HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 13 March 2024 - The HCM City Development Joint Stock Commercial Bank (HDBank) has hiked its loan limits and promoted lending for rice production and export value chains to enable Vietnamese rice to reach the world.



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. — Photo courtesy of HB Bank.
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. — Photo courtesy of HB Bank.

Prime Minister Phạm Minh Chính 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.

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 Cửu Long (Mekong) Delta region.

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 Lộc Trời 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.

It focuses on meeting credit needs for buying and exporting rice from the 2023-2024 winter-spring crop in the Mekong Delta.

Phạm Quốc 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.

For example, just a month after the Việt Nam-EU Free Trade Agreement took effect on August 1, 2020, Lộc Trời Group exported Vietnamese jasmine rice to the EU.

By 2022 the company and its subsidiary, Lộc Trời Agricultural Products Joint Stock Company, successfully exported rice under its own brand, Cơm ViệtNam Rice, to Germany, France and the Netherlands.

Lộc Trời 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.

In recent years Việt Nam's rice industry has had outstanding success, reaching world levels and establishing its position.

The important thing is that the country has rice businesses that meet strict production standards, and promote green production and growth, Thanh said.

"These values create the foundation for achieving sustainable growth and records in term of both volume and value for rice exports in recent years."

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 Chính at the end of 2023.

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.

Hashtag: #HDBank

The issuer is solely responsible for the content of this announcement.

About HDBank

stands as one of Vietnam's prominent financial institutions, deeply committed to promoting ESG, sustainable development, innovation, and development.

The bank's mission is to offer financial solutions that enable both individuals and businesses to thrive and prosper.

News from Asia

Tenchijin Named Finalist for IVS2025 LAUNCHPAD

Exhibiting at IVS Startup Market to Showcase Advanced Water DX Solutions TOKYO, JAPAN - Media OutReach Newswire - 30 June 2025 - Tenchijin Inc...

ESET and Canon Extends Regional Alliance to Combat Asia’s Security Challenges

SINGAPORE - Media OutReach Newswire - 30 June 2025 – ESET Asia Pte. Ltd. ("ESET"), a global leader in cybersecurity, and Canon Singapore Pte. Ltd. ("Canon") today announced the signing of a Memora...

Counterfeit and Refurbished Transducers Pose Serious Safety Risks

Merz Aesthetics® Hong Kong Launches Ultherapy® Authenticity Verification Reward Program This August Consumers Urged to Verify Ultherapy® Transducers Authenticity for Safe and Effective Treatments H...

Porsche Design Tower Bangkok and Curvistan Bangkok Host an Exclusive Preview of the "Electrifying Past. Present. Future." Exhibition

BANGKOK, THAILAND - Media OutReach Newswire - 28 April 2025 - Porsche Design Tower Bangkok showcased its commitment to innovation by hosting an exclusive evening reception with Curvistan Bangkok, ...

Hong Kong: Bridging Business Opportunities under the Belt and Road Initiative

HONG KONG SAR - Media OutReach Newswire - 30 June 2025 - As a global trade and financial centre and a key link in the Belt and Road Initiative (B&RI), Hong Kong plays a pivotal role in connect...

Octa Black: Octa broker's premium trading experience

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 1 July 2025 - Octa, a globally regulated and trusted broker since 2011, rewards its high-value clients in Indonesia, Malaysia, and Nigeria with a...

Gaw Capital Appoints Nicholas Toh as Managing Director – Head of Data Centre Platform, Asia (Ex-China)

SINGAPORE - Media OutReach Newswire – 1 July 2025 – Gaw Capital Partners, a leading multi-asset investment management firm, is pleased to announce the appointment of Mr. Nicholas Toh as Managin...

Prime Immigration Consultancy Announces Expansion of Service Offerings to Help Clients Achieve the Singapore Dream

SINGAPORE - Media OutReach Newswire - 1 July 2025 - Prime Immigration Consultancy (PIC), a Singapore-based immigration consultancy, has announced an expansion of its services to provide more comp...

ICONSIAM in Collaboration with Shanghai Yuyuan Tourist Mart Group Brings China’s Most Iconic Lantern Festival to Thailand for the First Time

“Yuyuan Lantern Festival 2025” Lights Up Bangkok to Celebrate 50 Years of Thai–Chinese Diplomatic Ties BANGKOK, THAILAND - Media OutReach Newswire - 1 July 2025 - ICONSIAM, the global landmark al...

SIBUR to expand cooperation with clients in Bangladesh

MOSCOW, RUSSIA - Media OutReach Newswire - 1 July 2025 - SIBUR, Russia's largest producer of polymers and synthetic rubbers, sees potential to increase supplies to Bangladesh following the launch ...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy