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Banking & Finance

Standard Chartered & VCCI support SMEs in international trade

Released at: 14:45, 02/11/2017

Standard Chartered & VCCI support SMEs in international trade

Photo: Standard Chartered

Bank in partnership with VCCI to offer financial aid to SMEs in doing business globally.

by Hong Nhung

Standard Chartered Bank Vietnam, in collaboration with the Vietnam Chamber of Commerce and Industry (VCCI), announced its support of small and medium-sized enterprises (SMEs) in international trade and business at a workshop held in Hanoi on October 31 that attracted over 100 businesses from diverse industries.

The workshop discussed key issues for local SMEs, including the latest government support policies, the outlook for the economy and foreign exchange next year, and how international banks can support SMEs in their international trade needs.

Standard Chartered announced a campaign to offer a 50 per cent cash back on commission fees for the first ten overseas transactions made before the end of the year. The campaign is applicable for new customers that open business banking current accounts at the bank using the 50 per cent cash back coupon obtained from VCCI or at the workshop.

“Given the SME sector is a key contributor to trade, employment, and economic growth in Vietnam, it is critical that the sector receive adequate support to grow strongly and sustainably,” said Ms. Pham Thu Hang, General Secretary of VCCI. “We appreciate the opportunity to work with Standard Chartered Bank to host this meaningful workshop, which provides SMEs with useful knowledge and experience to succeed in international trade. This is particularly important in the context of Vietnam’s increasing integration into the regional and global economies.”

“For the last two decades, Vietnam has benefited greatly from the expansion of trade and investment links with various countries around the globe and SMEs play a crucial role in that process,” Mr. Nirukt Sapru, CEO of Standard Chartered Vietnam and ASA Cluster Markets, told the workshop. “As Vietnam continues to expand trade with the rest of the world, SMEs will be a key part of this growth. They will be critical to further integrating Vietnam into global supply chains. As one of the oldest international banks in Vietnam, Standard Chartered Bank offers a wealth of experience and expertise to help Vietnamese businesses navigate the global economy and expand their business.”

Standard Chartered Bank Vietnam in June was named Best Bank for Treasury and Working Capital in Vietnam for major customer segments, including multinational companies, large local companies, financial institutions, and non-bank financial institutions, as well as Best Service Provider in Vietnam in various categories at The Asset Triple A Treasury, Trade, Supply Chain and Risk Management Awards 2017, held by global financial magazine The Asset.

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