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VPBank & Haravan partner to support local SMEs

Released at: 08:30, 28/04/2019

VPBank & Haravan partner to support local SMEs

Photo: Hung Cao (VET)

Two to support 50,000 Vietnamese enterprises through 5-year financial program.

by Khanh Chi

The Vietnam Prosperity Joint Stock Bank (VPBank) and local technology startup Haravan recently signed a cooperation agreement called “Empower 50,000 Vietnamese enterprises” with the participation of over 100 e-commerce and retail businesses, in order to improve digital transformation capacity and accompany the development of local enterprises, especially small and medium-sized enterprises (SMEs).

Enterprises participating in the program have been sponsored to use HaraRetail, a retail management solution, for free forever, as well as special financial solutions support from VPBank.

Retailers and businesses in Vietnam are currently in a boom period of e-commerce, accompanied by a trend in digital transformation in businesses, to improve business efficiency and reduce costs in operations, sales, and marketing. This is an opportunity for young businesses to seize the trend and apply digital technology and develop rapidly.
However, most traditional businesses and SMEs in Vietnam are still far away from the trend of applying technology in business and retail, so many are struggling or even closing. Furthermore, with strong investment from foreign retail giants in Vietnam, the future of Vietnamese retailers is even more problematic.
Therefore, VPBank and Haravan determined to build the “Empower 50,000 Vietnamese enterprises” project together. With this cooperation, the two want to be able to contribute their strength to the enhancement of SMEs and retailers in Vietnam to adapt and strongly develop in the digital era.
Between April 2019 and April 2020, 50,000 participants will be sponsored with “HaraRetail”, a powerful retail management system, for two stores for free forever, and VPBank will offer preferential business loans of up to $129,000, together with the benefits of using other financial services.
HaraRetail is a comprehensive retail management system that helps retailers manage all operations in the retail business, from inventory, orders and products to customer data and delivery payments within one system. Digitizing all retail operations with HaraRetail will help retailers control their business more efficiently and accurately instead of using manpower and manual methods.
After registering, retailers can immediately use HaraRetail and receive support from Haravan and VPBank within 24 hours. Haravan always updates new knowledge and valuable experience shared by experienced experts in retail, technology, and finance on the program’s official website and at events monthly.

Along with the free technology solution from Haravan, VPBank will provide polyhedral financial solutions, addressing over 90 per cent of micro enterprises and large business households’ needs with programs including invoice sponsorship, loans without collateral, and credit card for micro enterprises, among others.

The cooperation between Haravan and VPBank is a milestone in the process of technology integration and business development, especially in the context of SMEs still lacking resources in general.

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