Olea announces entry into Viet Nam to offer trade finance solutions

Tuesday, Mar 14, 2023 15:57

Viet Nam has emerged as the fastest-growing economy in Asia, resulting in a growing demand for financial services that enable businesses to engage in cross-border trade. — Photo diendandoanhnghiep.vn

Olea, a digitised supply chain platform that empowers sustainable trade, has announced its entry into the Vietnamese market, with a focus on providing innovative trade finance solutions to businesses and banks engaged in international trade.

Olea starts its first partnership with ASEAN Business Partners (ABP), a multi-disciplinary professional services firm that specialises in assisting international companies to start and grow businesses in the ASEAN region.

"We are excited to enter the Vietnamese market and help businesses grow through our cross-border trade finance offering," said Letitia Chau, Deputy CEO of Olea. "Our aim is to provide Vietnamese exporters with the trade finance solutions they need to succeed in today's global economy, and we look forward to working closely with businesses to help them achieve their goals."

Viet Nam, already a prominent player in Asian export markets, has emerged as the fastest-growing economy in Asia. As a result, there is a growing demand for financial services that enable businesses to engage in cross-border trade. Olea's entry into the market will help meet this demand by providing businesses with access to efficient and reliable cross-border financial services.

With a strong track record of providing financial services to businesses exporting from Asia to the US and Europe, Olea is well-positioned to support the growth of Vietnamese businesses engaged in cross-border trade. Olea's services in Viet Nam will provide innovative cross-border finance solutions designed to help businesses access financing, increase transparency in processes and improve efficiency via Olea’s advanced technology platform, the company says.

Sumit Dutta, CEO & Founder of ASEAN Business Partners, said: “Demand for Vietnamese products is increasing, especially among US and European buyers. We truly believe that Olea’s trade finance solution will be advantageous for Vietnamese corporates. At ASEAN Business Partners, we are thrilled about the benefits this partnership will bring to exporters in Viet Nam."

“Olea’s entry into Viet Nam is one of the most exciting opportunities for businesses in Viet Nam in embracing digital platforms to drive cross-border trade finance and accelerate growth. With the power of digitalisation, we can help our clients achieve their growth ambitions. With Viet Nam emerging as a dynamic and rapidly growing market, we need to continue to capitalise on the digital revolution and unlock new opportunities for success,” said Michele Wee, CEO, Standard Chartered Vietnam. — VNS

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