Coffee trader signs loan deal to reach export target

Friday, Apr 12, 2013 15:20

HCM CITY (VNS) — Standard Chartered Bank (SCB) on Tuesday signed a loan agreement worth US$24 million with the Daklak September 2nd Import-Export Co Ltd (Simexco Daklak), the second largest state-owned coffee trader in Viet Nam.

Simexco General Director Le Duc Thong said the loan would help the company achieve its export revenue goal.

Louis Taylor, General Director of Standard Chartered Viet Nam, said that the Vietnamese coffee industry had seen spectacular development over the past 20 years and had become one of the main driving forces behind the country's exports.

The strategic partnership between SCB and Simexco is evidence of the bank's commitment to sustainable development in Viet Nam.

Founded in 1993, Simexco Daklak has built up a dynamic purchasing network directly from farms and invested in modern coffee processing factories, staff training and quality control systems in key coffee-growing areas of Viet Nam. — VNS

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