The Standard Chartered Bank (SCB) on April 9 signed an agreement lending
24 million USD to the Daklak September 2nd Import-Export Co. Ltd
(Simexco Daklak), the second largest state-owned coffee trader in
Vietnam.
Simexco General Director Le Duc Thong said the loan will help the company to achieve its export revenue goal.
Meanwhile, Louis Taylor, General Director of Standard Chartered
Vietnam, said that the Vietnamese coffee industry has seen a spectacular
development over the past 20 years and has become one of the main
drives for the country’s export. The strategic partnership between SCB
and Simexco is evidence of the bank’s commitment to sustainable
development in Vietnam.
Founded in 1993, Simexco Daklak has built
up a dynamic purchasing network directly from farms and investing in
modern coffee processing factories, staff training and quality control
systems in key coffee growing areas of Vietnam.
Last year, the
company’s revenue reached 6,577 billion VND (approximately 314.9 million
USD), a year-on-year increase of 41 percent.-VNA