With the mission of being the leading State-owned commercial bank, Agribank has continuously affirmed its pioneering role in providing capital, motivating Vietnamese enterprises to develop sustainably and gradually affirming its position in the international market.
Launch pad to elevate Vietnamese agricultural products
Dong Giao Food Export Joint Stock Company (Doveco), a symbol of Vietnam's agricultural industry, is a typical example of Agribank's effective support for export enterprises. Starting from a small state-owned farm established in 1955, Doveco has become a globally famous agricultural brand thanks to strong and persistent financial support from Agribank.
Recalling the difficult times, Mr. Dinh Cao Khue, Chairman of the Board of Directors and General Director of Doveco, said that in the early days, the company encountered many obstacles in terms of capital to restructure the organization and innovate production technology. Fortunately, Agribank provided timely support, with a credit limit of up to 100 billion VND to date. The company is confident in investing in expanding production, developing modern processing complexes and improving the quality of agricultural products.
According to Mr. Khue, from preferential credit capital from Agribank, Doveco has successfully built three modern agricultural processing complexes in Ninh Binh, Son La and Gia Lai with a total capacity of up to 136,000 tons of products per year. These factories not only create jobs for more than 31,000 workers but also help Vietnamese agricultural products meet international export standards, meeting the strict requirements of demanding markets such as the EU, the US, Japan and Israel.
In addition to capital support, Agribank has helped Doveco invest in modern production technologies such as drip irrigation systems, plastic mulch, organic fertilizers and biofertilizers. The company has also built a high-quality nursery system, ensuring the best source of seeds, increasing crop productivity and meeting export standards. At processing centers, Doveco has boldly invested in up to 90% automated production lines, imported from developed countries such as Germany, the US and Japan.
As a result, Doveco's agricultural products such as passion fruit, MD2 pineapple, sweet corn and mango not only conquer the domestic market, but also export to more than 55 countries with an export rate of 90% of output. The company's export revenue reached VND3,000 billion in 2023, accounting for 80% of total revenue, and in the first 6 months of 2024, this figure increased by 38% over the same period last year.
Talking about the bank's support, Mr. Tong Minh Thang, Deputy Director of Agribank Tam Diep Branch, Ninh Binh - the unit directly accompanying Doveco shared that Agribank not only provides credit but also accompanies businesses with preferential interest rate policies, debt term structure and quick disbursement support. This companionship helps Doveco not only develop sustainably but also enhance the value of Vietnamese agricultural products in the international market.
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| Mr. Dinh Cao Khue, Chairman of the Board of Directors and General Director of Doveco, took Agribank staff to visit Dong Giao pineapple raw material area. |
“Bridge” for the wood export industry
Not only in the agricultural sector, Agribank also plays an important role in supporting the export wood processing industry - an industry with a large export proportion in Vietnam. Thai Hoang Company Limited in Doan Hung District, Phu Tho Province is a typical example. From a small processing workshop, thanks to capital support from Agribank, this enterprise has gradually expanded its scale and become one of the largest bamboo chopstick exporters in Vietnam.
Mr. Nguyen Van Thai, the company's director, recalled that when the company was first established, it faced difficulties in both capital and technology. The first batches of wood only recovered 10% of the output. Thanks to timely support from Agribank, we invested more in the production line and researched technical improvements. To date, the company has produced 600 million pairs of chopsticks per year, with 90% of the output exported to Japan.
From the initial 3 wood sawing machines, Thai Hoang has now expanded to 8 modern production lines, meeting the increasing demand of the international market. Agribank not only provides working capital but also reduces interest rates by up to 2.5%/year, supports quick disbursement and flexibility in debt restructuring. This helps Thai Hoang stabilize production activities, pay salaries, purchase raw materials and invest in value-added products such as finger jointed boards to diversify products.
Mr. Nguyen Thanh Hung, Deputy Director of Agribank Doan Hung Branch, shared that the bank not only provides capital but also implements flexible solutions to support businesses during difficult times, helping them stabilize production and develop sustainably.
With a wide network and flexible credit packages, Agribank not only meets the capital needs of businesses but also acts as a “bridge” to help them reach international markets. From agricultural products, wood processing to other fields, Agribank has made an important contribution to enhancing the value and brand of Vietnamese products, promoting the country’s economic growth.
The success stories of Doveco and Thai Hoang are just two of thousands of businesses that have been and are developing thanks to the support of Agribank. With the bank's support, Vietnamese businesses are increasingly confident in affirming their brands, bringing Vietnamese products to the world and actively contributing to the country's sustainable economic development.
Source: https://thoibaonganhang.vn/von-agribank-giup-doanh-nghiep-vuon-tam-quoc-te-159037.html
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