The Netherlands Development Finance Company (FMO) has signed an official credit contract with Vietnamese company Sacombank Leasing. Under the terms of the agreement, FMO will offer Sacombank Leasing a US$8mn equivalent local-currency loan with a five-year term,
This facility will help develop Vietnam's leasing market, which is primarily tapped by small and medium-sized companies as well as start-up firms for direct access to capital goods under medium-term payment conditions.
Commenting on the agreement, the Netherlands minister for foreign trade, Frank Heemskerk, remarks: 'Vietnam is a good example of an emerging economy with a rapid developing financial sector.
"I am happy to see FMO and Sacombank working together to increase the number of financial products available to small and medium-sized companies. With the possibility of leasing these companies can realise their potential much better.”
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