Vietnam Development Bank Established

Rice export will receive financial assistance from the VDB.

To carry out the Government’s policy of export and development investment credit, the Vietnamese Prime Minister recently signed a Decision to establish the Vietnam Development Bank (VDB), a state financial institute formed by restructuring the existing Development Assistance Fund (DAF).

Headquartered in the capital city of Ha Noi, the bank will operate on non-profit basis and its payment liquidity will be secured by the Government.

VDB has a charted capital worth VND5 trillion, a required reserve ratio of 0%, and also receives a tax exemption and other duties in accordance with the laws.

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Viet Nam Development Bank to Be Established

By H.Y – Translated by Trong Khuong

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