On July 23rd 2013, FMO and Vietnam Consult & Trading B.V. (“VCT”) have signed a Memorandum of Understanding to acknowledge the potential in Vietnam of the agriculture and food sector in general and horticulture in particular. Both parties have the intention to closely cooperate to the purpose of financial engineering of special loans or other financial products for Dutch and international major companies or companies with Dutch participation. The signing was done in the presence of the Honorable Ambassador of Vietnam, Mr. Huynh Minh Chinh.
This will be to the benefit of the local business environment, development of private sector and export chances for Dutch businesses and cooperation between the Dutch agriculture and food processing sector and the upcoming Vietnam agriculture and food processing industry sector.
The cooperation is based on FMO being the leading development bank and VCT being the leading consultancy firm on Netherlands/Vietnam, whereas the scope of cooperation includes: a. the use of financial possibilities supplied by FMO for relevant projects, and b. the use of banking knowledge and service supplied by FMO, and c. the use of services of VCT (a.o. partners search and selection, due diligence, financial engineering, application for subsidy, negotiation with local partners, project management, business culture, etc),
As a first project of their intended cooperation Parties agree to engage in establishing a pilot project in horticulture in Vietnam.
