Agribank and Tata Vietnam signed a cooperation agreement to support agricultural production
August 08, 2018
To concretize the Memorandum of Understanding signed in New Delhi – India in March 2018, August 1- 2018, in Can Tho City, the Bank for Agriculture and Rural Development the Vietnam Agribank and Tata International Vietnam Limited (Tata Vietnam) signed a cooperation agreement to provide a comprehensive and high quality solution in the field of hi-tech agriculture. farmers, cooperatives and farms through financial support from Agribank. The signing ceremony took place in the presence of Mr. Parthavaneni Harish, Ambassador of India to Vietnam.
The signing of this cooperation agreement is for the two sides to participate in joint programs, strategies and business plans. Accordingly, the two sides coordinate, support the introduction and promotion of products and services to promote the business of each party. Agribank will create favorable conditions for customers to buy machinery and equipment distributed by Tata Vietnam with the loan up to 75% of the value of the machine, the mortgage is the machine that farmers buy. In the first 2 years, the interest rate applied 0%; In the next 3 years, 50% interest rate will be supported (applied according to the Prime Minister’s Decision No. 68 of 2013 on supporting policies to reduce agricultural losses); The remaining years are based on market rates. In addition, customers also get insurance insurance, machinery warranty … (by Tata pay). Pham To Vuong, Deputy General Director of Agribank, Through the signing of a cooperation agreement with Tata Vietnam, Agribank is actively contributing to the realization of the Government’s policy on industrialization and modernization of agriculture and rural areas, attaching importance to the development of agricultural mechanization. , high-tech agriculture, clean agriculture. At the same time, we continue to affirm Agribank’s key role in the agricultural and rural credit market in Vietnam and is an opportunity to expand business cooperation with partners in the Indian market.
Tata International Vietnam is a global trading and distribution company of Tata Group, established in 1962 and currently has offices in Ho Chi Minh City, Hanoi and Can Tho, supported by a network of Distributing agricultural machines, tractors with power ranges from 38-400HP (horsepower), sugarcane harvesters, other equipment, will continue to introduce to the market reaper. Combined dam.