Tata International’s Vietnam division signs MoU with state-owned banks
December 12, 2016
Tata International Vietnam (TIVCL) signed a Memorandum of Understanding (MoU) with two State-owned banks of Vietnam – VietinBank and VietcomBank. The MoUs signify the shared aspirations of TIVCL and the banks to extend lean credit to farmers for the purpose of enhancing farm productivity.
Under the MoUs, TIVCL and the banks will assist each other in converting prospective customers and channel partners of Farm Machinery and conduct joint marketing programmes. Customers who choose to purchase Massey Ferguson agricultural equipment, which was launched by TIVCL in the country in late November, will be offered preferential interest rates and / or longer payback periods.
The banking conference, panel discussion and signing ceremony was organised by the State Bank of Vietnam and sponsored by Tata International and Massey Ferguson, TIVCL’s principal for agricultural equipment in Vietnam.