Background

International Bank for Economic Co-operation promotes the development of transport and logistics infrastructure in Vietnam

The International Bank for Economic Co-operation has granted a long-term credit facility to HATECO Logistics (Vietnam) in the amount of EUR 20 million. The funds will be used for the construction and development of logistics infrastructure in northern Vietnam. This is the first transaction implying direct financing of a corporate client in Vietnam in the IBEC new history.

HATECO Logistics is a subsidiary of the HATECO Group, which is active in the commercial and residential real estate investment market. In 2017, the HATECO logistics center was officially opened under the “HATECO Logistics” brand.

The HATECO logistics center is developing a 3PL (Third-party logistics) logistics business model, which includes cargo transportation, customs clearance, warehousing and distribution. Due to the high rates of economic development in Vietnam, the volume of export-import operations is showing stable growth. High demand for logistics services, including from clients focused on foreign economic activity, allows HATECO Logistics to effectively develop its services, which requires investments in infrastructure expansion.

The company has obtained a license with a port code recognized as an official inland place to carry out customs clearance of exported and imported goods. The port of destination in the bill of lading of the logistics center's client companies is Hateco Logistics Port, which leads to optimization of the entire process of processing and transporting foreign trade goods.

The funds provided by IBEC under the credit line will be used to create an infrastructural facility in Vietnam, which, in turn, will contribute to the intensification of export-import relations and to the economic development of the country.

Loan and collateral documentation is subject to Vietnamese law, which illustrates the flexibility of IBEC approaches and its ability to take into account country peculiarities and interests of transaction participants, as well as the ability to structure transactions on mutually beneficial terms.

The contribution of IBEC to the development of logistics infrastructure will also support the early adoption of anti-COVID measures through the improvement and optimization of the supply chain of medicines, equipment and food for the population of Vietnam.

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