July 4, 2008


Bank service allows Vietnam's seafood exporters to pool shipments
   
  

The Australia and New Zealand (ANZ) Banking Group has introduced a service called the "Buyer Warehouse Receipt" to meet the needs of Vietnam's seafood exporters.


The service was announced at a recent seminar held in Ho Chi Minh City.


ANZ's Buyer Warehouse Receipt allows suppliers to consolidate orders and bulk ship their cargos, then break up these cargos at location to minimise security clearance and compliance costs, Dam Bich Thuy, the CEO of ANZ Vietnam, said at the Vietnam Association of Seafood Exporting and Processing (VASEP) seminar.


The service helps seafood exporters manage cash flow and keeps logistical costs to a minimum, he added. 


ANZ said the package is structured into two sections, including the Buyer Warehouse Receipt to support import and the Pre-Export Finance to support export.


Next, ANZ would seek to cooperate with other warehouse managing companies to extend the Warehouse Financing solution to clients in industries.

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