Photo: ITL corp

The loan is part of efforts to support the development of Vietnam’s logistics industry, to facilitate trade and to improve the economy's competitiveness amid the COVID-19 pandemic. 

Bac Giang LGG Garment Corp - a Vietnamese protective workwear maker - said it had received a financial support package worth 12.7 million USD from Standard Chartered to boost its production line of COVID-19 safety suits and masks. 

Nirukt Sapru, CEO of Standard Chartered ASEAN & South Asia, said the bank stood shoulder to shoulder with the Vietnamese garment maker in the fight against COVID-19. 

In another development, HSBC Vietnam became the first foreign-owned bank to issue bonds worth  26 million USD in Vietnam. 

Tim Evans, director-general of HSBC Vietnam, said the bank is committed to Vietnam in the long term and has plans to expand its operation and capital in the future.