For several recent years, Vietnam economy has much developed along with many domestic and international significant events, especially become the official member of WTO. The amount of trading with foreign companies has got a sharp increase, and the volume of imported and exported goods and services has also increased considerably. Therefore, the international payment with foreign companies becomes very important for settling a long time business trading. Acknowledging these requirements, Vietnam Eximbank has made a strong focus on its international settlement department to help the foreign trade carry out as quickly and smoothly as possible.
After a short time as an intern at Vietnam Eximbank Hanoi Branch, I have gained a lot of practical experiences and learnt that the international payment by opening Letter of Credit is the most favorable method to be transacted between Vietnamese companies and other foreign companies through Hanoi Branch of Eximbank’s services.
Being aware of the importance of international settlement in international business, I have decided to choose topic “International payment service by opening Letter of Credit at Vietnam Eximbank Hanoi Branch” for my field study report.
The main focus of this report is designed in three parts:
Part I: Literature review of Export and Import LC and Overview of Eximbank-Hanoi Branch.
Part II: The current situation of L/C payment at Eximbank-Hanoi Branch.
Part II: Development orientation and proposals to improve the international settlement services of Eximbank Hanoi Branch.
