On March 13, Olea - a digitized supply chain platform that empowers sustainable trade - announced its entry into the Vietnamese market, focusing on providing innovative trade finance solutions to businesses and banks engaged in international trade.
Olea will begin its first partnership with ASEAN Business Partners (ABP), a multi-disciplinary professional services firm specializing in assisting international companies to start and grow businesses in the ASEAN region.
Vietnam, already a prominent player in Asian export markets, has emerged as the fastest-growing economy in Asia. As a result, there is rising demand for financial services that enable businesses to engage in cross-border trade. Olea’s entry into the market will help meet this demand by providing businesses with access to efficient and reliable cross-border financial services.
“We are excited to enter the Vietnamese market and help businesses grow through our cross-border trade finance offering,” said Ms. Letitia Chau, Deputy CEO of Olea. “Our aim is to provide Vietnamese exporters with the trade finance solutions they need to succeed in today’s global economy, and we look forward to working closely with businesses to help them achieve their goals.”
With a strong track record of providing financial services to businesses exporting from Asia to the US and Europe, Olea is well-positioned to support the growth of Vietnamese businesses engaged in cross-border trade. Its services in Vietnam will provide innovative cross-border finance solutions designed to help businesses access financing, increase transparency in processes, and improve efficiency via Olea’s advanced technology platform.
Mr. Sumit Dutta, CEO and Founder of ASEAN Business Partners, said demand for Vietnamese products is increasing, especially among US and European buyers. “We truly believe that Olea’s trade finance solution will be advantageous for Vietnamese corporates,” he added. “At ASEAN Business Partners, we are thrilled about the benefits this partnership will bring to exporters in Vietnam.”
Similarly, Ms. Michele Wee, CEO of Standard Chartered Vietnam. noted that Olea’s entry into Vietnam is one of the most exciting opportunities for businesses in the country in embracing digital platforms to drive cross-border trade finance and accelerate growth. “With the power of digitalization, we can help our clients achieve their growth ambitions,” she said. “With Vietnam emerging as a dynamic and rapidly growing market, we need to continue to capitalize on the digital revolution and unlock new opportunities for success.”