SME Featured Southeast Asia

ADB, TPB sign $25m loan to finance women-led SMEs in Vietnam

Manila, Philippines – The Asian Development Bank (ADB), the regional bank headquartered in Manila, has announced that it has signed a $25m loan with Vietnam’s Tien Phong Commercial Joint Stock Bank (TPB) to expand access to finance of women-owned and -led small and medium-sized enterprises (WSMEs) in Vietnam. The project is also cofinanced by DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) for $25m. 

Furthermore, the loan is accompanied by a $750,000 technical assistance grant to help TPB better meet the needs of WSMEs. The grant will be used to build TPB’s capacity to lend to WSMEs, hire staff, and promote its services to female borrowers. It will also enable TPB to use digital systems to analyze the underserved WSME market. The grant is funded by the Women Entrepreneurs Finance Initiative (We-Fi), which is hosted by the World Bank Group.

“We are very pleased to partner with TPB and We-Fi to support WSMEs, which are important channels to increase women’s participation in Vietnam’s economic development,” said ADB’s Director General for Private Sector Operations Suzanne Gaboury.

“COVID-19 has severely affected many businesses, and initiatives such as this loan and grant will support particularly underserved female borrowers by helping TPB develop systems and procedures to improve their access to finance,” adds Gaboury.

ADB shares data that as of 2018, the majority of businesses in Vietnam are classified as SMEs, supporting 38% of the country’s employment and generating 40% of gross domestic product. But their access to finance is still a challenge, with only 37% of WSMEs able to obtain loans from banks, according to a 2017 study. 

“ADB, DEG, and TPB’s goals are uniquely aligned especially in our mutual support of WSMEs,” said TPB’s Chief Executive Officer Nguyen Hung.

 “We will continue to leverage our strength in digital banking to tailor products and services for WSMEs and plan to increase supply chain financing and support services, liquidity, and digital banking products to reach underserved customers,” added Nguyen Hung. 

TPB is one of the leading joint-stock banks in Vietnam. Currently, it has digital platforms targeted to help meet the needs of its retail and SME customers by offering innovative and customized products.

Marketing Featured Southeast Asia

BBDO Guerrero to lead ‘new normal’ campaigns for PH tourism agency

Manila, Philippines – As the lead creative partner of Philippines’ tourism department, creative agency BBDO Guerrero has long been spearheading the department’s campaigns, but this time, an upcoming collaboration between the two takes on a different view – a campaign that will see promoting Philippines’ tourism amid the new normal.

On Thursday, the agency revealed that it has bagged Tourism Promotions Board’s (TPB) account, an agency under the country’s Department of Tourism (DOT), to develop two promotional campaigns. 

The first one is the ‘Domestic Tourism Welcome Back’ which aims to encourage local tourists to visit Philippine destinations in order to help rebuild the economy, while the second assignment, dubbed as ‘The New Normal for Travelling’, is a campaign targeted at informing people of the travel safety protocols as they visit and explore the country.

BBDO Guerrero is most notably known for being the creative brains behind DOT’s highly acclaimed ‘More Fun In The Philippines’ campaign, which was first launched in 2012. The two upcoming projects with TPB will be complementing the said campaign. 

“BBDO Guerrero has played a significant part in Philippine tourism promotions ever since the DOT developed ‘It’s More Fun in the Philippines’. We are delighted to have them as partners as we invite the local touring public to help the tourism industry bounce back from the challenges of the pandemic,” said TPB Chief Operating Officer Atty. Maria Anthonette Velasco-Allones

In April, DOT and BBDO Guerrero launched a campaign called ‘Wake Up in the Philippines’

The assignments will cover a broad range of materials including videos, virtual tours, outdoor placements, and a variety of digital assets. In April last year, the agency has already helped DOT’s communications adapt to the new normal by releasing a series of films called ‘Wake Up in the Philippines’, aimed at making the country a top destination for foreign tourists as travel restrictions ease. 

BBDO Guerrero Creative Chairman David Guerrero shared, “It is an honor for us to be involved in the reopening of the country to local tourism. And we are excited to share this with everyone as we help our local tourism workers rebuild their livelihoods.”