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I also worked with a number of banks, and the current situation of the Vietnam Bank for more very difficult, no bank would agree to open the L/C, the next reasons:1. open L/C for shipment across the row was not about and now have Bill of landing and have yet to ever get and prepare payments for former Bank shipments also are very difficult because when the Government of Vietnam has run out of foreign currency reserves.2. The amount of the inventory of the Vietnam market too much because Navistar could not control and to export the car to other agents about Vietnam led to the amount of inventory must cease all consumption new 2016.3. The amount of inventory of the Royal Emblem is 400 trucks expected if quick sale must also 8 months can consume.4. the most important issue is, Vietnam's Government only allows imports of old cars within 10 years, while that of import car production batch 2011 and if the end 2016 could not sell the imported amount then after 2016 used international trucks will hardly be sold due to expired 5 years and banks will not grant credit for borrowers to buy trucks.With the above reason, banks replied:-The Bank wants to wait for upcoming car lot about to check the car (the Bank will grant credit for this car purchase contract), if really all right they will continue to grant credit for the purchase of 200 car marketing-Bank request only imported Trucks Model 2012 production by 2012 to avoid risks in case of excessive inventory, the vehicle may sell next to the year 2017.To better understand the market, I would expect that the UTC time can arrange to Vietnam in December to survey the amount of inventory and the amount of inventory of the market as well as learn the policy of Vietnam's car sales to be able to have a more consistent policy. We have also tried to sell the car but because the amount of inventory on the market too much and too many competing imported units (they also retrieved the car from the UTC), so our consumption output off October 2016 only 171 vehicles.We are looking forward will continue to receive the support of the UTC and look forward to welcoming representatives of UTC in Vietnam in the shortest time.
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