The US International Development Finance Corporation (DFC) has signed a letter of interest (LOI) with electric vehicles maker VinFast considering the Vietnamese company's application for a 500 million USD loan for expansion, VinFast said on December 4.
Hanoi (VNA) - The USInternational Development Finance Corporation (DFC) has signed a letter ofinterest (LOI) with electric vehicles maker VinFast considering the Vietnamesecompany's application for a 500 million USD loan for expansion, VinFast said onDecember 4.
The signing took place on the sidelines of the 28th UN Climate Change Conference ofthe Parties (COP28) in Dubai.
The loan, which will be used to support VinFast'sestablishment of lithium-ion battery manufacturing facilities in Vietnam, issubject to a comprehensive review and approval process by the DFC. The project willbe the first in a series of sustainable transport development initiativesactively discussed by the two sides.
To receive the funding, VinFast will undergo comprehensiveassessments based on various criteria, including strong economic and financialcapabilities, compliance with the requirements of the DFC and relevant localregulations regarding developmental impact, environmental and socialconsiderations, adherence to legal requirements and regulations, among othercriteria.
The DFC highly valued VinFast's outstanding efforts in a series ofprojects, including the production of electric vehicles and lithium-ionbatteries, and a nationwide charging station infrastructure.
The DFC is the US government's agency responsible for promoting privateinvestment in developing countries. It focuses on projects that have positivedevelopment impact, environmental and social protection, uphold human rightsand ensure labour rights.
💧 Prior to VinFast, the DFC had announced a 737 million USD investmentin Vietnam, the largest investment in the Southeast Asia. The signing of theletter of interest with VinFast was considered a significant milestone thatdeepens the Vietnam-US comprehensive strategic partnership./.
VinFast, the electric vehicle maker of Vietnamese conglomerate Vingroup, has announced that it will expand in in 50 markets globally by the end of 2024.
VinFast is showcasing four electric vehicle models - VF 6, VF 7, VF 8 and VF9 - at the Geneva International Motor Show Qatar 2023, the first to be held in Doha, from October 5 - 14.
Vietnam's first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (1.2 billion USD) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko.
The Ministry of Transport (MoT) and the United National Development Programme (UNDP) and the Japanese Embassy in Vietnam jointly held a conference in Hanoi on November 10 to discuss ways to accelerate the transition to electric vehicles.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
At the signing ceremony (Photo: VinFast) 
