VietinBank takes home Project Infrastructure Finance Deal of the Year Award - Vietnam

The accolade is in recognition of VietinBank’s role in financing the $128m Nam Tien Phong industrial zone and port complex, a project anticipated to attract substantial foreign investment.

Being a favored investment destination for international players who seek to diversify the supply chain outside China or capture business opportunities in the emerging markets, Vietnam has continuously witnessed huge inflows of foreign investment as a cornerstone of the economy’s growth during the recent years. 

Amongst the key sectors of the economy, industrial real estate and logistics has seen an impressive growth as being a crucial factor for Vietnam to attract investments from global players by fulfilling their demand for the establishment or expansion of manufacturing facilities. Hence, to support the growth of FDI enterprises and bolster the country’s economy, VietinBank has been pioneering in financing major industrial infrastructure projects as  being the leading local bank with a pivotal role in the country’s economy, boasting a cumulative portfolio of of $2.2 billion credit facility granted for industrial infrastructure projects up till now.

As a testament to its relentless efforts in supporting vital projects aimed towards elevating the country’s infrastructure, the bank was honored by the Asian Banking & Finance (ABF) in 2023 with the award “Project Infrastructure Finance Deal of the Year Award-Vietnam”, marking its second year of achieving the award and reinforcing its position as a notable lender in the sector.

Specifically, the deal revolves around the industrial zone and port complex “Nam Tien Phong” situated in Quang Yen Coastal Economic Zone with the scale of 487 hectares and total investment up to $128 million by DEEP C Industrial Zones - a leading foreign-invested industrial infrastructure developer in Vietnam, in which VietinBank acts as the sole lender for the project’s first phase. The loan disbursement then will be used to finance reasonable expenses related to the project such as land clearance, construction and infrastructure development of the industrial park and port. 

Commitment to create the ecosytem and provide one-stop services for FDI enterprises operating in Vietnam

Since this is the first-ever complex containing both the industrial park of world standards and an internal port for international sea freight transportation in the area, the project is highly anticipated to draw in huge investment into the economic zone via strengthening the zone linkage with the global trade and offering critical advantages for newly-established foreign-invested entities in the industrial park complex.

The deal also demonstrated the bank’s commitment to foster the development of an ecosystem for FDI enterprises in Vietnam via financing modern industrial parks and logistics centers as the launching pad to attract more foreign investment from global players with high standards. Furthermore, with the capabilities to provide a full suite of banking services for the whole value chain of enterprises and dedidcated language desks to serve clients from various countries, the bank can extend its offerings of the one-stop services to all foreign investors to support from their establishment of manufacturing centers within the industrial park complex to business growth and expansion in Vietnam market over time. 

Sustainable finance leadership 

As a key lender for major urban industrial park projects of notable developers which are in the process of applying ESG standards such as the Nam Tien Phong project, VietinBank has proved itself as an active player in sustainable finance market in Vietnam and a companion to assist clients along their energy transition journey. 

Notably, the project developer Deep C Industrial Zones has been stepping up the adoption of ESG practices for their industrial park projects such as renting client’s roof for installing solar panels with an aim to achieving 50% of energy consumption from renewable sources by 2030, promoting recycling of water and developing green buildings in line with LEED standards, which is expected to set the new bar for new industrial parks while playing a great role in promoting the sustainable development of the region.

Besides financing eco-friendly industrial park projects, the bank has also financed over $2 billion for renewable energy and waste treatment projects, while continuning to advance support for energy transition projects of its clients operating across various sectors following signing the Memorandum of Understanding promoting ESG in Vietnam with the strategic partner MUFG Bank (the world’s seven largest financing institution) at the COP28 conference in December 2023.

About VietinBank 

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is among the largest banks in Vietnam in terms of scale and network, with total assets reaching 79 billion USD as of June 30th 2023, being listed in the Forbes’ Top 2000 World’s Largest Companies for ten consecutive years.