Signing a credit contract of 6,750 billion VND to expand the Ho Chi Minh City

The credit agreements with Vietcombank and Agribank will help VEC secure sufficient funding to complete the expansion project of the Ho Chi Minh City - Long Thanh expressway by the end of December 2026.

The Vietnam Expressway Investment and Development Corporation (VEC), Vietnam Foreign Trade Commercial Bank ( Vietcombank ), and Vietnam Agricultural and Rural Development Bank (Agribank) have just signed a credit agreement for the expansion project of the Ho Chi Minh City - Long Thanh expressway section.

The recently signed credit agreement, worth VND 6,750 billion, has a loan term of 20 years from the date of the first disbursement and a 2-year grace period for principal repayment, providing VEC with sufficient capital to implement the expansion project of the Ho Chi Minh City - Long Thanh expressway - a key transportation infrastructure project, enhancing connectivity between the center of Ho Chi Minh City and Long Thanh International Airport ( Dong Nai ).

Previously, on June 6, 2024, Vietcombank and VEC signed a framework agreement for capital arrangement and close coordination to research, develop, and report to competent state management agencies feasible financial options for the Ho Chi Minh City - Long Thanh Expressway expansion project. Based on that, on April 29, 2025, the Prime Minister officially assigned VEC as the managing agency for the project.

By September 3, 2025, VEC designated Vietcombank as the lead bank for arranging financing and Agribank as the syndicated partner bank, completing the financing structure for the Project.

The participation of two leading and reputable state-owned commercial banks in Vietnam not only ensures stable and long-term funding for the Project, but also contributes to creating a ripple effect in mobilizing social resources for the development of strategic transportation infrastructure.

This confirms the validity of the cooperation model between state-owned enterprises in the infrastructure sector and major commercial banks; contributing to attracting more social resources into infrastructure investment, promoting regional economic development and enhancing competitiveness.

Specifically, Vietcombank and Agribank bring the financial strength, capital arrangement experience, and risk management expertise of leading state-owned commercial banks; while VEC is a key infrastructure enterprise in the highway sector, directly organizing implementation, quality management, and operation of the projects.

The partnership with two leading financial institutions in Vietnam will help VEC strengthen its capital mobilization capacity, diversify its capital structure, and optimize the use of equity capital for key projects in the coming period.

Based on this, VEC is in a position to accelerate the implementation of projects to expand the Noi Bai - Lao Cai expressway and the Cau Gie - Ninh Binh expressway, while also participating in research on upgrading the Eastern North-South expressway from 2-4 lanes to 6-8 lanes, in accordance with the Government's directive.

The Ho Chi Minh City - Long Thanh expressway expansion project has a total investment of nearly 15,000 billion VND, with VEC as the managing agency, implementing it in the form of public investment with mixed capital from the central budget and capital mobilized by VEC.

Construction on the project commenced on August 19, 2025, and is expected to be substantially completed by December 2026, as directed by the Prime Minister.

This is a particularly important and strategic transportation project, expanding development opportunities not only for Ho Chi Minh City and Dong Nai but also for the entire southeastern region of Vietnam.

The Ho Chi Minh City - Long Thanh Expressway is a vital route among the eight routes connecting to Long Thanh International Airport, helping to comprehensively utilize and maximize the investment efficiency of the Long Thanh International Airport Project; meeting the increasing transportation demand, shortening travel time and costs, attracting tourists, promoting socio-economic development, and ensuring national defense and security for the Southern Key Economic Region.

In addition, the project is the first to be implemented under the public investment model, with a state-owned enterprise acting as the managing agency, as stipulated by the Law on Public Investment.

Currently, VEC is requiring contractors to maximize the mobilization of manpower and equipment; organize construction in "3 shifts, 4 teams," "eat quickly, sleep urgently," and "work through holidays, Tet, and weekends" to accelerate progress.

VEC also directed the Project Management Board to closely coordinate with the People's Committee of Ho Chi Minh City and the People's Committee of Dong Nai province to resolve difficulties regarding land acquisition, sources of common construction materials, and to expedite the disbursement of payments for completed work... in order to strive to complete the Ho Chi Minh City - Long Thanh Expressway expansion project on schedule and ensure quality.

Source: https://baodautu.vn/ky-hop-dong-cap-tin-dung-6750-ty-dong-de-mo-rong-cao-toc-tphcm---long-thanh-d441359.html