A credit contract was signed on November 25 between Vietnam Expressway Corporation (VEC) and the two banks, namely Vietcombank and Agribank, under which a 20-year credit facility of VND6.75 trillion ($256 million) will be provided for the expansion project of the Ho Chi Minh City - Long Thanh expressway.
The loan term will start from the first disbursement date, with a two-year grace period for the principal.
This long-term financing structure ensures stable and sustainable disbursement throughout the project's lifecycle. The involvement of the two leading state-owned commercial banks in Vietnam not only guarantees a stable, long-term capital source for the project but also creates a ripple effect in mobilizing social resources for strategic transportation infrastructure development.
The credit facility enables the Vietnam Expressway Corporation (VEC) to proceed with the expansion of the Ho Chi Minh City - Long Thanh expressway, a crucial route connecting the center of Ho Chi Minh City with Long Thanh International Airport in Dong Nai province.
Mr. Le Quang Vinh, General Director of Vietcombank, emphasized that the credit agreement between Vietcombank, Agribank, and VEC reaffirms the commitment and partnership of state-owned banks with key national infrastructure projects, including Long Thanh Airport and expressways connecting Ho Chi Minh City and other localities in the country's Southeast region.
The expansion project of the Ho Chi Minh City - Long Thanh expressway has a total investment of nearly VND15 trillion ($569 million), to be implemented under a public investment model with mixed funding from the central budget and VEC's mobilized capital.
The project commenced on August 19, 2025, and is expected to be substantially completed by December 2026. This strategic transportation project is crucial for expanding development space not only for Ho Chi Minh City and vthe neighboring province of Dong Nai but also for the Southeast region as a whole. It is also the first project executed under the public investment model, with a state-owned enterprise assigned as the managing agency, according to the Public Investment Law.
This financial collaboration enhances VEC's capacity to mobilize and diversify funding sources for other key projects, such as the expansion of the Noi Bai - Lao Cai expressway, the Cau Gie - Ninh Binh expressway, and the study of upgrading certain sections of the North-South expressway as directed by the government.
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