HCM CITY — Vietcombank and IDICO have signed a strategic cooperation agreement and a VNĐ4 trillion (US$154.2 million) credit contract to finance the Tân Phước 1 Industrial Park project in the southern province of Tiền Giang.

This marks a key step in their partnership, reinforcing Vietcombank’s role in supporting green transition efforts aligned with Việt Nam’s target of reaching net zero emissions by 2050.

In April, the two sides signed a VNĐ2.45 trillion loan for IDICO’s first eco-industrial park, Vinh Quang (Phase 1) in Hải Phòng City.

As one of Việt Nam’s leading banks, Vietcombank plays a central role in financing major national projects and expanding green credit, which has grown fourfold since 2020 to nearly VNĐ47.6 trillion in 2024. The bank was also the first in Việt Nam to issue green bonds under both local regulations and ICMA standards.

Under the new agreement, Vietcombank will offer a full suite of financial services to IDICO’s ecosystem, including credit, trade finance and investment banking. The bank is also supporting IDICO’s other key projects, including the Cầu Nghìn Industrial Park in Thái Bình Province.

IDICO, a leading developer in industrial real estate, is advancing its strategy around sustainable and integrated industrial zones. With a combined investment of nearly VNĐ9.4 trillion, the Vinh Quang and Tân Phước 1 projects are positioned to attract high-quality, sustainability-focused investors.

The partnership is expected to serve as a model for green finance and sustainable industrial development in Việt Nam. — VNS