Vietnam seeks European Investment Bank soft loans to advance development agenda
Vietnam is still a developing country with a low starting point and needs assistance in the form of preferential credit, Prime Minister Pham Minh Chinh told the European Investment Bank (EIB) Saturday.
In a meeting with EIB vice president Kris Peetersa at the bank's headquarters in Luxembourg, PM Chinh said the country needs resources, especially financial resources, to achieve the three strategic breakthroughs that it has targeted in terms of institutions, human resources and infrastructure.
The EIB has cooperated with Vietnam since 1996, supporting the development of metropolitan commercial areas, small hydroelectricity projects and urban transportation with a total investment of 561 million euros ($591.4 million) to date.
This year, EIB Global opened its office in Indonesia's Jakarta to reinforce and prioritise the bank’s financing for climate action, urban transport, healthcare, energy security and sustainable infrastructure projects in Southeast Asia.
PM Chinh said Vietnam wished to foster cooperation with the EIB in a more effective manner and on a larger scale, in such spheres as green development, climate change response, digital economy, and circular economy.
He proposed that the two sides redo their framework agreement on finance, which was signed in 1997 to make it match the current situation; and review and remove limitations to ensure the best use of EIB capital in Vietnam.

PM Pham Minh Chinh (front, right) and EIB vice president Kris Peetersa at the bank's headquarters in Luxembourg on December 10, 2022. Photo courtesy of the government's portal.
The Vietnamese leader requested the bank coordinates closely with Vietnam’s Ministry of Finance and relevant agencies to facilitate construction of Metro Line No. 3 in Hanoi and Metro Line No. 2 in Ho Chi Minh City.
Chinh also said the bank should continue to fund suitable projects in Vietnam in green development, digital economy, circular economy and climate change response.
He called on the EIB to adopt a more equal and balanced approach to Vietnam, considering it a developing country with a low starting point.
The PM pledged that his government would work harder to improve procedures and management processes towards making cooperation with the EIB more efficient and effective.
He also suggested the European bank stations representatives in Hanoi like the Word Bank, the Asian Development Bank, and other international institutions.
Peeters promised that the EIB would review the cooperation process to remove obstacles and limitations so that the bank and Vietnam could engage in more development projects.
Later, the Vietnamese PM witnessed the signing of a memorandum of understanding (MoU) between the EIB and state utility Vietnam Electricity (EVN) on supporting clean energy transition towards meeting Vietnam’s goal of carbon neutrality by 2050.
The MoU also covers the enabling of direct financing for power projects in Vietnam as well as strengthening partnerships in electricity generation, storage, transmission, distribution and sales.
After Luxembourg, the Vietnamese PM will visit the Netherlands and Belgium. He will join the EU-ASEAN Commemorative Summit in Belgium’s Brussels on December 14.
- Read More
Indonesia partners with Japan’s SMBC to boost exports
Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.
Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7
Netherlands to invest $300 mln in Indonesia
The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7
Singapore-based Jetstar Asia to cease operations from July 31
Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.
Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7
Indonesia aims to stop corn imports in 2026
Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.
Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7
Nickel extraction threatens archipelago tourism in Indonesia
A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.
Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7
Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam
Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.
Energy - Wed, June 11, 2025 | 5:49 pm GMT+7
Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards
Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.
Companies - Wed, June 11, 2025 | 5:22 pm GMT+7
Tech giant Qualcomm launches AI R&D center in Vietnam
Qualcomm on Tuesday launched an AI research & development (R&D) center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup, a leading Vietnamese conglomerate, earlier this year.
Industries - Wed, June 11, 2025 | 3:16 pm GMT+7
Vietnam seeks big investments in high tech, renewables, logistics: forum
Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.
Economy - Wed, June 11, 2025 | 3:05 pm GMT+7
Making home ownership accessible again: Nam Long ADC chairman
Following the success of delivering over 10,000 affordable homes (EHome) and social housing units (EHomeS) in southern Vietnam, Nam Long ADC – a member of Nam Long Group – is strategically expanding this pioneering model to the northern market. Steven Chu, chairman of Nam Long ADC, provides an insight into this strategic move.
Executive Talk - Wed, June 11, 2025 | 2:00 pm GMT+7
Vietnam, France sign energy, mineral cooperation deals
Vietnamese and French agencies signed two cooperation documents in energy and minerals in Paris on Tuesday (local time).
Economy - Wed, June 11, 2025 | 12:19 pm GMT+7
Spain willing to cooperate with Vietnam in high-speed railway development: Spanish PM
Spain, which boasts the world's second-longest high-speed railway system, is ready to cooperate and share expertise with Vietnam in this field, said Spanish Prime Minister Pedro Sanchez.
Infrastructure - Wed, June 11, 2025 | 11:02 am GMT+7
Vietnam's leading construction materials maker Viglacera projects 21% revenue hike in 2025
Viglacera, Vietnam's leading producer of building materials, targets VND14.44 trillion ($555.12 million) in revenue for 2025, up 21% from last year.
Companies - Wed, June 11, 2025 | 10:38 am GMT+7
Vietnam’s first LNG power plants to begin commercial operation this year
Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, are expected to begin commercial operations this year, according to a new ministerial decision.
Energy - Wed, June 11, 2025 | 10:00 am GMT+7
Europe-Asia Industry Cooperation Forum to take place in Hanoi today
The Vietnam's Association of Foreign Invested Enterprises (VAFIE), in association with F&H International Industry, will organize the Europe-Asia Industry Cooperation Forum in Hanoi today.
Economy - Wed, June 11, 2025 | 7:30 am GMT+7
Thailand's SCG Packaging becomes sole owner of Vietnam's leading plastics firm Duy Tan
SCG Packaging Public Company Limited (SCGP), a subsidiary of Thailand's multi-sector giant SCG, has acquired an additional 30% stake at Duy Tan JSC, becoming the sole owner of the leading producer of rigid plastic packaging products in Vietnam.
Companies - Tue, June 10, 2025 | 10:53 pm GMT+7