WB arm joins with Japanese lender to invest $60 mln in Vietnamese firms
The World Bank’s IFC is making two new investments in Vietnam’s retail and agribusiness sectors to help strengthen the value chain and support food security in the country.
A partnership between IFC and Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) was signed on Friday in Ho Chi Minh City for a $40 million commodity-backed warehouse finance facility for agricultural firm TTC AgriS, part of the HCMC-based conglomerate TTC Group.

Representatives of TTC AgriS, IFC, and Sumitomo Mitsui Banking Corporation sign a $40 million finance deal on June 16, 2023 in Ho Chi Minh City, southern Vietnam. Photo courtesy of IFC.
On Thursday, the IFC signed an agreement to invest VND460 billion ($20 million) in CVS, a subsidiary of Vietnam’s Son Kim Retail Corp., to help expand the retail network of GS25 Vietnam, a convenience store chain.
For TTC AgriS, it is the first commodity-backed warehouse finance loan provided by the IFC and SMBC. The facility, to be processed under the IFC's Global Warehouse Finance Program (GWFP), will help boost the warehouse financing market in Vietnam, which is still at a nascent stage.
The funding will also encourage local banks to participate in the agribusiness value chain to optimize agri-financing opportunities in this high-potential sector, the World Bank arm said.
“The facility will allow TTC AgriS to take out loans using raw materials as collateral, which will give us increased working capital to be more flexible to procure, store, and distribute materials and goods, leading to a more efficient system,” said Dang Huynh Uc My, vice chairwoman of TTC AgriS.
TTC AgriS, whose former name is TTC Sugar, is Vietnam’s largest sugar producer and has transformed into an integrated agribusiness. It is headquartered in HCMC with its parent company, TTC Group.
“Our cooperation with the IFC and SMBC will be an important part of our circular economy development strategy, in line with our orientation of transforming into an integrated smart agro-economic business model to affirm our leading position as a comprehensive agriculture solutions provider in Vietnam,” My said.
GWFP under the IFC is looking to increase working capital financing available to agricultural producers and traders by leveraging their commodities in storage. To date, the GWFP has supported over $10 billion in global trade, said the IFC.
Thomas Jacobs, IFC country manager for Vietnam, Cambodia and Laos, said in a release on Friday that the IFC has made agribusiness a priority because of its potential for broad development impacts and strong role in poverty reduction. With solid economic growth, an emerging middle class, and rising demand for improved hygiene and food safety in Vietnam, both our investments will help offer improved product variety and services to consumers, support local producers, and facilitate commodity trade flows, key to the country’s future resilience.
The IFC $20 million funding will help GS25 Vietnam - a joint venture between Son Kim Retail and Korean firm GS Retail - open over 500 new convenience stores nationwide by 2025. The network expansion is expected to create up to 6,000 direct jobs (more than 60% for women) and generate thousands more indirect jobs, with the JV increasing its supply of locally produced food.
Son Kim Retail CEO James Kershek said: “We are deeply committed to championing environmental, social, and governance best practices as demonstrated by our diverse and fast-growing workforce, safe and sustainable food offerings, and management decision-making processes.”
The IFC said it will advise GS25 Vietnam to enhance its in-store food safety practices and reduce food loss and waste.
To date, GS25 Vietnam has expanded its footprint to more than 200 stores in HCMC and the neighboring provinces of Binh Duong, Dong Nai, and Ba Ria-Vung Tau.
The IFC and HCMC-based Vietnam International Bank (VIB) also signed a deal in Singapore on Monday for a five-year USD-denominated loan of $100 million to fuel the Vietnamese private bank’s housing portfolio.
- Read More
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7
Philippine energy group eyes investment in Vietnam’s power sector
AboitizPower wants to invest in Vietnam’s electricity industry, especially in transmission infrastructure, said Danel Aboitiz, executive director of the corporation.
Energy - Wed, August 6, 2025 | 11:11 pm GMT+7
- Consulting
-
Navigating tariff shocks: Vietnam’s path forward through diversification
-
Southeast Asia IPO performance in Jan-June
-
Vietnam's fund management industry has chance to make breakthrough development: exec
-
Vietnam infrastructure spending surges 40%
-
Vietnam needs two-pronged policy approach to mitigate impact of rising oil prices: RMIT experts
-
Proactively managing risk in volatile times