VinFast Trading and Production Joint Stock Company
Region and country of operations: Asia, Vietnam
Jurisdiction of registration: Vietnam
Business sector: Transport equipment
Date of agreement (month/year): 10/2022
Finnfund’s financing: USD 15,000,000
Share of Finnfund’s financing: 11%
Size of project/financing: USD 135,000,000
Environmental and social category: B
Established in 2017 by Vingroup JSC, VinFast is Vietnam’s leading automotive manufacturer and the only domestic, home-grown brand in the car and motorcycle market.
The Company has established a strong reputation in electric vehicles and is, with the support of USD 135 million syndicated debt arranged by ADB, expanding its electric bus manufacturing operations and charging network.
Main development impact
Hanoi and Ho Chi Minh City are among the 15 most polluted cities in Southeast Asia. The main cause of emissions is cars and motorbikes. The c. 200 e-buses on the road by the end of 2022 will avoid 11 tons of PM2.5 and 1,400 tons of NOx air pollution emissions over their lifetime. VinFast employs 5,975 employees and is looking to add a further 8,000 high-quality manufacturing jobs by 2026.
Last modified: March 2023