Vietnam plans $20bn loan package for infrastructure and technology

Vietcom, BIDV and other banks boost growth drivers amid Trump turbulence

COPIED: 20240611 dong-nai-to-develop-smart-urban-area-near-new-airport.jpg

The main terminal of Long Thanh International Airport under construction. It is set to be a main transportation hub for southern Vietnam. (Photo courtesy of Airports Corporation of Vietnam)

MAI NGUYEN

HANOI -- Vietnam is planning a 500 trillion dong (around $20 billion) loan package involving 21 banks to finance infrastructure and technology projects aimed at boosting economic growth -- a financing move that is historically atypical for the country.

The Southeast Asian nation is targeting economic growth of around 8% this year, up from 7.1% in 2024, the highest in two years, despite potential damage from the trade war triggered by the U.S., its biggest export market.

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