Vietnam central bank opens $28 billion credit channel for Vingroup and Sun Group megaprojects

The State Bank of Vietnam (SBV) issued a special mechanism on 22 June that lets banks exclude loans for 18 large‑scale infrastructure and property projects from their annual credit‑growth quotas. The arrangement targets projects led by Vingroup, Sun Group and Masterise, with an estimated financing need of about US$28 billion, 85 % of which is expected in the next three years. Eligible works include the APEC summit venue in Phu Quốc, the Rach Chiếc national sports complex, the Ben Thanh‑Can Giò and Hanoi‑Quang Ninh high‑speed rail lines, and the Gia Bình International Airport.

By carving out these loans, banks gain additional lending capacity while the system‑wide credit‑growth target remains at 15 percent. SBV also raised the permissible share of short‑term deposits for medium‑ and long‑term lending to 40 percent and eased other prudential limits, further expanding funding options for strategic projects. Analysts describe the move as a “targeted form of credit easing” that could add roughly one percentage point to overall credit growth if fully deployed.