Vietnam state-owned enterprise financing and growth

In late July 2026, Vietnam’s state‑owned banks signed major financing agreements with two private‑sector groups. The Bank for Investment and Development of Vietnam (BIDV) partnered with the Ministry of Public Security‑run Global Technology‑Telecom Co. (GTEL) to provide capital, banking, insurance and digital‑transformation services for GTEL’s priority projects. A week later, the Vietnam Development Bank (VDB) reached a similar deal with T&T Group, committing medium‑ and long‑term loan facilities for infrastructure, energy, logistics and industrial‑park ventures.

Within days, Viettel Global – the overseas arm of the state‑owned telecom giant Viettel – reported record H1 2026 results, with revenue up 28% in Q2 and a 122% year‑on‑year increase for the first half of the year. The strong performance was highlighted alongside a government push, under Resolution 79, to raise a handful of Vietnamese SOEs into the world’s 500 largest firms by 2030 and to adopt OECD‑aligned governance. Together, the financing deals and Viettel’s earnings illustrate a coordinated effort to channel state credit into strategic technology and infrastructure projects while driving profitability and international expansion of Vietnam’s state‑owned enterprises.