The Long Thanh International Airport construction investment project, phase 1, is a particularly important national project, of great significance to the socio-economic development of Vietnam.
The signing ceremony took place on the afternoon of June 1, 2024, at Melia Hotel, 44 Ly Thuong Kiet, Hanoi and was honored to welcome Politburo member, Prime Minister Pham Minh Chinh to attend and give a speech.
The event was also honored to welcome the presence of Ms. Nguyen Thi Hong - Member of the Party Central Committee, Governor of the State Bank of Vietnam; Mr. Ho Duc Phoc - Member of the Party Central Committee, Minister of Finance; Mr. Nguyen Long Hai - Alternate Member of the Party Central Committee, Secretary of the Party Committee of the Central Enterprises Bloc; Ms. Mai Thi Thu Van - Deputy Head of the Government Office; Mr. Bui Ngoc Lam - Deputy Inspector General of the Government; Mr. Nguyen Ngoc Canh - Vice Chairman of the State Capital Management Committee at Enterprises; Ms. Nguyen Thi Phu Ha - Deputy Head of the National Assembly's Finance and Budget Committee; Mr. Pham Quang Dung - Deputy Governor of the State Bank of Vietnam.
Prime Minister Pham Minh Chinh gave a speech at the signing ceremony.
On Vietcombank's side, there were Mr. Nguyen Thanh Tung - Deputy Secretary in charge of the Party Committee, General Director; Mr. Do Viet Hung - Member in charge of the Board of Directors; members of the Board of Directors, Deputy General Directors, Directors of Blocks, Directors of some Branches and leaders of relevant Departments/Offices/Centers at the Head Office.
On the side of Vietnam Airports Corporation (ACV), there was the presence of Mr. Lai Xuan Thanh - Chairman of the Board of Directors, along with leaders of the Board of Directors and Executive Board of ACV. Representatives of the leaders of the two joint-capital banks, there were Mr. Tran Minh Binh - Chairman of the Board of Directors of VietinBank, Mr. Phan Duc Tu - Chairman of the Board of Directors of BIDV, along with a number of members of the Executive Board and Directors of branches directly involved in funding these two banks. Also attending the signing ceremony were Mr. Pham Duc An - Chairman of the Board of Directors and a number of members of the Executive Board of Agribank.
Representatives of ACV leaders and representatives of the joint venture banks (Vietcombank, BIDV, Vietinbank) performed the credit contract signing ceremony.
Speaking at the ceremony, Prime Minister Pham Minh Chinh highly appreciated the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) for closely coordinating with the Vietnam Airports Corporation (ACV) and the joint venture banks (Vietinbank and BIDV), under the direction of the State Bank of Vietnam and the State Capital Management Committee at Enterprises to successfully arrange capital for the project and successfully organize this event.
The Prime Minister requested that the investor ACV and the State Capital Management Committee at enterprises continue to coordinate and accompany the joint-capital banks to implement the Long Thanh International Airport Project to meet the loan commitment, effectively disburse on schedule and ensure quality. In particular, special attention should be paid to the coordination of progress and completion time of the remaining bid packages to ensure the connectivity and progress of the entire project; Early research and proposal of plans to implement preparations for the construction of phase 2 so as not to affect the exploitation activities of phase 1.
The Prime Minister also requested that state-owned commercial banks in particular and the banking sector in general continue to research and participate in arranging capital for important national projects; encourage domestic investors to promote a proactive spirit, enhance autonomy and endogenous capacity in investment and development cooperation.
At the ceremony, Governor of the State Bank of Vietnam Nguyen Thi Hong, Vice Chairwoman of the State Capital Management Committee, also delivered a speech. The comments affirmed and highly appreciated the role and capacity of State-owned commercial banks in financing key national projects, contributing to promoting the country's socio-economic development.
The consortium of Vietcombank - VietinBank - BIDV has successfully arranged 1.8 billion USD for Component Project 3 - Long Thanh International Airport Phase 1 invested by Vietnam Airports Corporation - ACV, equivalent to about 45% of the total investment of the project, in which Vietcombank is the lead bank. This event affirms the outstanding capacity of State-owned commercial banks in arranging medium and long-term foreign currency credit for customers with the largest value in the banking industry to date.
Accordingly, Vietcombank is the leading bank participating in financing 1 billion USD, with the joint venture banks (NHHV) including VietinBank financing 450 million USD, BIDV financing 350 million USD. The quick arrangement of the above large-scale financing sources has timely supported the Investor ACV to sign construction contracts with contractors, meeting the project implementation progress under the close direction of the Prime Minister.
This is the project with the largest amount of capital funding in the banking industry and is also the first project to be arranged entirely with medium and long-term USD sources from Vietnamese commercial banks, specifically State-owned commercial banks, with more competitive conditions compared to the option of ACV investor borrowing capital directly from international financial institutions.
The US$1.8 billion syndicated loan by state-owned commercial banks for a major project not only contributes to promoting safe and sustainable credit growth in the coming time but also demonstrates the position and strength of Vietnamese commercial banks in arranging capital for complex, large-scale projects. At the same time, the successful capital arrangement contributes to enhancing the position of Vietnamese commercial banks, creating initiative for domestic investors not to depend on foreign loans.
Mr. Lai Xuan Thanh - Chairman of the Board of Directors of Vietnam Airports Corporation (ACV) spoke at the Signing Ceremony
Previously, on March 1, 2022, the project investor, ACV, officially assigned Vietcombank as the focal bank to arrange capital for Component 3 Project - Essential works in the airport under the "Long Thanh International Airport Construction Investment Project - Phase 1". Accordingly, Vietcombank and other banks have established a joint appraisal team, completed a joint appraisal report and quickly submitted it to the competent authority for approval of credit for the project. At the same time, Vietcombank is the focal bank reporting to the State Bank of Vietnam to unify the contents of the submission for approval of medium and long-term foreign currency loans to ACV. At the end of November 2022, the State Bank of Vietnam issued a document approving three banks, Vietcombank, VietinBank, and BIDV, to lend medium and long-term foreign currency to ACV to implement the project.
Mr. Nguyen Thanh Tung - General Director of Vietcombank spoke at the signing ceremony
Speaking to the Prime Minister at the ceremony, Mr. Nguyen Thanh Tung - General Director of Vietcombank said: "As the leading bank in arranging capital, Vietcombank commits to closely coordinate with the Investor ACV and the joint-capital banks, arranging the best resources with the highest priority to ensure the disbursement progress meets the implementation progress of the Project, contributing to creating new growth momentum for the economy".
The Long Thanh International Airport construction investment project, phase 1, is a particularly important national project, of great significance to the socio-economic development of Vietnam with an investment scale of 1 runway and 1 passenger terminal along with synchronous auxiliary items with a capacity of 25 million passengers/year and 1.2 million tons of cargo/year. It is expected that after completing all phases, Long Thanh International Airport will reach a capacity of up to 100 million passengers/year and become the largest airport in Vietnam in the future, aiming to become one of the international air transit hubs in the region. Long Thanh International Airport is expected to contribute about 0.98% to Vietnam's GDP in 2030, creating 200,000 jobs and having a spillover effect on the overall socio-economic development of Vietnam.
Source: https://phunuvietnam.vn/vietcombank-va-acv-ky-ket-hop-dong-cap-tin-dung-18-ty-usd-cho-du-an-cang-hang-khong-quoc-te-long-thanh-20240603111258874.htm
Comment (0)