The State Bank of Vietnam is implementing a credit program for investment in electricity, transportation, and strategic technology infrastructure.

In accordance with the Government's directives in Resolution No. 77/NQ-CP dated April 10, 2025 and Resolution No. 366/NQ-CP dated November 12, 2025 on the implementation of the Credit Program for Investment in Electricity, Transportation, and Strategic Technology Infrastructure; based on the opinions of the Ministries of Construction, Industry and Trade, and Science and Technology; and the unanimous opinions and registration documents of the following commercial banks: Vietnam Bank for Agriculture and Rural Development; and the following joint-stock commercial banks: Vietnam Foreign Trade Bank; Vietnam Industrial and Commercial Bank; Vietnam Investment and Development Bank; Military Bank; Vietnam Technological and Commercial Bank; Vietnam Prosperity Bank; Tien Phong Bank; Saigon - Hanoi Bank; Ho Chi Minh City Development Bank; Asia Commercial Bank; Southeast Asia Commercial Bank; Maritime Bank; Loc Phat Bank; Vietnam International Bank; Saigon Thuong Tin Bank; Nam A Bank; Bac A Bank; Phuong Dong Bank; Vietnam Export Import Bank; An Binh Bank; On December 8, 2025, the State Bank of Vietnam (SBV) issued Official Letter No. 10825/NHNN-TD providing guidance on several aspects for the implementation of the program.

Regarding eligible borrowers, the target customers are businesses borrowing long-term capital to invest in key national projects in the fields of electricity infrastructure, transportation, and strategic technologies as provided by the Ministries. For the electricity sector: The list of projects participating in the Program is based on Circular 9238/BCT-KHTC dated November 21, 2025, from the Ministry of Industry and Trade. For the transportation sector: The list of projects participating in the Program is based on Circular 14394/BXD-KHTC dated December 2, 2025, from the Ministry of Construction. For the strategic technology sector: Projects producing products included in the "List of National Strategic Technologies and Strategic Technology Products" as stipulated in Decision 1131/QĐ-TTg dated June 12, 2025, and whose eligibility has been confirmed by the Ministry of Science and Technology.

Accordingly, the program will consist of two phases. In the 2025-2026 phase, commercial banks will allocate approximately VND 100 trillion (about 20% of the program's scale) for preferential interest rate loans to strategic infrastructure, transportation, and technology projects. In the 2027-2030 phase, based on the progress and credit needs of the projects, the remaining capital will be allocated and expanded, ensuring that it does not exceed the committed amount of each bank participating in the program, and the total scale of the program does not exceed VND 500 trillion.

Regarding lending principles, the implementation of the Program must be open, transparent, targeted, and in accordance with the law. Borrowers must be eligible for the Program and meet the loan conditions as stipulated by law and the internal regulations of commercial banks regarding lending activities; they are responsible for cooperating with commercial banks during the loan process under the Program. The lending mechanism follows current regulations.

The preferential interest rate of the Program will be at least 1% - 1.5% lower per year than the average lending interest rate for the same term offered by the lending bank. The program will be implemented until the end of 2030 or until the loan volume reaches 500 trillion VND (whichever comes first).

The preferential interest rate will be applied for a minimum of two years from the date of each disbursement (according to each loan agreement), but not exceeding the loan term as stipulated in the loan agreement with the customer. The bank will cease applying the preferential interest rate to loans disbursed after December 31, 2030, or when the capital of the commercial bank registered to participate in the Program is exhausted, whichever comes first.

The interest rate on loans after the preferential period ends will be mutually agreed upon by the commercial bank and the customer, ensuring compliance with legal regulations and clearly defined or specified in the loan agreement signed between the bank and the customer.

If a commercial bank discovers that a customer is using the loan funds for purposes other than those intended, the lending bank will terminate the preferential interest rate and recover all the preferential interest rates granted to the customer from the date of disbursement until the date the preferential interest rate ends.

To implement the program, the State Bank of Vietnam requires participating commercial banks to promptly issue guidelines and organize the unified implementation of the program throughout their respective banking systems. Commercial banks are encouraged, within their authority, to waive or reduce service fees for customers participating in this program, in accordance with the law and bank regulations.

Commercial banks provide loans to customers to implement the Program using their own mobilized capital; they are responsible for reviewing, appraising, and deciding on loans to customers in accordance with the law on lending and are solely responsible for their lending decisions; they classify loans, make provisions, and manage risks for loans under this Program in accordance with the law.

In addition, the State Bank of Vietnam also directed its functional departments and bureaus to monitor and summarize the results of loan implementation and address any difficulties and obstacles arising during the implementation of the Program; and to conduct inspections and supervision of lending under the Program.

Furthermore, the State Bank of Vietnam (SBV) also directs regional SBV branches to monitor and inspect lending under this Program by commercial banks in their respective areas to customers according to their assigned functions and duties; and to promptly report to the Governor of the State Bank of Vietnam any issues beyond their authority. They are also to coordinate with relevant departments and agencies in organizing the implementation of the Program in their areas; and to promptly advise the People's Committees of provinces and cities on resolving any difficulties arising during implementation to facilitate commercial banks in providing credit to enterprises investing in electricity infrastructure, transportation, and strategic technologies as directed by the Government and the Prime Minister in Resolution No. 77/NQ-CP and Resolution No. 366/NQ-CP.