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Hanoi, 18 August 2026 – At the headquarters of Vietnam Prosperity Joint Stock Commercial Bank (VPBank), 89 Lang Ha, Hanoi, the Vietnam National Chemical Group (Vinachem) and VPBank held a signing ceremony for a Comprehensive Cooperation Agreement, establishing a strategic partnership across finance and capital, project investment, ecosystem and value chain development, international trade, digital transformation, and green transition.

Representing Vinachem at the signing were Mr Phùng Quang Hiệp – Party Secretary and Chairman of the Members’ Council; Mr Nguyễn Hữu Tú – Deputy Party Secretary, Member of the Members’ Council, and General Director; along with representatives from the Members’ Council, Supervisory Board, Board of Management, leaders of member units, and specialised departments.

On the VPBank side were Mr Nguyễn Đức Vinh – General Director; Mr Đinh Văn Nho – Deputy General Director and Head of Corporate Banking; Mr Nguyễn Thanh Bình – Deputy General Director and Head of Credit; as well as senior executives from the bank’s departments and centres.

Two Complementary Platforms in a Long-term Partnership

Founded in 1969, Vinachem operates under a parent-subsidiary company model, with 33 member units and nearly 20,000 staff and engineers nationwide, focusing on six core sectors: fertilisers and plant protection chemicals; mining and processing of apatite ore; tyres and technical rubber; electrochemistry; detergents; and basic chemicals and industrial gases. In June 2026, Vinachem was, for the first time, ranked 148th in the Fortune Southeast Asia 500 by Fortune magazine, with revenues of USD 2.4 billion and profits of USD 146 million in 2025. The Group is currently pursuing dual transformation—comprehensive digitalisation linked with green production—aiming for net zero emissions by 2050 and to become a leading ASEAN chemical, fertiliser, and rubber group by 2030, with a vision to 2040.

VPBank, now in its 33rd year, is one of Vietnam’s leading financial groups, with a multi-sectoral ecosystem serving over 30 million customers. Guided by the mission “For a Prosperous Vietnam,” VPBank is committed to building a universal bank, creating value through comprehensive financial solutions, the power of its ecosystem, and advanced technology. Its three guiding principles are customer-centricity; quality growth based on safe management; and sustainable development as a long-term pillar.

The signing of this Cooperation Agreement is intended to strengthen and deepen the collaboration between the two organisations, providing comprehensive financial solutions and superior, convenient, and secure products and services to clients and partners of both VPBank and Vinachem. The event represents a concrete step towards the Politburo’s Resolution No. 79-NQ/TW dated 6 January 2026, on building large-scale, efficient, and regionally and internationally competitive state-owned economic groups.

Under the Agreement, both parties will leverage their respective sectoral strengths, prioritising the use and recommendation of each other’s products and services. VPBank will research and provide Vinachem and its member units with financial and banking solutions tailored to each stage of development, including working capital, medium- and long-term capital, project finance, trade finance, guarantees, and capital arrangements. Vinachem will periodically share with VPBank its medium- and long-term investment directions and plans, so both sides can proactively explore cooperation in basic and advanced chemicals, deep mineral processing, new materials, high-tech fertilisers, batteries, and energy storage. Rather than addressing each need individually, the two sides will work towards comprehensive financial solutions for the entire ecosystem, gradually connecting goods, cash flows, data, and capital from the Group to its member units, suppliers, distributors, customers, and employees.

In international trade, VPBank will accompany Vinachem in international payments, import-export finance, foreign exchange, and risk management of interest and exchange rates; both sides will utilise each other’s partner networks to expand markets and source raw materials. Green and digital transitions are set as long-term priorities, including developing dedicated green finance programmes for Vinachem and digitalising financial and payment flows throughout the ecosystem.

Mr Nguyễn Đức Vinh – General Director of VPBank, stated: “It is VPBank’s philosophy that once a sector is chosen for participation, we invest seriously, build distinctive capabilities, and strive to excel. In cooperation with Vinachem, our aim is not to launch as many projects as possible, but to focus on those that are rational, effective, and aligned with both parties’ strengths. Leveraging the capabilities of a major financial institution and a leading industrial group, today’s agreement takes the partnership between VPBank and Vinachem beyond individual financial transactions, towards a comprehensive, long-term, and mutually beneficial relationship.”

Mr Phùng Quang Hiệp – Chairman of Vinachem, affirmed: “Vinachem expects this partnership with VPBank to be implemented in a substantive, effective, and sustainable manner, where the agreement’s value is found not just in the signed content but in the concrete programmes, projects, and results delivered in the near future. With our combined resources, ecosystems, and complementary strengths, we believe this cooperation will provide additional impetus for Vinachem’s investment, innovation, and development, while opening new opportunities for both sides to grow and contribute further to the economy.”

The Agreement sets out a model of cooperation moving from isolated transactions to comprehensive partnership, from a customer relationship to a strategic alliance, from product provision to co-creation of solutions, and from serving individual enterprises to connecting the entire ecosystem. This is an alliance between a state-owned industrial group and a private financial institution, established on the principles of equality, transparency, mutual benefit, and shared development.

With this agreement, Vinachem gains a financial partner for investment, digital, and green transformation programmes; VPBank expands its operations to an industrial ecosystem of 33 Vinachem member units and a nationwide network of suppliers, distributors, and customers. The bank’s expertise in financial management and technology, together with the Group’s production base and distribution network, are resources to be jointly developed and leveraged.

This is but a starting point; the results will be measured by the specific programmes and projects jointly implemented in the coming years, contributing to the enhanced competitiveness of Vietnamese enterprises and the broader development of the national economy.