A corporation wants to sponsor half a billion dollars for VinFast

If the evaluation of projects to establish lithium-ion battery production facilities is approved, it is possible that VinFast will be funded 500 million dollars.

Within the framework of COP28, the US International Development Finance Corporation (DFC) has just signed a letter of intent (LOI), wanting to sponsor 500 million USD for VinFast Auto (VFS) in the near future to develop electrified transportation. . Accordingly, this funding will be provided by DFC depending on the evaluation results of VinFast’s projects to establish lithium-ion battery research, development and production facilities in Vietnam.

This is also the first project in a series of sustainable transportation development projects that DFC and VinFast are jointly implementing. To receive the above funding, VinFast will undergo comprehensive assessments on many criteria, being a Vietnamese enterprise with solid finances; comply with DFC and local requirements, relating to development, environmental and social impacts and legality.

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In addition, DFC also appreciates the efforts of the Vietnamese car company, through projects to produce electric vehicles, lithium-ion batteries, and develop charging station infrastructure nationwide…. “DFC’s sponsorship is a stepping stone for VinFast to move forward quickly on its global expansion journey, towards the goal of developing a sustainable transportation future”said Ms. Le Thi Thu Thuy, Global General Director of VinFast.

DFC is an agency under the US Government, responsible for promoting private investment in developing countries. This financial group focuses on projects that create positive development impacts, protect the environment and society, promote human rights and ensure workers’ rights. Before VinFast, DFC announced an investment of 737 million USD in Vietnam, the largest investment capital of this group in Southeast Asia.

VinFast is the only business representing Vietnam to speak and display the VF 9 electric car at COP28, taking place from November 30. COP is the largest international conference on climate change of the United Nations, with an important and long-term influence on the future. This year’s COP28 conference is considered a decisive turning point in 8 years, when world leaders for the first time evaluated the goals set out in the Paris Agreement on climate change.

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