Export Finance Australia and Vietnam Development Bank partner to deepen trade and investment
Export Finance Australia (EFA) and Vietnam Development Bank (VDB) have signed a Memorandum of Understanding (MoU) to strengthen cooperation and unlock new opportunities for trade and investment between Australia and Vietnam.
Media release
26 June 2025
Export Finance Australia (EFA) and Vietnam Development Bank (VDB) have signed a Memorandum of Understanding (MoU) to strengthen cooperation and unlock new opportunities for trade and investment between Australia and Vietnam.
The agreement marks an important milestone in the economic relationship between the two countries and follows the recent elevation of the bilateral relationship to a Comprehensive Strategic Partnership.
As part of the Australian Government's implementation of Invested: Australia's Southeast Asia Economic Strategy to 2040, EFA is deepening its engagement with Vietnam. This includes building on a strong track record of supporting Australian exporters and financing Vietnam’s infrastructure priorities. EFA’s in-market presence through the Investment Deal Teams initiative is also helping to grow a strong pipeline of opportunities and forge new connections with government, business and financial institutions.
The MoU establishes a framework for EFA and VDB to explore joint financing initiatives and share expertise in support of projects that boost trade and investment between the two countries and deliver sustainable infrastructure development outcomes in Vietnam. It also highlights the growing alignment between the two institutions as policy-driven financiers focused on national priorities and regional impact.
The MOU was signed by EFA Managing Director & CEO, Mr John Hopkins and VDB General Director, Mr Dao Quang Truong. The signing was witnessed by VDB Chairman, Mr Le Van Hoan, EFA Country Lead for Vietnam, Mr Charith Amarasinghe, Acting Economic Counsellor from the Australian Embassy Hanoi, Ms Bernadette Thompson, and other attendees. The ceremony was hosted by VDB at its headquarters in Hanoi.
Mr Hopkins said the agreement comes at an important time and aligns closely with both countries’ strategic goals.
“As part of our support for the Australian Government’s implementation of Invested: Australia’s Southeast Asia Economic Strategy to 2040, Vietnam is one of our highest priority markets”, Mr Hopkins said. “This MoU creates new opportunities for collaboration in areas such as renewable energy, transport and digital infrastructure.”
“EFA is focused on accelerating the region’s transition to a low-emissions future by working with trusted partners like VDB to mobilise investment and crowd in private capital.”
VDB Chairman, Mr Hoan, said " The elevation of the Vietnam–Australia relationship to a Comprehensive Strategic Partnership, is a significant milestone that expands cooperation between the two countries across several key areas."
Mr Hoan also expressed his appreciation for EFA as a valuable and potential partner in promoting trade and investment ties between Australia and Vietnam. He noted that, along with VDB’s development priorities, both organisations will leverage their respective functions and mandates to promote greater economic exchange and collaboration.
ENDS
Media contact:
About Export Finance Australia (EFA)
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas investment and infrastructure development. From small and medium-sized enterprises to large corporates, foreign governments and infrastructure projects, it helps Australian businesses take on the world. In doing so, EFA finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.
About the Vietnam Development Bank (VDB)
VDB is a policy bank of Vietnam, operating on a non-profit basis to carry out policy credit of the state and other duties as prescribed by the Vietnam Government and the Prime Minister of Vietnam.
VDB was established with the mission of being a development finance institution, aiming to realise the country’s socio-economic development policies toward prosperity and sustainable development. Its vision is to become a modern bank that plays a key and leading role in Vietnam’s economy in the field of development finance.
VDB carries out its mission and vision through core activities such as providing medium- and long-term loans for investment projects in socio-economic development, renewable energy, sustainable development, green growth and more.
