SACOMBANK, Vingroup forge comprehensive strategic partnership

HÀ NỘI — Sai Gon Thuong Tin Commercial Joint Stock Bank (SACOMBANK) and Vingroup on April 24 signed a strategic cooperation agreement, marking a significant milestone in establishing a comprehensive, long-term partnership between two leading players in Việt Nam's banking-finance and private sectors.The partnership is designed to leverage each side’s strengths, networks and customer bases to enhance business efficiency, maximise value and build a sustainable, mutually beneficial commercial relationship.The move comes as Việt Nam’s economy continues to post steady growth, with rising demand for medium- and long-term capital for large-scale projects, particularly in industry, technology and infrastructure. Meanwhile, financial digitalisation, cash flow management and the development of integrated platforms are becoming central to corporate strategies. The collaboration between SACOMBANK and Vingroup is expected to effectively address these needs, while contributing to the further development of the banking-finance sector and the broader business ecosystem in Việt Nam.Under the agreement, the two sides will jointly study and gradually implement comprehensive financial and banking solutions provided by SACOMBANK for Vingroup, its subsidiaries, affiliates and ecosystem entities.These include financing and credit solutions for major investment projects and business operations; payment and centralised cash management services to optimise capital efficiency and strengthen financial control; supply chain financing programmes for suppliers, partners, agents and customers; and preferential financial policies for executives and employees.The two sides also plan to co-develop integrated financial products within Vingroup’s ecosystem to deliver greater customer experience and create added value.As part of the partnership, SACOMBANK will prioritise the use of Vingroup’s products and services, including those related to transportation, healthcare, hospitality and other offerings within the group’s ecosystem.Speaking at the signing ceremony, acting CEO of SACOMBANK Faussier Loic Michel Marc said the partnership would generate strong synergies not only for the two companies but also for their entire business ecosystem and customers.“SACOMBANK aims to go beyond being a financial service provider to become a long-term partner, supporting Vingroup in developing integrated solutions tailored to its operations, thereby enhancing operational efficiency and customer experience over the long term,” he said.Nguyễn Việt Quang, Vice Chairman and CEO of Vingroup, said the group values cooperation with reputable financial institutions to enhance governance and optimise resources.“The partnership with SACOMBANK will help diversify financial solutions, strengthen connectivity across the value chain and support our investment and development plans in the coming period,” he said.The agreement is expected to open up new development opportunities for both parties while strengthening linkages between the banking-finance sector and key economic industries, supporting sustainable growth and enhancing the competitiveness of Vietnamese enterprises amid deeper international integration. — VNS