HO CHI MINH CITY – The U.S. International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan today traveled to Ho Chi Minh City, his second trip to the country in two months, in a firm demonstration of the importance of the country to DFC and to the United States. With $737 million in exposure, Vietnam is DFC’s largest market in Southeast Asia.
“Two months ago, President Biden’s visit to Vietnam was a historic milestone in the bilateral relationship. I joined that visit to emphasize the United States’ commitment to bolstering Vietnam’s private sector. I am back in Vietnam to continue that important work,”said DFC CEO Scott Nathan. “Over the past year, Vietnam has become DFC’s largest market in Southeast Asia, with commitments across our priority sectors, including energy, agriculture, health, and small business support. I know we can do even more to create opportunity and prosperity for Vietnam’s people by unleashing the power of private capital.”
CEO Nathan met with current and prospective clients, public and private-sector leaders, and beneficiaries of DFC’s work. In particular, he met with a delegation of visiting companies looking to further invest in the country; met with stakeholders investing in renewable energy and advancing the Just Energy Transition Partnership (JETP); and visited Fulbright University Vietnam, which is using its $37 million loan from DFC to construct its new campus in Ho Chi Minh City that will expand access to higher education in Vietnam.
In September 2023, CEO Nathan joined President Biden in Hanoi to elevate the U.S.‐Vietnam relationship. This time, in Ho Chi Minh City, CEO Nathan, along with U.S Ambassador to Vietnam Marc Knapper, conveyed DFC’s enduring commitment to helping build a strong, independent, prosperous, and resilient Vietnam within the framework of the Comprehensive Strategic Partnership.
During CEO Nathan’s previous trip to Vietnam, he announced two new commitments that nearly tripled DFC’s portfolio of investments in the country – more than $400 million in new financing to help expand access to finance for two major Vietnamese banks, VPBank and TPBank. These investments will bolster lending to small businesses across the country, including those owned by women, a group that has often faced significant challenges accessing finance.
The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.