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From credit to sustainable value: Agribank empowers long-term growth for Vietnam’s private sector

19/05/2025

In Vietnam’s dynamic economic landscape, the private sector plays an increasingly crucial role, contributing nearly 50% of the country’s GDP and generating over 80% of jobs. Recognizing this, Agribank has consistently positioned itself as a key driver in empowering private businesses, especially in agriculture and rural development, through a wide range of tailored financial solutions and strategic support. In 2025, Agribank launched nine preferential credit programs targeting essential economic sectors such as import-export, small and medium-sized enterprises (SMEs), and consumption. These programs aim to inject approximately VND 230 trillion into the economy, with a significant portion dedicated to facilitating the growth of private businesses. Agribank’s efforts are not limited to funding but extend to long-term partnerships that prioritize sustainable and inclusive development.

Agribank’s extensive presence in rural areas gives it a unique advantage in supporting farmers, cooperatives, and rural SMEs. According to Dr. Trần Khắc Tâm, Vice President of the Vietnam Association for Consumer Development (VACOD), Agribank has played a vital role in poverty alleviation and rural transformation by ensuring financial access for households and microenterprises across the country. One exemplary case is Mr. Lê Văn Bình, Director of the Nga Hải Cooperative in Hà Tĩnh province, who received Agribank’s support back in 1993 to convert a barren land into a productive melon farm utilizing Israeli greenhouse technology. Agribank’s willingness to take a chance on innovative and sustainable agricultural models laid the foundation for what would become a successful cooperative, inspiring a generation of entrepreneurs to dream bigger and go further.

This commitment is closely aligned with the Vietnamese government’s Resolution No. 68-NQ/TW, which underscores the private sector’s role as an engine for national economic growth. The resolution calls for the removal of institutional barriers and promotes a more transparent and equitable business environment. Agribank has embraced this directive not only by offering credit but by serving as a bridge between policy and practice—actively shaping an ecosystem where private enterprises can thrive. Moreover, the bank’s dedication to sustainable development is reflected in its consistent contributions to social welfare initiatives. In 2024 alone, Agribank allocated nearly VND 700 billion to projects in education, healthcare, poverty reduction, disaster relief, and environmental protection, reaffirming its role not just as a bank but as a socially responsible institution committed to community well-being.

As Vietnam moves forward on its path of economic modernization, Agribank’s comprehensive and people-centered approach stands out as a model for how financial institutions can meaningfully contribute to long-term private sector development. By supporting entrepreneurs with vision, aligning with national policies, and embedding sustainability into its operations, Agribank continues to shape a powerful story of inclusive growth and enduring value.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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