The loan will be used to expand the Vinschool education system, providing educational facilities for 20,400 students in urban areas of Hanoi, Ho Chi Minh City, and Hung Yen.

“This project marks ADB’s first private sector investment in Vietnam’s education sector and highlights our commitment to fostering sustainable development in the country,” said ADB country director for Vietnam Shantanu Chakraborty. “By supporting the country’s first sustainability-linked loan in the education sector, we aim to enhance educational infrastructure while contributing to new residential hub development in the country.”

ADB has syndicated and structured a financing package that includes a $40 million loan from ADB Ordinary Capital Resources, a $35 million loan from the Leading Asia’s Private Sector Infrastructure Fund 2 (LEAP 2) administered by ADB, and $75 million in parallel loans.

The parallel loans comprise $40 million from ILX, an Amsterdam-based emerging market asset manager, and $35 million from the Emerging Africa & Asia Infrastructure Fund, an emerging market infrastructure debt fund established by the Private Infrastructure Development Group and managed by NinetyOne. The loan has been validated through a second-party opinion from DNV Business Assurance Vietnam Co., Ltd.

Vietnam has made significant progress in expanding education coverage, achieving an impressive 98 per cent literacy rate and over 98 per cent primary education enrolment. However, as the nation strives to transition from a developing to a middle-income country, there is a critical need to improve education quality and enhance education access in rapidly urbanising cities. The private sector, including institutions like Vinschool, is vital in bridging this gap.

“We are delighted to partner with ADB and other impact-focused lenders on this groundbreaking initiative. This investment will enable us to provide high-quality learning opportunities to more students while setting a benchmark for sustainable education in Vietnam,” said Vinschool CEO Phan Ha Thuy. “This is a project that underscores Vinschool’s commitment to environmental, social, and governance principles, reinforcing its dedication to sustainable development.”

LEAP 2 is an ADB-managed fund with a $1.5 billion commitment from the Japan International Cooperation Agency. It focuses on sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and provide affordable healthcare, education, and communication services to ADB’s developing member countries.

Established in 2013, Vinschool is the largest private school system in Vietnam, offering high-quality education from kindergarten to high school. Vinschool currently serves more than 48,000 students across 54 campuses in Hanoi, Ho Chi Minh City, and four other provinces, offering both national curriculum and Cambridge bilingual programmes. Vinschool is a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates.

The investment funds include Nextrans, VinVentures, and TheVentures, alongside strategic investors such as Hung Tran (founder of Got It) and Tran Anh Dung (founder of MOG), along with several other individual investors. This investment marks a significant milestone, reinforcing strong confidence in the explosive potential of AI applications in customer experience management.

Founded in 2020 in Silicon Valley and Vietnam, Filum AI aims to help businesses achieve sustainable growth through a comprehensive management solution leveraging advanced AI technology. Led by CEO Tran Van Vien, co-founder of Base.vn (acquired by FPT in 2021), who has over 10 years of experience in digital transformation, Filum AI has built a team of experts in technology, AI, and customer experience, positioning itself as a pioneering startup in this field.

Filum AI provides solutions to optimise customer experience, including personalised interactions, customer journey analytics and optimisation, and AI tools for automated operations. Currently, Filum AI’s products are widely adopted by major enterprises in retail, finance, and services, significantly improving key customer experience metrics.

In an increasingly competitive landscape, research indicates that 86 per cent of customers are willing to pay more for a better experience. AI is emerging as the key for businesses to stay ahead of this trend through advanced applications such as AI Agents, hyper-personalisation, and customer behaviour prediction. According to FPT’s DxReport 2024, CX is the leading AI application domain, with a 38 per cent adoption rate among global enterprises. Vietnam, with its rapid digital transformation and tech-savvy young workforce, is becoming a hotspot for the development of AI-driven CX solutions.

Filum AI’s successful funding round demonstrates strong investor confidence and high expectations for its potential.

“Filum AI is one of the rare startups with strong technological capabilities, a strategic vision, and the ability to create real value for businesses,” shared a representative from VinVentures.

This is also one of the first investments made by the fund since its launch in October 2024. The new capital will enable Filum AI to expand its R&D team, accelerate product development, enhance customer support, and enter the Southeast Asian market. In particular, with the development of AI Agents—autonomous AI-driven workforce—Filum AI aims to become the leading AI CXM platform in the region.

Filum AI believes that AI is not just a support tool but a strategic element for sustainable business growth. In 2025, Filum AI will focus on developing AI agents to help businesses optimise operations, personalise customer experiences, and reduce costs. This platform will be a game-changer, enabling businesses to overcome challenges and establish long-term competitive advantages. With strong backing from investors and trust from customers, Filum AI is poised to make a breakthrough, shaping the future of the industry.

Announced on March 17, the initiative is backed by a 5 million Swiss franc grant from SECO, extending through 2029. It aims to provide more than half a million Vietnamese small and medium-sized enterprises (SMEs) with access to up to $35 billion in working capital.

Vietnam is among the world’s most open economies, with exports contributing approximately half of the country’s GDP and supporting every second job, directly or indirectly. However, Vietnamese suppliers and exporters often face working capital constraints, as payments for delivered goods typically take 30 to 60 days. This limits their ability to accept larger orders and establish new business relationships. A recent World Bank survey found that less than one-fifth of local firms had global value chain linkages in 2023.

Better access to SCF can help address these challenges by converting sales receivables and inventories into cash, reducing funding costs, and accelerating trade cycles. It also strengthens local connections to global value chains and frees up capital for investment in research and development, technology, and workforce training.

“We estimate that the first phase of the programme has unlocked over $30 billion in capital for around half a million Vietnamese SMEs,” said Thomas Gass, Swiss Ambassador to Vietnam. “By providing financial support to these businesses, the programme has not only helped SMEs to thrive but also contributed to broader economic growth, fostering a more inclusive and sustainable marketplace.”

Launched in 2018 with SECO’s support, IFC’s Vietnam SCF Programme has worked to address key market barriers hindering the growth of SCF. Its focus has been on fostering an enabling environment, enhancing institutional readiness, and increasing market demand and awareness. Over the past five years, the programme has contributed to improvements in movable finance regulations, provided tailored SCF strategy advice to four banks, and facilitated up to $33 billion in receivables and inventory financing for 500,000 SMEs.

“The State Bank of Vietnam, in collaboration with IFC and SECO, will continue to review and adjust regulations to foster a more favourable environment for SCF. This includes refining rules for e-financing platform lending and incentivising financial institutions to diversify their offerings, ultimately improving credit access for SMEs,” said deputy governor Nguyen Ngoc Canh.

The second phase of the programme, running over the next five years, will focus on strengthening Vietnam’s legal and regulatory framework to support SCF market development. It will also enhance the institutional capacity of lenders, enabling them to offer comprehensive SCF solutions to local SMEs. A key priority will be increasing awareness and capacity among buyers and suppliers, encouraging greater adoption of SCF across Vietnam.

“Trade is a key driver of Vietnam’s economy, and it will play a central role in the country’s ambition to achieve high-income status by 2045,” said Thomas Jacobs, IFC country manager for Vietnam, Cambodia, and Laos. “IFC is pleased to be working with SECO and our banking partners to help develop the supply chain finance market, which is a crucial component of the financial ecosystem for SMEs.”