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.

Photo: IPC Binh Dinh

The partnership aims to manufacture high-quality diagnostic test kits using Canadian technology, catering to markets in Vietnam, Southeast Asia, the Middle East, and North America.

The BIDIPHAR-GBM joint venture represents an investment of $10–20 million to develop a state-of-the-art manufacturing facility in Binh Dinh. The collaboration underscores GBM’s commitment to global expansion and pandemic preparedness, positioning the company as a key player in next-generation diagnostics.

Among the joint venture’s key objectives are the advancement of scalable diagnostic solutions for pandemic preparedness and the pursuit of dual listings on the U.S. NASDAQ and Vietnam Stock Exchange within five years.

“Vietnam’s growing healthcare market and strategic location make it an ideal hub for our expansion,” said Jessica Hu, CEO and founder of Gene Bio Medical. “Our partnership with BIDIPHAR will leverage Canadian technology to provide affordable, high-quality diagnostic solutions across global markets. This joint venture aligns with GBM’s mission to enhance global health security through innovation and accessibility.”

GBM, headquartered in British Columbia, Canada, is recognised for its innovations in molecular diagnostics and AI-driven healthcare solutions. The company has an established distribution network across 4,900 independent pharmacies and hospitals in Canada, with its respiratory diagnostic product line expected to receive US Food and Drug Administration approval in 2025.

Binh Dinh has emerged as a premier investment destination in Vietnam, offering a range of incentives for foreign investors, including corporate income tax benefits, import tax exemptions, and land rental incentives.

“We welcome Gene Bio Medical’s investment in Binh Dinh’s biotechnology sector, a key pillar of our economic strategy,” said Lam Hai Giang, Vice Chairman of Binh Dinh People’s Committee. “The province remains committed to supporting international investors by providing world-class infrastructure and regulatory incentives.”

With strong infrastructure and investor-friendly policies, the BIDIPHAR-GBM joint venture is well-positioned for long-term success, contributing to the advancement of Vietnam’s biotechnology sector and expanding its role in the global diagnostics market.

The information was revealed in a pre-feasibility study of the project, which was approved by Binh Duong People’s Committee on March 13.

According to the study, the metro will involve S1 Station in Binh Duong New City centre, Hoa Phu ward, and Thu Dau Mot city. The ending point connects with Suoi Tien Station of Ho Chi Minh City’s Metro Line 1.

This line will span 32.4km, which includes a depot connecting section, and will pass through Tan Uyen, Thu Dau Mot, Thuan An, and Di An.

With an estimated investment capital of $2.52 billion, the metro line is set to feature 19 stations and with a designated speed of 120km/h.

Once completed, the venture will improve connectivity with Ho Chi Minh City, ease traffic congestion, and create growth drivers for local socioeconomic development.

Binh Duong is considering utilising official development assistance alongside budget capital to implement the construction of the first urban railway project in the locality.