Hanoi partners with five banks to raise up to nearly $8 billion through bond issuance

Signing ceremony of an MoU between Hanoi City and partners

The signing ceremony took place on June 29 as part of the Hanoi Capital Master Plan Announcement and Investment Promotion Conference 2026, attended by Vice Chairman of Hanoi People's Committee Nguyen Xuan Luu.

Speaking at the event, Luu said Hanoi had unveiled its 100-year Capital Master Plan on the same day, outlining the vision of developing the city into a green, smart and modern metropolis, as well as a leading centre for culture, knowledge, innovation and international integration.

"Delivering these long-term objectives would require substantial investment, especially for urban railway development. Hanoi, therefore, aims to diversify its financing sources and make full use of the special policy mechanisms granted by the central government to mobilise private-sector capital. In this context, local government bonds will become an important financial instrument for the city's development," he said.

During the ceremony, Hanoi Department of Finance signed cooperation agreements with five major banks: Agribank, VietinBank, BIDV, Vietcombank and MB, to jointly prepare and implement future bond issuances.

Under the agreements, Hanoi plans to issue a range of debt instruments between 2027 and 2030, including local government bonds, project bonds, infrastructure bonds, municipal bonds and green bonds, with total fundraising expected to reach $6-7.8 billion.

The proceeds will primarily finance strategic investment projects, particularly the expansion of Hanoi's urban railway system.

The participating banks will work with Hanoi Department of Finance to develop issuance plans, assess market demand and fundraising capacity, and provide services, including financial advisory, underwriting, issuance agency, distribution, and bond auctions, in accordance with prevailing regulations. The parties will also cooperate on promotional activities to broaden the investor base and improve fundraising efficiency.

Luu urged the Department of Finance to work closely with the participating banks in designing the issuance framework while ensuring full compliance with legal requirements so that future bond offerings are conducted transparently, efficiently and in line with the city's fiscal capacity.

He also called on the five banks to continue serving as Hanoi's strategic partners by providing market analysis, investment advice and support in designing bond products that meet investor demand.

According to Luu, the cooperation will help mobilise financial resources more effectively to support Hanoi's long-term goal of becoming a "Civilised, Cultured and Modern" capital while achieving rapid and sustainable development.

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