MB partners with Khanh Hoa to accelerate local digital transformation

Military Commercial Joint Stock Bank (MB) and Khanh Hoa People's Committee have signed an MoU, establishing a long-term cooperation framework to mobilise financial resources, boost investment, accelerate digital transformation, and support the development of the province's key economic sectors.

The signing ceremony, held on July 3, marks an important milestone and demonstrates both parties' commitment to leveraging their respective strengths in support of Khanh Hoa's rapid and sustainable development goals through 2030 and beyond.

The agreement comes as Khanh Hoa enters a new stage of development with the objective of becoming a centrally governed municipality before 2030 in accordance with the Politburo's Resolution No.09-NQ/TW.

Under the provincial master plan for the 2021-2030 period, Khanh Hoa has adopted a development model built around "one shared vision, two connectivity corridors, three growth poles and four strategic economic pillars."

Sci-tech, innovation and digital transformation are identified as the primary drivers of growth, while Van Phong Economic Zone, the Nha Trang-Cam Lam-Cam Ranh corridor and the southern part of the province will serve as the province's three key growth centres, creating stronger links among industry, logistics, services, tourism, the marine economy and modern urban development.

The new master plan aims to position Khanh Hoa as one of Vietnam's leading marine economic centres, a smart city and a regional innovation hub, with priority given to the development of strategic infrastructure, digital infrastructure, data centres, AI, marine technology, new energy, logistics and high-value service industries.

These priorities are expected to provide a strong foundation for attracting greater domestic and international investment in the years ahead.

To realise these ambitions, the provincial government considers mobilisation of private-sector resources, particularly financing from financial institutions such as MB and strategic investors, to be a critical component of its long-term strategy.

Speaking at the signing, Nguyen Viet Hung, Deputy Secretary of Khanh Hoa Party Committee and Chairman of Khanh Hoa People's Committee, praised MB's financial capacity, technological capabilities and digital ecosystem.

"We expect MB to become a strategic partner in mobilising capital, providing investment advisory services, connecting businesses, and supporting the province in implementing infrastructure projects, digital transformation initiatives, and socioeconomic development programmes," he said.

Nguyen Viet Hung, Deputy Secretary of Khanh Hoa Party Committee and Chairman of Khanh Hoa People's Committee. Photo: MB

After nearly 32 years of development, MB has grown into one of Vietnam's leading financial groups, with consolidated total assets exceeding $64 billion as of the end of 2025. The bank currently serves 38 million customers through its comprehensive financial ecosystem.

MB is also the first joint stock commercial bank in Vietnam whose outstanding loans and customer deposits have both surpassed $40 billion, reinforcing its leadership in digital transformation and its ambition to become a leading digital enterprise and financial group.

In Khanh Hoa, MB has operated for nearly two decades with 11 transaction offices and currently holds the leading market share among joint stock commercial banks in both lending and deposit mobilisation. Beyond providing modern financial solutions to businesses and individuals, the bank has actively implemented numerous social welfare programmes that contribute to the province's sustainable development.

"MB has always viewed its mission as extending beyond financial services. We are committed to serving as a long-term partner to the government, local authorities and the business community in creating sustainable development value," said Luu Trung Thai, chairman of MB's Board of Directors at the ceremony.

Luu Trung Thai, chairman of MB's Board of Directors

Under the MoU, both parties agreed to pursue several strategic areas of cooperation aimed at leveraging their respective strengths to support local socioeconomic development.

The two sides will strengthen information sharing on development priorities, investment demand and the province's strategic sectors, while jointly organising investment promotion, trade promotion, tourism promotion and business networking activities.

They will also explore the deployment of digital transformation solutions, cashless payment systems, digital banking services and broader digital financial services to support the operations of government agencies, businesses and residents.

The cooperation framework further includes connecting financial institutions, technology companies and domestic and international resources to support socioeconomic development, alongside joint implementation of social welfare initiatives, financial literacy programmes and community development projects.

In addition, MB will study opportunities to arrange financing and provide financial solutions for transport infrastructure, industrial parks, logistics, energy, urban development and tourism projects. The bank will also leverage its network to connect domestic and international strategic investors with investment opportunities in Khanh Hoa.

MB and tax authority sign cooperation deal to boost e-tax compliance Military Commercial Joint Stock Bank (MB) has signed a cooperation agreement with tax authorities to support businesses in digital transformation and e-tax compliance.

Hanoi partners with five banks to raise up to nearly $8 billion through bond issuance Hanoi has signed MoUs with five big commercial banks to support the issuance of local government bonds, with plans to raise between $6-7.8 billion during 2027-2030 to finance key infrastructure projects, particularly the capital's urban railway network.

Lenders turn to bond market to strengthen capital base Vietnamese banks are stepping up bond issuance plans worth billions of dollars to replenish capital sources, support lending growth and secure long-term funding amid rising financing demand across the economy.