VinFast Secures ADB-Funded Contract to Supply 53 Electric Buses and Charging Infrastructure Valued at Nearly VND 260 Billion

International Standard Tender

Recently, the Project Management Unit for Traffic Construction Investment in Hanoi issued Decision No. 997/QĐ-BQLCTGT, officially approving the contractor selection results for Package EQ-01: Electric Buses and Maintenance, Repair, and Charging Station Equipment – part of the Project to Enhance Sustainable Urban Transport for Hanoi’s Metro Line 3 (Trôi – Nhổn – Hanoi Railway Station – Hoàng Mai).

The VND 259.7 billion tender, funded by an ADB loan, was conducted through international competitive bidding. Its aim is to promote environmentally friendly public transport by integrating feeder bus routes to support the operation of Metro Line 3.

The package includes the supply of 53 medium-sized electric buses equipped with Intelligent Transport Systems (ITS), 27 charging poles, and associated equipment, to be completed within 8 months.

To qualify, bidders must meet stringent ADB criteria, including experience with contracts valued at USD 8 million and an annual average revenue of at least USD 20 million. Bidders must also demonstrate stable cash flow and access to working capital, credit limits, and other financial resources.

The results announced that a consortium of three Vietnamese private enterprises outperformed a foreign competitor to secure the contract. VinFast’s portion alone is valued at nearly VND 248 billion, with the remainder awarded to two domestic equipment and software companies.

Vietnamese Enterprises’ International-Standard Capabilities

According to a seasoned transportation expert, VinFast’s success in winning the ADB-funded tender is a positive signal for Vietnamese enterprises. Historically, international tenders have favored foreign contractors or large state-owned enterprises.

“A Vietnamese private consortium led by VinFast winning an ODA-funded tender from a foreign organization demonstrates that Vietnam’s private sector is now capable of undertaking complex, high-standard projects,” the expert noted.

Trần Đặng Anh Minh, an expert with over 20 years in international investment, agrees. He emphasizes that ADB’s lending conditions are extremely rigorous.

“Beyond sound financial records and production capabilities, ADB requires proven experience in priority areas such as environmental protection, digital transformation, and green transition, aligning with their 2030 Strategy and priority portfolio,” Minh explained.

He added that enterprises seeking ADB-funded projects must go beyond mere profitability. They must demonstrate sustainable business models, internationally compliant Environmental, Social, and Governance (ESG) systems, and the ability to execute large-scale, nationally impactful projects.

“VinFast’s success reflects not just its ability to supply electric vehicles but its international-standard capabilities, enabling it to compete with and surpass many foreign enterprises,” Minh stated.

From another perspective, Minh also praised Hanoi’s green transition efforts and the role of international organizations as Vietnam pursues robust environmental protection measures. He highlighted Vietnam’s advantage with the emergence of capable, large-scale enterprises like VinFast.

PV (Tuoitrethudo)