The partnership aims to mobilise up to USD 325 million in international capital for education development projects in Vietnam, facilitated by the connecting role of the Vietnam International Financial Centre in Ho Chi Minh City.
On the occasion of the official visit to New York by General Secretary and President To Lam, EQuest Education Group, EQuest Capital (an EQuest Education Group company and a member of VIFC-HCMC) and Standard Chartered Bank (New York Branch) officially signed a Memorandum of Understanding (MoU) to cooperate in mobilising international capital with an expected total scale of up to USD 325 million for education projects in Vietnam.
The MoU was signed by senior executives of the two groups: Ms. Mandy DeFilippo, Chief Executive Officer of Standard Chartered for the United States and Europe, Americas, Middle East and Africa (EAMEA); Mr. Nguyen Quoc Toan, Chairman of EQuest Education Group; and Mr. Truong Hoang Nam, Deputy Chief Executive Officer in charge of Finance of EQuest Education Group and Director of EQuest Capital (a member of EQuest operating under VIFC-HCMC). The signing ceremony was witnessed by General Secretary and President To Lam, the delegation of the Government of Vietnam, and Mr. Richard Dean McClellan, Chief Executive Officer of VIFC-HCMC.
The agreement opens up opportunities to connect international capital with long-term education projects in Vietnam, spanning K-12 and higher education, technology training, and the development of high-quality human resources.
Advancing VIFC-HCMC’s role as a gateway for international financial resources
Under the agreement, Standard Chartered, one of the world’s leading international financial institutions with a deep network connecting the United States, Singapore, Vietnam and major global financial centres, will act as a strategic partner in structuring and participating in the arrangement of financing packages. The international capital to be mobilised, with a total scale of up to USD 325 million, is expected to be disbursed through EQuest Capital before being deployed into infrastructure and education-quality projects of EQuest Education Group across Vietnam, with Ho Chi Minh City as the key focus of the plan.
EQuest Capital is a member of the Vietnam International Financial Centre in Ho Chi Minh City (established under Resolution No. 222/2025/QH15 of the National Assembly and Decree No. 323/2025/ND-CP of the Government). Through VIFC-HCMC’s financial ecosystem, together with its preferential policies and mechanisms on foreign exchange management, taxation and an internationally aligned legal framework, EQuest Capital will be well positioned to receive, structure and deploy investment capital directly into key projects in a transparent, secure and economically optimal manner.
A breakthrough driver for university urban infrastructure and high-quality education
The mobilised capital is expected to be allocated and disbursed by EQuest Capital across EQuest’s strategic investment priorities in Vietnam, with Ho Chi Minh City serving as the core hub, including:
- Building a technology-focused university campus: offering undergraduate and postgraduate training in frontier technology fields such as Artificial Intelligence (AI), Cybersecurity, Data Science, Robotics, Semiconductors, Industrial Systems Engineering, as well as Nursing and Healthcare;
- Expanding international university partnerships in Vietnam: prioritising investment, joint training programmes, facility upgrades and campus infrastructure development with reputable universities and institutes across Asia and the United States;
- Developing a network of international schools: delivering a high-quality, multi-level K-12 education model for Vietnamese students and the children of the international expert community;
- Developing a private K-12 school system: upgrading and scaling EQuest’s K-12 education brands;
- Developing an education technology (edtech) platform: providing technology applications and education programmes in Vietnam and worldwide.
In addition to the above, Standard Chartered plans to jointly explore and provide credit products and convenient foreign exchange management solutions for the global community of experts and faculty members.
Speaking at the event, Mr. Truong Hoang Nam, Deputy Chief Executive Officer in charge of Finance of EQuest Education Group, said the agreement marks an important milestone in EQuest’s strategy of mobilising international resources for education. Through the partnership with Standard Chartered and the connecting role of VIFC-HCMC, EQuest expects to progressively expand its access to long-term capital to invest in infrastructure, develop training programmes and enhance the quality of education in Vietnam.
Mr. Richard Dean McClellan, representing VIFC-HCMC, shared: the partnership between EQuest and Standard Chartered embodies the very role VIFC-HCMC aspires to play, which is bringing international financial institutions to long-term investment projects in Vietnam. Channelling global financial resources into concrete education projects also opens opportunities for Vietnamese education enterprises to engage more deeply in international financial networks and cooperation, thereby contributing to the policy of mobilising private resources for education and developing high-quality human capital for Vietnam.
Following the signing ceremony, the parties will continue to jointly assess feasibility, determine financing structures and develop an implementation roadmap for each project group. Capital mobilisation and disbursement will be carried out in line with actual progress and subject to the necessary legal conditions and approvals..
About the organisations
- About EQuest Education Group
EQuest Education Group is one of the largest private education organisations in Vietnam, with an ecosystem spanning three core areas: K-12 education, higher and vocational education, and education technology (EdTech).
As of September 2026, EQuest operates more than 25 educational institutions across Vietnam, serving nearly 20,000 K-12 students and 10,000 university and college students. In addition, more than 180,000 students in Vietnam and around the world are using education technology programmes and solutions provided by members of the EQuest ecosystem.
Over the course of its development, EQuest has received investment from a number of international investors, including Vietnam Oman Investment (VOI), TAEL Partners (Singapore) and KKR (United States). The participation of international investors has supported EQuest in scaling its operations, enhancing education quality and deepening international integration.
For more information: https://EQuest.vn/
- About Standard Chartered
Standard Chartered is a leading international banking group with a presence in 53 of the world’s most dynamic markets, focused on connecting clients with growth opportunities across Asia, Africa and the Middle East. The bank is listed on the London and Hong Kong stock exchanges.
Standard Chartered began operating in Vietnam in 1904 and currently has four branches in Hanoi and Ho Chi Minh City. The bank provides financial products and services to individual clients, corporates and financial institutions.
For more information: https://www.sc.com/vn/about-us/
- About the Vietnam International Financial Centre in Ho Chi Minh City
The Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) was established to develop a modern financial centre capable of connecting domestic and international capital flows, financial services and expertise.
VIFC-HCMC serves as a bridge between regulators, businesses, financial institutions and investors, contributing to attracting resources, supporting key projects and strengthening the competitiveness of the economy in the process of international integration.
For more information: https://vifc.gov.vn/
