HSBC Vietnam has provided short-term sustainability-linked trade facilities to Bach Hoa Xanh Trading JSC (Bach Hoa Xanh), a unit of Mobile World Investment Corporation (MWG) Group—Vietnam’s biggest retail group by market value.
The facilities will support Bach Hoa Xanh’s working capital requirements, network expansion and delivery of its sustainability roadmap, according to an announcement.
This is the second ESG-linked facility structured by HSBC for the MWG Group.
Bach Hoa Xanh operates a nationwide network of more than 3,000 stores, providing essential products, differentiated offerings, and convenient shopping experiences. The company has also implemented initiatives to reduce its environmental footprint, including efforts to optimise energy use.
“This transaction shows how sustainability-linked structures can be applied in a practical way to trade facilities that support day-to-day business activity. HSBC has worked with MWG for nearly two decades, and this facility supports our strategy to provide scalable, sustainability-linked balance sheet solutions for leading local corporates. We’re pleased to support Bach Hoa Xanh as its primary international banking partner as it progresses its growth plans and sustainability ambitions.”
“As Bach Hoa Xanh continues to expand our store network and strengthen operations, we’re equally focused on delivering measurable progress against our sustainability roadmap. HSBC Vietnam’s sustainability-linked trade facilities support our working capital needs while linking financing terms with our performance against agreed ESG metrics. We value HSBC Vietnam’s close partnership in setting robust, meaningful KPIs, and we’ll keep advancing initiatives such as optimising energy use across our operations.”
MWG is targeting an initial public offering for Bach Hoa Xanh in 2028.
Speaking at MWG’s first-quarter 2026 investor meeting, CEO Vu Dang Linh was cited as saying that Bach Hoa Xanh plans to open around 1,000 new stores this year, nearly doubling the pace of its recent expansion.
The planned listing hinges on the retailer maintaining profitability for at least three consecutive years, a key requirement for expediting the IPO timeline. The company operating Bach Hoa Xanh reported its first profitable year in 2025 and expects to remain in the black this year.
Launched by MWG in late 2015 with its first store in Ho Chi Minh City, Bach Hoa Xanh has grown into one of Vietnam’s largest modern grocery chains. As of the end of the first quarter of 2026, the retailer operated 2,839 stores nationwide, including 280 outlets opened during the first three months of the year.
In 2024, CDH Investments completed an investment for a minority interest in grocery chain Bach Hoa Xanh. The deal was valued at 1.8 trillion dong ($72.17 million) and represents 5% of the firm’s charter capital, according to a report by Reuters.
