Origination
Feedstock is contracted from origin suppliers on arm's-length terms, with quality, grade and delivery window agreed before shipment.
VCI Capital and Trade · Singapore & Vietnam
Capital and feedstock for Vietnam's fuel ethanol.
VCI Capital and Trade is a Singapore platform working in one sector: supplying and financing the feedstock behind Vietnam's fuel ethanol, and investing in the capacity that makes it.
1 Jun 2026
Vietnam moved from E5 to E10. Blending 10% ethanol into gasoline is now compulsory across the national fuel network.
Two markets
Capital and trade are arranged from Singapore. Production and fuel supply sit in Vietnam, in Ha Noi and Quang Nam.
One sector
We work only on fuel ethanol and the feedstock behind it, rather than across unrelated industries.
The chain
Grain in at one end.
Grain in at one end.
Fuel out at the other.
Ethanol is a conversion business, and what decides whether it works is control of each handover. VCI's own activity concentrates at the front of the chain — sourcing and financing feedstock — and in the capital that stands behind the plant.
Freight & handling
Cargo moves from origin to the plant gate under documentary trade terms, with ocean freight and inland handling arranged to a fixed schedule.
Storage & custody
Feedstock and finished product are held under independent collateral management, with insurance cover and periodic stock audits.
Conversion
Feedstock is converted into fuel-grade ethanol at the Quang Nam plant, tested against the specification required for domestic blending.
Fuel supply
Ethanol is delivered under contract to national fuel distributors for blending into the domestic gasoline pool.
Structure
A platform, and the chain it serves.
VCI is deliberately narrow: a Singapore investment and trading company, working alongside the Vietnamese businesses that make and sell the ethanol.
VCI Capital and Trade
Singapore
The platform company. It arranges feedstock trade into the Vietnamese ethanol chain, and is the vehicle through which capital is raised and committed to production assets.
Vietnam Biofuels Development JSC
Ha Noi, Vietnam
The Vietnamese operating company in the chain. It holds the commercial relationships with feedstock suppliers and fuel distributors, and plans production against contracted demand.
Ethanol Quang Nam Production Co. Ltd
Quang Nam, Vietnam
The production company. It operates the ethanol plant and carries responsibility for process control, product specification, site safety and environmental compliance.
The ownership and contractual relationships between VCI and the Vietnamese operating companies are set out in our corporate documents and provided to counterparties on request.
Leadership
The people running it.
Fuel-ethanol operating experience, Vietnamese industrial investment, and audit-trained financial control. Titles shown are the roles each person holds at operating-company level.
Tran Hoai Duong
Chairman of the Board
Vietnam Biofuels Development JSC
Vietnam Biofuels Development JSC
Twenty-five years across project engineering, industrial investment and commodity trading in Vietnam and the region. Founded a Vietnamese agricultural trading business in 2005 and chairs an investment company holding interests in several operating businesses. Chairman of Vietnam Biofuels Development since 2022.
BA, International Economic Relations — Institute of International Relations
MBA — National Economics University
MBA — National Economics University
Nguyen Khanh Toan
Deputy General Director
Vietnam Biofuels Development JSC
Vietnam Biofuels Development JSC
Fifteen years with Vietnam National Oil and Gas Group in project management, latterly as head of department, followed by four years selling fuel ethanol and petrochemical products. Joined Vietnam Biofuels Development in 2022, where he leads operations and commercial delivery.
Engineer, Organic Technology — Petrochemical
Hanoi University of Science and Technology
Hanoi University of Science and Technology
Tran Duy Phong
Finance Director
Vietnam Biofuels Development JSC
Vietnam Biofuels Development JSC
An auditor by training, with seven years in external audit and tax advisory at Vietnamese accounting firms, then tax and internal control at Carlsberg Vietnam. Joined Vietnam Biofuels Development in 2022 and is responsible for reporting, tax and financial control.
BEcon, Business Finance — Academy of Finance
Tax service practice certificate — Ministry of Finance
Tax service practice certificate — Ministry of Finance
Why Vietnam, now
Ethanol stopped being optional.
E10
Compulsory nationwide from 1 June 2026
From 1 June 2026, gasoline sold across Vietnam's fuel network must be blended with ten percent ethanol. The step up from E5 turns domestic ethanol from an optional additive into a required input in the national fuel pool.
Meeting a national blending requirement is a supply problem before it is anything else. It needs plants running to specification, and a feedstock chain that can keep them fed through the year rather than in bursts.
That is the reason the group is built the way it is: sourcing, conversion and delivery held together, so a delay in one stage does not become a shortfall at the pump.
Responsibility & governance
How we expect to be judged.
Fuel supply is a licensed, inspected business. We would rather be plain about the standards we hold ourselves to than describe them at length.
Feedstock
Suppliers are contracted on arm's-length commercial terms, with agreed grade and delivery standards, and are expected to meet the same conduct requirements as the rest of the chain.
Plant & environment
The plant operates to Vietnamese environmental and safety requirements, with emissions, effluent and process safety managed as operating conditions rather than reporting exercises.
Governance
Authority, reporting lines and approval limits are set at platform level. Accounts are prepared for audit, and related-party arrangements are documented on arm's-length terms and reviewed on a fixed cycle.
Conduct
We apply anti-bribery, sanctions and know-your-counterparty checks across suppliers, distributors and financing partners, and decline business that does not clear them.
Counterparties, lenders and partners
Detail is shared directly, not published.
Capacity, offtake arrangements, commercial terms and financial information are provided to counterparties on request, under confidentiality and to the extent permitted by our existing agreements. Tell us who you are and what you need, and we will send the right material.
Contact
Where to find us.
General enquiries are answered from the group office. Commercial and supply enquiries are best directed to the Ha Noi team.
Platform / Group
VCI Capital and Trade
Singapore
[email protected]
Commercial
Vietnam Biofuels Development JSC
Ha Noi, Vietnam
[email protected]
Production
Ethanol Quang Nam Production Co. Ltd
Quang Nam, Vietnam
[email protected]