Private US firm Warburg Pincus is forming a joint venture with a state-run Vietnamese company to provide logistics services in the country's key economic and industrial zones.Warburg Pincus and Vietnam’s Investment & Industrial Development Corp., also known as Becamex IDC, will pour more than $200 million into the joint venture, Warburg Pincus said in a statement sent to Bloomberg on February 12.The venture, BW Industrial Development JSC, will develop and operate modern warehouses and factories in Vietnam, Jeffrey Perlman, head of Southeast Asia at Warburg Pincus, was quoted by Bloomberg as saying.“With the transformative shift of the manufacturing base from markets like China to Vietnam as well as with the rapid rise of domestic consumption, the logistics and industrial real estate market in Vietnam is in the ‘early innings’ and at an inflection point for outsized growth,” Perlman said in the statement.The Asian Development Bank … [Read more...] about US company forms $200mln logistics joint-venture with local firm
Singapore venture capital and private equity association
US company forms $200mln logistics joint-venture with state-owned Vietnamese firm
Private U.S. firm Warburg Pincus is forming a joint venture with a state-run Vietnamese company to provide logistics services in the country's key economic and industrial zones. Warburg Pincus and Vietnam’s Investment & Industrial Development Corp., also known as Becamex IDC, will pour more than $200 million into the joint venture, Warburg Pincus said in a statement sent to Bloomberg on Monday. The venture, BW Industrial Development JSC, will develop and operate modern warehouses and factories in Vietnam, Jeffrey Perlman, head of Southeast Asia at Warburg Pincus, was quoted by Bloomberg as saying. “With the transformative shift of the manufacturing base from markets like China to Vietnam as well as with the rapid rise of domestic consumption, the logistics and industrial real estate market in Vietnam is in the ‘early innings’ and at an inflection point for outsized growth,” Perlman said in the statement. The Asian Development Bank forecasts … [Read more...] about US company forms $200mln logistics joint-venture with state-owned Vietnamese firm
BUSINESS IN BRIEF 22/9
Japanese company to develop solar electricity in Binh Phuoc Covering 50ha in Tan Hoa commune, the plant has a capacity of between 75 and 100MW. Nguyen Van Loi, General Secretary of the provincial Party Committee, said the province welcomes the project and pledges to create all possible conditions for the investor to implement the project. Vietnam has enormous solar potential, especially in its central and southern parts. It has average solar irradiation of 4-5 kWh/squ.m/day, which is comparable to Thailand and the Philippines, which are more developed solar markets in the region, as well as to mature international markets like Spain and Italy. The Vietnamese Government has recognised this potential and aims to significantly increase renewable energy production including solar power. Under its newly revised Power Development Plan for until 2030, which includes ambitious development targets for renewables in general and solar energy in particular, the capacity of solar … [Read more...] about BUSINESS IN BRIEF 22/9
BUSINESS IN BRIEF 15/7
Da Nang seeks investment from Singapore The central city promises to create smooth conditions and top priorities for Singapore's investors in the fields of high-tech, information technology, renewable energy and high quality education. Vice Chairman of the city's people's committee Ho Ky Minh said in a seminar on ‘Investment Opportunities in Da Nang' in Singapore on July 12. Minh said the city will make a strong commitment in building available infrastructure, administrative reforms, preferential treatment and skilled labour, for wooing investors from Singapore. He said the city will boost transparency and publicity in offering preferential favours, labour cost and investment fee for investors. Ricky Tan, CEO of Kinderworld Education Group, said Da Nang is a potential destination for foreign investors in Viet Nam, and the group expected to expand investment in Da Nang in the coming year. The group, the biggest Singaporean investor in the education and training sector in Viet … [Read more...] about BUSINESS IN BRIEF 15/7
BUSINESS IN BRIEF 30/3
Vietnam Airlines marks new step in Russian market The first flight using Boeing 787-9 Dreamliner aircraft of national flag carrier Vietnam Airlines arrived at Domodedovo airport in Moscow, Russia, on March 27 (local time). Speaking at the welcome ceremony, Chief Representative of Vietnam Airlines in Russia Le Thanh Dung said the airline is striving to meet demand of passengers in Russia, adding that the airlines will operate new routes linking Vietnam and Russia in the future. Meanwhile, Vietnamese Ambassador to Russia Ngo Duc Manh congratulated Vietnam Airlines on using Boeing 787-9 Dreamliner for the Hanoi-Moscow air route, contributing to the enhancement of the partnership between Vietnam and Russia, especially in tourism and people-to-people exchanges. Boeing 787-9 Dreamliner can carry up to 311 passengers and saves 20 percent of fuel compared to previous generations of aircraft. Vietnam Airlines was recognised as a 4-star airline for two consecutive years in 2016 and 2017 by the … [Read more...] about BUSINESS IN BRIEF 30/3