Industrial park developer BW secures $44 mln loan from Thailand’s Kasikornbank
BW Industrial Development JSC, a leading logistics and industrial real estate developer in Vietnam, and Thailand’s major lender Kasikornbank have entered a VND1.12 trillion ($44 million) strategic financial partnership.
Under the partnership, Kasikornbank will provide the mentioned money to BW Industrial, aiming to enhance Vietnam’s industrial and logistics sectors to accommodate rapid growth of logistics platforms and industrial estates in the country, the bank said in a Thursday statement.
BW Industrial and Kasikornbank sign a strategic financial partnership in Ho Chi Minh City on May 15, 2024. Photo courtesy of BW Industrial.
Meanwhile, BW Industrial, founded by leading global growth investor Warburg Pincus and Vietnam’s leading infrastructure developer Becamex IDC, said the move is a collaborative effort to capitalize on Vietnam's burgeoning logistics and industrial estate platform. The cooperation can fuel Vietnam’s industrial growth, it added.
As of end 2023, Vietnam hosted 414 industrial parks, covering 128,126 hectares, according to the Ministry of Planning and Investment. Among those, 293 are operational with a total area of 89,171 hectares, while the rest of 35,517 hectares are under construction. The occupancy rate was 74%, or 46,551 hectares were occupied.
Also according to the ministry, as of end-2022, those industrial parks attracted over 21,600 projects with total registered capital of $337 billion, including 11,200 foreign ones with the total registered capital of $231 billion.
Vietnam's index of industrial production (IIP) remained on an upward trend, rising 6.3% year-on-year in April and 6% in January-April this year.
- Related News
- Read More
Vietnam’s first LNG-fired power plants to enter commercial operation in Jun-Sept 2025
Nhon Trach 3 and Nhon Trach 4, Vietnam’s first LNG-to-power plants, will begin commercial operations in June and September 2025, respectively, says project investor PV Power.
Energy - Sat, November 16, 2024 | 3:20 pm GMT+7
Vinhomes spends $276 mln on buying back 162 mln shares, more than half to go
Vinhomes, the largest housing developer in Vietnam, has spent around VND7 trillion ($275.7 million) on implementing its record buyback plan since kick-starting it on October 23.
Finance - Sat, November 16, 2024 | 1:21 pm GMT+7
Indonesia secures funding for green power infrastructure at COP29
Indonesia has attracted EUR1.2 billion ($1.26 billion) worth of green funding for the electricity sector from Germany’s Kreditanstalt für Wiederaufbau (KfW) at the 29th UN Climate Change Conference of the Parties (COP29) in Baku, Azerbaijan.
Southeast Asia - Sat, November 16, 2024 | 10:10 am GMT+7
Hanoi-based fledgling firm spends $12.3 mln on buying 17.2 mln shares of lender VIB
Hanoi-based Quang Kim Development and Investment JSC acquired 17.2 million shares of Vietnam International Commercial Joint Stock Bank (HoSE: VIB) on Monday.
Banking - Sat, November 16, 2024 | 9:47 am GMT+7
Vietnam can utilize Trump’s policies to enhance position in global supply chains: experts
Vietnam can take the advantage of protectionist economic policies by Donald Trump, the 47th president of the U.S., to strengthen its position in global supply chains, attract foreign investment, and drive sustainable economic growth, write Dr. Tran Ngoc Mai and Prof. Dr. Doan Ngoc Thang, lecturers at the Banking Academy of Vietnam.
Top News - Sat, November 16, 2024 | 9:30 am GMT+7
GenAI set to increase Thai GDP by 6% by 2030
Generative artificial intelligence (GenAI) is projected to raise Thailand's GDP by 6% by 2030, with hefty contributions from the trade and manufacturing sectors, according to a joint online survey by SCB X and SCB Economic Intelligence Centre (SCB EIC) of the country.
Southeast Asia - Sat, November 16, 2024 | 9:00 am GMT+7
Thailand prepares for nuclear energy
Thailand’s Energy Regulatory Commission (ERC) will start looking into the legal aspects of a small modular reactor project this month to prepare Thailand for using nuclear energy.
Southeast Asia - Sat, November 16, 2024 | 8:30 am GMT+7
Data is money, big money: Vietnam tech giant FPT
Vietnamese tech giant FPT Corporation views data as a new resource and is determined to convert it into money and an artery of the economy, says its general director Nguyen Van Khoa.
Companies - Sat, November 16, 2024 | 7:18 am GMT+7
US to support Indonesia in developing small modular nuclear reactors
The U.S. has pledged to assist Indonesia in accelerating the development of small modular nuclear reactors (SMRs), according to Indonesia's Presidential Office.
Southeast Asia - Sat, November 16, 2024 | 12:13 am GMT+7
Singapore's venture capital market grows increasingly attractive
Despite a slump in funding, Singapore’s venture capital market remained active in the first nine months, The Straits Times reported.
Southeast Asia - Sat, November 16, 2024 | 12:08 am GMT+7
VinFast CEO-owned firm secures extra deal to lease EVs to ride-hailing firm
A taxi service provider based in Vietnam’s central province of Binh Dinh will lease 1,000 VinFast electric cars from an electric vehicle (EV) leasing firm that is 90% owned by billionaire Pham Nhat Vuong, the CEO of the Vietnamese carmaker.
Companies - Fri, November 15, 2024 | 8:35 pm GMT+7
Chinese, Vietnamese firms plan $2 bln renewable energy-hydrogen project
3TI Progetti Asia, a local planning-design business, and two Chinese firms plan to invest $2 billion in a hydrogen production project using renewable energy in Vietnam's south-central province of Ninh Thuan.
Energy - Fri, November 15, 2024 | 7:35 pm GMT+7
US Treasury retains Vietnam on ‘monitoring list’ for currency management
Vietnam, a major trading partner, remains on the U.S. Treasury Department’s “monitoring list,” the department has affirmed in its November 2024 report to the Congress.
Economy - Fri, November 15, 2024 | 4:48 pm GMT+7
Vietnam developer Becamex IDC plans to auction 300 mln shares
Becamex IDC Corp, a leading eco-industrial and urban real estate developer in Vietnam, plans to auction 300 million shares with a minimum starting price of VND50,000 ($1.97) apiece on the Ho Chi Minh Stock Exchange (HoSE).
Companies - Fri, November 15, 2024 | 4:43 pm GMT+7
Vietnam shares end in red as US dollar climbs to new high
The U.S. dollar has strengthened against the Vietnamese dong to reach a fresh high on Friday, hampering investor sentiment on the stock market.
Finance - Fri, November 15, 2024 | 4:34 pm GMT+7
IFC invests $1.6 bln in Vietnam, focusing on green transition, private sector resilience
IFC, the private sector lending arm under the World Bank Group, has committed to provided loans totaling over $1.6 billion, including more than $750 million in long-term finance, in Vietnam in its fiscal year ending June 30.
Banking - Fri, November 15, 2024 | 3:09 pm GMT+7
