London-based Actis exits Vietnam project after ‘successful’ $20 mln investment
London headquartered Actis has exited the An Phat 1 Industrial Park in Hai Duong province after selling its 49% stake in the facility to An Phat Holdings, its operating partner.
An Phat Holdings, listed on the Ho Chi Minh Stock Exchange (HoSE) as APH, signed a $20-million investment agreement with Actis for the An Phat 1 Industrial Park in July 2021.
An Phat 1 Industrial Park in Hai Duong province, northern Vietnam. Photo courtesy of An Phat Holdings.
Actis said in a Monday release that construction of the 180-hectare industrial park in the northern province of Hai Duong was completed ahead of time without any compromise on cost or quality.
“Vietnam is a strategic market for us as it offers great opportunities for cost-effective manufacturing and supply-chain diversification. Our investment in An Phat 1 Industrial Park was consistent with our strategy to invest in new economy real estate,” said Brian Chinappi, partner and head of real estate at Actis.
He did not provide details about the company’s further plans in Vietnam.
“The partnership with Actis has resulted in greater success than anticipated in the An Phat 1 project,” said Duong Pham, chairman of An Phat Holdings.
Actis said the development of international standard and sustainable industrial parks like the An Phat 1, will significantly enhance the competitiveness of Vietnam as an attractive destination for multinational corporations.
It noted that the park has already attracted two of Apple’s global suppliers with projects expected to create around 25,000 jobs.
- Related News
- Read More
ASEAN Future Forum 2024 looks to ensure comprehensive security for community
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
Southeast Asia - Wed, April 24, 2024 | 10:19 pm GMT+7
Rail connects Vientiane, China's Guizhou province
The Guiyang-Laos tourist train will be launched on May 8, signifying a pivotal step in boosting tourism and cultural ties between China and Southeast Asia.
Southeast Asia - Wed, April 24, 2024 | 10:18 pm GMT+7
Vinhomes targets after-tax profit of $1.38 bln in 2024 as market warms up
Vinhomes, a major housing developer under private conglomerate Vingroup, targets to earn an after-tax profit of VND35 trillion ($1.38 billion) this year, up 4.4% year-on-year, given more positive signals from the local real estate market.
Companies - Wed, April 24, 2024 | 10:13 pm GMT+7
Vinh Phuc province officials disciplined for investment project violations
Dozens of officials in Vinh Phuc province have faced disciplinary actions by the Central Inspection Committee for violations related to investment projects.
Politics - Wed, April 24, 2024 | 8:19 pm GMT+7
Former chairmen of An Giang, Soc Trang provinces face disciplinary action
Former chairman of An Giang province Vuong Binh Thanh received a warning from the Central Inspection Committee for his violations, while former chairman of Soc Trang province Tran Van Chuyen was reprimanded.
Politics - Wed, April 24, 2024 | 7:05 pm GMT+7
Mitsubishi taps Vietnam market with $1.8 mln investment in food importer Homefarm
Mitsubishi Shokunin, the food arm of Japanese keiretsu Mitsubishi, has invested VND45 billion ($1.8 million) in Homefarm, a Vietnamese food import start-up, the firm said.
Companies - Wed, April 24, 2024 | 4:45 pm GMT+7
No Vinhomes funding for VinFast: CEO
Vinhomes CEO Nguyen Thu Hang says the residential property development arm of Vietnam’s private conglomerate Vingroup has not provided financing for other companies in the group’s ecosystem, including EV-maker VinFast.
Companies - Wed, April 24, 2024 | 4:37 pm GMT+7
Japan's Vsun Solar begins commercial operations of 4GW silicon wafer plant in Vietnam
Tokyo-headquartered Vsun Solar has commenced commercial production at its 4-gigawatt silicon wafer plant in Vietnam.
Industries - Wed, April 24, 2024 | 3:39 pm GMT+7
Thailand’s Super Energy told to complete paperwork first, construct wind power project later
Super Wind Energy Congly Bac Lieu JSC, under Thailand’s renewable energy developer Super Energy, is looking to restart its 141-MW Bac Lieu wind power plant phase III in Vietnam’s Mekong Delta province of Bac Lieu.
Energy - Wed, April 24, 2024 | 3:32 pm GMT+7
Standard Chartered revises down Vietnam GDP growth forecast to 6%
Standard Chartered Bank has lowered Vietnam's 2024 GDP growth forecast to 6% from 6.7% in January due to lower-than-expected Q1 growth and global trade headwinds.
Economy - Wed, April 24, 2024 | 3:03 pm GMT+7
TPBank targets after-tax profit of $295 mln in 2024
Private Vietnamese lender TPBank targets to earn VND7.5 trillion ($294.75 million) in after-tax profit this year, according to CEO Nguyen Hung.
Banking - Wed, April 24, 2024 | 1:09 pm GMT+7
Sumitomo Mitsui-invested VPBank plans to merge with ailing lender
Hanoi-based VPBank, the biggest private lender by charter capital in Vietnam, will ask for shareholders’ approval to proceed with a plan to acquire a weak bank following a request by the State Bank of Vietnam (SBV).
Banking - Wed, April 24, 2024 | 11:18 am GMT+7
Man arrested after 7 workers die in cement crusher accident
Tran Manh Hung, 44, has been accused of violating labor safety regulations in an accident that killed seven people and injured three others at a Yen Bai province-based cement factory in northern Vietnam.
Society - Wed, April 24, 2024 | 10:12 am GMT+7
Jewelry mogul Doji expands investment portfolio beyond gold
Doji Gold & Gems Group JSC, Vietnam’s leading jewelry maker, has expanded its investment portfolio, ranging from its pillar arm of gold and silver to finance, banking, and real estate.
Companies - Wed, April 24, 2024 | 9:42 am GMT+7
Increased US imports propels Vietnam wood industry growth
Export of wood and wood products reached $3.5 billion in the first three months of 2024, dominated by the U.S. with $1.9 billion, up more than 36.4% year-on-year.
Economy - Wed, April 24, 2024 | 8:09 am GMT+7
Vincom Retail to retain name, new shareholders to boost company growth: AGM
Vincom Retail leaders said Tuesday that the company does not intend to change its name for now and that it will benefit from the extensive operating experience of new shareholders.
Companies - Tue, April 23, 2024 | 10:40 pm GMT+7
