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.
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.