Warburg Pincus-invested IP developer BW builds 10th project in Vietnam for 2024
BW Industrial Development JSC, a joint venture between American private equity giant Warburg Pincus and Vietnamese leading industrial developer Becamex, has kicked off the construction of BW Tan Hiep Logistics Park in Dong Nai province.
The project in southern Vietnam is the 10th logistics project of BW in Vietnam this year, per its plan of kicking off 12 new project this year. The 64-hectare project will cover 9.5 hectares in the first phase.
BW Industrial Development holds a groundbreaking ceremony in Dong Nai province, southern Vietnam, October 18, 2024. Photo courtesy of the government's news portal.
In a Monday statement, BW said the project is the only one within five kilometers of the under-construction Long Thanh international airport, so far the biggest airport project in Vietnam.
The BW project is slated for completion by end-2025, prior to the first commercial flight of Long Thanh airport scheduled in September 2026.
BW is a leading industrial park and logistics service provider in Vietnam with a portfolio of 1,000 hectares in 12 localities of Vietnam. Warburg Pincus has been investing in BW since 2018.
In September, during Vietnamese Party chief and State President To Lam's working trip in the United States, he had a meeting with Jake Siewert, Warburg Pincus head of global public policy and political risk. The American side affirmed the firm has so far invested over $4 billion in Vietnam, the third-biggest figure in Asia, only behind China and India.
Warburg Pincus aims to invest more in Vietnam in green finance, renewable energy, implementation of Vietnam's power development plan VIII (PDP VIII), he added.
- Related News
- Read More
Vietnam private lender VietABank has 8 major shareholders owning 30% stake
Vietnam’s private lender VietABank has eight major shareholders – four institutions and four individuals – owning over 1% of its charter capital each, accounting for almost 30% in total.
Banking - Mon, October 21, 2024 | 3:47 pm GMT+7
Vietnam’s first minibus brand Kim Long X9 launched
Vietnam’s first indigenously produced minibus rolled off the production line Saturday, with executives of Kim Long Motor Hue JSC hailing it as a local auto industry milestone.
Companies - Mon, October 21, 2024 | 3:22 pm GMT+7
Vietnam construction giant Coteccons not to allow bad debt hike this year
With bad debts among its debtors doubling to VND2.24 trillion ($88.84 million) in the past three years, Vietnamese construction giant Coteccons says it will not allow either bad debt or provisions thereof to increase this fiscal year.
Companies - Mon, October 21, 2024 | 3:09 pm GMT+7
Central Vietnam province okays 210 hectares for $2.2-bln LNG power project
Vietnam's central province of Nghe An has approved an allocation of 210 hectares for the Quynh Lap LNG-fired power plant project with an investment of $2.15 billion.
Energy - Mon, October 21, 2024 | 11:30 am GMT+7
Japan retailer Aeon to build $35 mln mall in northern Vietnam
Japanese retailer Aeon will invest $35 million in building a mall in Phu Ly town, Vietnam’s northern province of Ha Nam.
Industries - Mon, October 21, 2024 | 10:59 am GMT+7
Major Vietnam rice stocks in distress despite rosy export outlook
Stocks of several major Vietnamese rice exporters, once prominent on exchanges, have dropped significantly as they grapple with financial distress.
Companies - Mon, October 21, 2024 | 8:33 am GMT+7
Vingroup subsidiary's 9-month profit surpasses year's target
Vietnam Exhibition Fair Centre JSC, a subsidiary of conglomerate Vingroup, posted an after-tax profit of VND264 billion ($10.49 million) in the first nine months of 2024, exceeding the year's target of VND250 billion, despite a year-on-year decrease of 23%.
Companies - Mon, October 21, 2024 | 8:10 am GMT+7
LPBank’s Q3 net profit more than doubles on service growth
Hanoi-based Loc Phat Vietnam Joint Stock Commercial Bank, or LPBank, reported a net profit of VND2.33 trillion ($93 million) in the third quarter of this year, 2.3 times that of the same period in 2023.
Banking - Sun, October 20, 2024 | 7:06 pm GMT+7
Foreign-invested companies in northern Vietnam province see Jan-Sep revenue surge 12% to $7 bln
Foreign-invested enterprises (FIEs) in Hai Duong province posted estimated revenues of $7 billion in the first nine months of 2024, up 12% year-on-year.
Companies - Sun, October 20, 2024 | 3:00 pm GMT+7
Vietnam urged to reform economic structure, promote digitalization for higher competitiveness
Vietnam needs to reform its economic structure, promote digitalization, and improve the quality of human resources so as to enhance competitiveness and raise average income levels, said Prof. Peter Morgan, a senior consultant at the Tokyo-based Asian Development Bank Institute (ADBI).
Economy - Sun, October 20, 2024 | 1:00 pm GMT+7
Italian cruise ship returns to Ha Long with over 3,000 Hong Kong tourists
Costa Serena, the five-star Italian-flagged cruise ship, has arrived in Vietnam’s northern province of Quang Ninh, bringing 3,040 Hong Kong tourists to the home of the UNESCO-listed Ha Long Bay.
Travel - Sun, October 20, 2024 | 11:00 am GMT+7
Foreign investors net sell $84.4 mln worth of Vietnamese shares this week
Foreign investors continuously net sold Vietnamese stocks during the week of October 14-18, with a total value of VND2.125 trillion ($84.44 million).
Finance - Sun, October 20, 2024 | 9:15 am GMT+7
No power shortages in 2025 under any circumstances: Vietnam Prime Minister
Relevant agencies must prepare scenarios for power sources, electricity load and power distribution in order to ensure there are no power shortages in 2025 under any circumstances, says Prime Minister Pham Minh Chinh.
Economy - Sun, October 20, 2024 | 7:45 am GMT+7
Vietnam central bank withdraws cash as dong falls to 3-month low
Vietnam’s central bank has resumed issuance of Treasury bills in an attempt to regulate liquidity as the Vietnamese dong has weakened to a two-month-and-a-half low.
Banking - Sat, October 19, 2024 | 8:00 pm GMT+7
Vietnam-Northern Territory trade-investment ties yet to tap full potential: minister
Trade and investment ties between Australia’s Northern Territory and Vietnam have not matched existing potential, says Minister of Planning and Investment Nguyen Chi Dung.
Industries - Sat, October 19, 2024 | 5:37 pm GMT+7
Thai retail giant Central plans more rooftop solar, EVs in Vietnam
Thailand’s Central Group has plans to intensify the use of rooftop solar and electric vehicles (EVs) at its establishments in Vietnam as part of its Net Zero emission strategy.
Energy - Sat, October 19, 2024 | 4:37 pm GMT+7
