Vietnam’s largest industrial properties supplier debuts
Binh Duong, May 16 (VNA) – The BW Industrial Development JSC, a joint-venture between the US private equity fund Warburg Pincus and Vietnam’s Investment and Industrial Development Corporation (Becamex IDC), made debut in the country's southern province of Binh Duong on May 15. With over 2 million sq.m of industrial land and 200 million USD in initial capital, BW is considered the largest supplier of industrial properties and logistics services in Vietnam, thus meeting demand of multinational corporations and e-commerce companies. BW will support Vietnam’s sustainable development and serve as a strategic investor in the global supply chain. With a mission to offer added value services to other economies, it ensures the supply of the best solutions in real estate, mechanical engineering, electronics, automobile manufacturing, garment, leather and footwear. The company has bought land for eight projects in five localities lying in key economic zones in the north and south, including Binh Duong, Dong Nai, Hai Phong, Hai Duong and Bac Ninh. Warburg Pincus Executive Director in Southeast Asia Jeffrey Perlman said with a 100 million population and diverse sectors, manufacturing industry and domestic consumption have become a priority in Vietnam’s economic growth. Nguyen Van Hung, Becamex IDC General Director, said Becamex commits a 30 percent capital to the partnership in service of the local socio-economic development. Warburg Pincus is a private equity fund that holds assets worth over 44 billion USD and also one of the leading logistics service suppliers. Meanwhile, Becamex IDC is a developer of industrial and urban areas with the largest land base in Vietnam. Throughout its history, Becamex signed contracts with infrastructure developer Tokyu in Tokyo and Semcorp – a member of Singapore’s Temasek via the Vietnam – Singapore Industrial Park projects. It is known as one of the most successful industrial property developers in Vietnam with a capital of more than 10 billion USD currently./.