Hong Kong-based conglomerate Sunwah Group has announced a new investment of $100 million in Vietnam, through its investment subsidiary Sunwah Vietnam Investment Company (SVIC).
SVIC will be investing in areas that are strategic to Sunwah Group, which include food and beverage (F&B), real estate, e-commerce, media, education, healthcare, and green technology.
In most cases, SVIC prefers opportunities in the expansion stage, where the company or project is seeking strategic capital to further grow their business.
Sunwah Kingsway and Saigon Asset Management (SAM
) have also set up a joint venture named Sunwah Kingsway Vietnam (SKV) to provide investment solutions for inbound and outbound enterprises in Vietnam. Sunwah Kingsway will own 60% of SKV and SAM the remaining 40%.
SKV represents SVIC in managing equity of $100 million in Vietnam.
SKV is to address the needs of many high growth Vietnamese companies seeking strategic capital as well as IPO in the Hong Kong and overseas market, said Luis Nguyen, CEO of SKV and SAM.
“We have invested in excess of $1 billion here in Vietnam and have seen positive developments over our 45 years of operations in this rapidly growing country,” said Johnson Choi, CEO of Sunwah Kingsway.
“With the latest changes in government leadership and policies, plus seeing a rising tide of investment opportunities, adding this new $100 million validates our long term commitment to Vietnam,” Choi added.
Sunwah Group has invested in the My Chau pharmacy chain, the high-end Sunwah office building in the heart of Ho Chi Minh City
as well as other properties.
Sunwah is also one of the largest coffee exporters in Vietnam. It operates one large microbial fertilizer factory in the Southeast Asian country.