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KBC and its subsidiaries signed Memorandums of Understanding on business cooperation with US partners with a total investment capital of more than Usd 8 billion

At the events of trade promotion and investment attraction, business meetings between the two countries Vietnam - the United States, as part of the business trip of Prime Minister Pham Minh Chinh and the Vietnamese delegation to visit and work in the United States on the occasion of the Prime Minister's attendance at the ASEAN-US Special Summit (from May 11th to May 17th, 2022), Kinh Bac City Development Holding Corporation - JSC (KBC) and its subsidiaries conducted the signing and exchanging of Memorandums of Understanding (MoUs) on investment cooperation with big US partners with the total investment attraction value expected to be more than USD 8 billion.

The signing activities took place at two locations, New York City (May 16th, 2022) and San Francisco City (May 17th, 2022) and were witnessed by Politburo members, Prime Minister of the Socialist Republic of Vietnam Pham Minh Chinh, leaders of the Government Office, Vietnamese ministries and localities, together with the participation of  some big US businesses and partners.

Specifically, on the afternoon of May 16th, 2022 (local time), during the visiting and working session of Prime Minister Pham Minh Chinh at the New York Stock Exchange (NYSE) -  the world's largest stock exchange and attended a round-table conference with CEOs of some leading corporations and investment funds listed on the NYSE , Saigon - Hai Phong Industrial Park Joint Stock Company (SHP), a subsidiary of KBC, investor of Trang Due Industrial Park (1,078ha) in Dinh Vu - Cat Hai Economic Zone, Hai Phong city – together with Hayward Quartz Technology, Inc. signed and exchanged a MoU on collaboration in developing high-tech factory project producing semiconductors, aluminum oxide, mono and polycrystalline silicon, sapphire, etc. at Kim Thanh Industrial Park, Hai Duong province with total estimated investment capital of USD 1.3 billion. This is one of four important projects selected to be exchanged MoU at the NYSE under the witness of the Prime Minister and representatives of partners in the fields of finance, banking, and investment funds between Vietnam and the United States.

SHP and Hayward Quartz Technology, Inc exchanged MoU on developing high-technology factory project in Hai Duong province with a total expected investment capital of USD 1.3 billion at NYSE – New York on  May 16th, 2022

On the afternoon of May 17th, 2022 (local time), at  Vietnam - US Trade, Investment and Tourism Promotion Conference held in San Francisco, KBC signed and exchanged the MoU with two American partners: Sapphire Bay Group and Hyatt Hotel Resort and Casino on building an entertainment center project; a performance center; a 1000-room 5-star hotel; an international convention center; the luxury housing, marina and resort on the 200-hectare coastal land in Trang Cat urban area and Cat Ba Island (Hai Phong province) with an investment capital of about USD 5 billion. Sapphire Bay Group and Hyatt Hotel Resort and Casino are large US corporations in real estate, entertainment areas, luxury hotels, marinas,etc. Shappire Bay and Hyatt Hotel Resort and Casino have invested billions of USD on building and managing many complexes which are currently being operated very efficiently and successfully in the United States and around the world. Each complex has an entertainment area, a performance center, a luxury hotel, an International Convention Center, a comfortable luxury housing area, a marina; some areas even have casinos as well. This project is expected to increase the amount of FDI from the US into Vietnam, which promotes to create stable jobs with high incomes for employees and effectively contributes to the State budget, to the goal of ensuring economic security, environmental protection and sustainable development.

Also at this conference, Hung Yen Investment and Development Corporation , a subsidiary of KBC, signed and exchanged a MoU with the Jointname ACI Capital and IDG Capital of the US on researching, surveying and developing 500-ha hi-tech Park projects specializing in the production of electronic components, aircraft parts and the technology for developing equipment for superyachts in industrial parks of Hung Yen Investment and Development Corporation in Hung Yen province, with a total estimated investment capital of USD 2 billion. IDG Capital is a big American investment fund professionalizing in investment management, financial services, private equity, and mergers & acquisitions. IDG is currently managing more than 900 investment projects worldwide with a capital scale of over USD 20 billion. Currently, IDG is looking for partners to develop projects in the field of financial investment and development of high-tech industrial parks in Vietnam. In terms of ACI Capital, this is a fund specializing in investment management and financial services globally, and currently looking for partners to develop technical and high-tech projects in Vietnam.

On May 17th, 2022 in San Francisco, Hung Yen Investment and Development Corporation and Jointname ACI Capital and IDG Capital exchanged the MOU for the development of a hi-tech industrial park project in Hung Yen, with an estimated scale of USD 2 billion

The relationship between Vietnam and the United States after 20 years of establishing diplomatic relation has made a great improvement on the basis of mutual benefits; respecting each other's independence, sovereignty, territorial integrity and political institutions. In Vietnam’s perspective, the United States is one of the most important partners. Vietnam and the United States established a Comprehensive Partnership in 2013. The United States has repeatedly affirmed its support for an independent and prosperous Vietnam, wished to elevate the relationship with Vietnam to a new level.

Bilateral trade turnover has increased rapidly and stably, reaching more than USD 111 billion in 2021, which was an increase of nearly USD 21 billion compared to 2020. The United States is also a big investor in Vietnam, with 1,135 projects with total capital registered of more than USD 10 billion, ranking 11/141 among countries and territories funding FDI in Vietnam.

Over the past time, large US enterprises have continued to pay attention to and invest in the Vietnamese market: Intel announced an additional investment of nearly USD 500 million in its factory in Ho Chi Minh City; Foxconn - Apple's main manufacturing partner, additionally invests USD 270 million in Bac Giang; etc. The US also expressed its willingness to promote cooperation in some fields such as infrastructure development, supply chain, energy, digital economy, etc.



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