Friday, April 25, 2008
BankInvest partners with Hoa Phat Group

Denmark ’s BankInvest will become a strategic partner of Viet Nam ’s Hoa Phat Group when it purchases a 5.2% of stake of the local company.

Under an agreement signed in Hanoi on April 25, BankInvest’s capital will support Hoa Phat’s investment plans in steel production, industrial zones extension and civil engineering.

BankInvest will also use its business administration and management experience to help build Hoa Phat’s future strategic plans.

Hoa Phat will continue focusing on industrial production, especially steel, industrial zones, cement and minerals with an expected annual growth rate of turnover and profit from 20 to 25%.