Sunday, September 09, 2007

US firm promises US$1 billion annually for development

US consultancy promises $1bln investment annually in Vietnam

EurOrient Finance Group, a US-based private firm that mobilizes funds for development, plans to secure investments of US$1 billion annually for Vietnam in the near future, its chief announced Friday.

Ron Nechemia, chairman and managing general director, told reporters in Hanoi that the company was holding talks with government agencies to become strategic partners in some key state-run industries including in electricity, telecoms, and oil.

Banking and finance also interested the group, he said.

It planned to find investors for the $7 billion Long Thanh International Airport in Dong Nai province near Ho Chi Minh City and a 100 – 120 MW green [environmentally-friendly] electricity plant in Hanoi.

EurOrient, through its various affiliates and subsidiaries, serves as a financial advisor for international transactions ranging from $10 million to more than $1 billion.

It is currently involved in the structuring and implementation of foreign investment transactions in energy, natural resources, and other basic infrastructure projects worth more than $15 billion.

It also frequently advises governments and leaders in industry and commerce on international trade and investment related issues.

The company’s website says its mission is to mobilize financial, technical, and human resources for the benefit of developing economies seeking economic development and poverty reduction.

It invests in projects and programs that promote social development, build human capacities, and address host government priorities for investments in physical infrastructure that promotes and enhances social development.