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G MEKONG CAPITAL KICKS OFF MEF IV H ward to expanding our cooperation with TOJI G INVESTMENT MADE IN VINMEC PARENT H
in their future projects as well as helping devel- A consortium led by Singaporean investment
opers leap project execution progress and drive firm GIC has acquired a stake in the VMC
Vietnam’s green growth path.” Holding Business Investment JSC (VMC), the
parent company of Vingroup’s hospital chain
Vinmec, for VND4.7 trillion ($203 million).
G MARCH OPENING FOR FIRST WINKS HOTEL H
According to a statement from Vingroup, the
investment will be used to expand Vinmec’s
medical network and pursue breakthroughs
Mekong Capital announced the final closing in excellence of care and patient treatment.
of its fifth fund - the Mekong Enterprise Vingroup will remain the sole controlling
Fund IV Limited Partnership (MEF IV) - at shareholder of VMC and GIC will receive a
$246 million on January 4, more than double share of income from VMC proportionate to
its predecessor, MEF III. MEF IV will continue its equity interest, while Vingroup will continue
Mekong Capital’s successful strategy of invest- to re-invest all income into the business, in
ing in growth-equity investments in Viet- Wink Hotels - conceived by developer Indochina line with the group’s commitment that invest-
namese companies and exclusively in con- Kajima and operated by Indochina Vanguard ment in healthcare will remain non-profit.
sumer-driven sectors that benefit from growth - has set a March opening date for its first The statement also noted that Vinmec aims
in Vietnam’s consumer demand and adoption Vietnam hotel, in Ho Chi Minh City. Designed to cooperate with GIC to continue to pursue
of modern business practices. It will focus by leading French architects AW3, Wink is operational excellence and leverage GIC’s
on retail, education, restaurants, consumer differentiated by its contemporary creative extensive expertise and investments in the
services, fast-moving consumer goods design, which is simple yet still strikingly healthcare sector globally. The investment
(FMCG), and healthcare, invest $35-50 million reflective of Vietnamese cultural values. Wink’s emphasizes the attractiveness of Vinmec’s
in minority investments or controlling invest- pillars include genuine and casual customer comprehensive suite of service offerings and
ments, operate for ten years, and make an service and a stellar guest experience. It also its leadership in the development of quality
expected 12 investments. “Vietnam’s middle brings Vietnamese street food to its signature private healthcare.
class continues to emerge as the driving force Wink Cart and has a guide team that helps
of the economy and provides a robust base guests explore nearby happenings and hotspots.
for the country’s ongoing growth,” said Mr. Its new flexible concept, the STAY24 program,
Chris Freund, Founding Partner of Mekong allows guests to have a full 24-hour guest
Capital. “Meanwhile, a new model of private experience regardless of the time they check-
equity has been emerging in Vietnam, a model in, which can be done by accessing an electronic
based on transformation and human experi- key via the Wink app. Wink Hotels has
ence. We look forward to Vietnam emerging announced a pipeline of 20 hotels within the
as the world capital of transformation.” next five years, including Wink Hotel Hanoi
West Lake, which is expected to open in 2023.
G ABB PROVIDES EQUIPMENT TO SOLAR COMPLEX H G GPAY PICKS UP SERIES A INVESTMENT H
G TOYOTA CONTINUES TRAFFIC SAFETY PROGRAM H
Toyota Motor Vietnam (TMV) in cooperation
with the Ministry of Education and Training
(MoET) and with support from the National
Traffic Safety Committee (NTSC), organized
the Toyota Traffic Safety Education Program
(TSEP) during the 2020-2021 school year. The
program will continue this year, with two
ABB last month announced it will supply Sec- activities: provincial exchanges to educate pri-
ondary Skid Units (SSUs) to the Gia Hoet and mary school students and teachers on traffic The G-Payment Joint Stock Company (Gpay),
Tam Bo floating solar complexes, the largest safety awareness, and a national exchange. In a member of the G-Group Technology Cor-
such complexes in the region. Located in the provincial program, Binh Phuoc will be poration, has announced a Series A investment
Quang Thanh commune in Chau Duc district, first, followed by Tuyen Quang, Ninh Binh, round from the KB Financial Group of VND425
southern Ba Ria-Vung Tau province, the Gia Ha Tinh, Binh Thuan, and Ha Giang. “We billion ($18.4 million), through KB Securities,
Hoet 1 and Tam Bo solar plants have areas of hope everyone will remember these traffic its representative in Vietnam. The investment
40 and 41 ha of water surface, respectively. safety skills and tell their parents, relatives, will be used to increase user numbers based
Invested and implemented by the TOJI Group and friends,” a TMV representative said. Fol- on the existing ecosystem, develop strategic
JSC and with a total capacity of 70 MWp, these lowing the provincial program, the national technology solutions, and invest in people to
are the largest floating solar power complexes exchange will be held in March in northern provide convenience, security, and happiness
in Southeast Asia. The order of ten ABB SSUs Thanh Hoa province, with the participation by offering platforms in financial services on
was placed to support the start of commercial of eight teams representing eight cities and mobile devices. “Along with the additional
operations in December and ensure the project provinces selected at provincial exchanges. resources and in-depth experience in the
met the deadline contained in Vietnam’s 2020 financial sector of our investor, the KB Financial
solar Feed-in-Tariff scheme. “ABB and TOJI Group, we strongly believe this move will
have a solid track record in cooperating in bring a lot of opportunities for local people to
solar power in Vietnam,” said Mr. Hien Doan access financial services on tech platforms,
Van, Sales Director of Electrification at ABB contributing in part to building financial digital
Vietnam. “We are proud to be a partner of platforms and boosting cashless payments”
TOJI and help our customer finish the project said Mr. Nguyen Thuan Chat, Co-Founder
faster and in an efficient manner. We look for- and CEO of Gpay.

48 | VIETNAM ECONOMIC TIMES | FEBRUARY 2021