Australia-based Macquarie Capital, one of Australia and the world’s major investors, plans to invest in Vietnam’s clean and renewable energy projects, said the company’s Chairman and CEO John Walker.
Deputy Prime Minister Trinh Dinh Dung (R) and Chairman and CEO of Macquarie Capital John Walker. Source: VGP.
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Walker suggested a transparent and favorable investment environment would ensure Macquarie Capital’s success in Vietnam, and later attract more major Australian investors.
Deputy PM Dung noted that the Vietnam – Australia strategic partnership is growing strongly, especially in trade and investment activities. Cooperation potential between two countries in investment and trade remains huge and that Macquarie shows interest in large scale investment projects in Vietnam would be a big push and motivation for enterprises from Vietnam and Australia.
Vietnam welcomes and creates favorable conditions for global investors, including Macquarie, to invest and do business in the country’s fields of infrastructure development, clean and renewable energy, Dung said.
In 2018, bilateral trade turnover reached US$7.7 billion, up 19.3% year-on-year. Australia currently has 425 projects in Vietnam with registered capital of US$1.84 billion, and is the 19th largest investor in the Southeast Asian country.
As of present, Australia is Vietnam’s largest donor of non-refundable official development assistance (ODA), with AUD92.7 million (US$66.9 million) per year.
Meanwhile, Vietnam also has 47 projects in Australia worth a combined of US$256 million.
Macquarie Capital, an investment arm of multinational independent investment bank and financial services company Macquarie Group, has so far invested US$1.42 billion in off-shore wind power projects in Europe and Asia.
The company plans to set up a representative office in Vietnam in a bid to initiate large-scale renewable energy projects.
Macquarie Bank, one of the group’s subsidiary, is a major shareholder of Vietnam’s entertainment group Yeah1, holding 1.58 million shares or 5.06% stake.
Macquarie Group employs more than 14,000 staff members in 25 countries. It is the world’s largest infrastructure asset manager and Australia’s top ranked merger and acquisition consultant, with more than US$345 billion in assets under management.
