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Fri 25 May 2018 09:44 AM

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UAE, Vietnamese firms agree to set up investment JV

Relam Investment Company will focus on real estate, energy, oil & gas, trading, healthcare, technology, F&B, retail and agriculture

UAE, Vietnamese firms agree to set up investment JV

UAE-based Vault Investment and Vietnamese MIG Holding have announced a new joint venture to form Relam Investment Company which will focus on investments across real estate, energy, oil & gas, trading, healthcare, technology, F&B, retail and agriculture.

Sultan Ali Lootah has been appointed as chairman and general manager of the new Dubai-based company, while Nguyen Doi Fong from MIG Holding will be the company’s vice chairman, a statement said.

“The partnership between our two companies brings together proven expertise in real estate, financial, technical and commercial investments in East Asian and European countries and is a major milestone in expanding our operations to other international markets” said Lootah.

“During its first few years, Relam Investment will focus its operations in the UAE, Vietnam, GCC countries, United Kingdom, Turkey, South East Asia, India and Egypt, before expanding to other countries and regions around the world,” added Lootah.

Lootah also announced three new technological investment projects.

The first will serve the real estate sector through the crowdfunding platform, the second will support the services sector and a third is an integrated logistics project that supports trade, import and export activities globally.

Relam Investment said it has also allocated an investment portfolio of $50 million to fund small technical projects and another $200 million into the real estate sector.

Phong said: “We selected Dubai to be our main hub because of its global reputation and its unprecedented services and facilities to investors.”

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