Becamex and Warburg Pincus as cross-border e-commerce hubs

The project includes many components such as a high-tech factory area, an extension warehouse, a bonded warehouse, a showroom, and an office.

According to the portal of Binh Duong Provincial People’s Committee, Mr. Vo Van Minh, Deputy Secretary of the Provincial Party Committee, Chairman of Binh Duong Provincial People’s Committee, had a meeting with Mr. Charles R. Kaye, Global General Director of Warburg Pincus Group, during September 27th.

In Binh Duong, Warburg Pincus and its joint venture partner Becamex will build a cross-border e-commerce center with a scale of 75 hectares. The project includes many components such as a high-tech factory area, an extension warehouse, a bonded warehouse, a showroom, and an office.

Mr. Charles Kaye wished the province to create all conditions to soon implement the project. This is one of the major strategic projects, aiming to build a supply chain integration ecosystem, creating a highlight to attract investment. Mr. Minh affirmed that the province will create all conditions for Warburg Pincus to successfully deploy the project in Binh Duong.

Becamex and Warburg Pincus have a joint venture, BW Industrial Development Joint Stock Company. Becamex has invested 3,448 billion dong in the joint venture, owning 30% of charter capital, the value of the investment recorded in the first quarter financial statements is 3,304 billion dong.

Warburg Pincus is headquartered in New York with over 200 investment professionals in 10 countries. Vietnam is Warburg Pincus’ third largest investment destination in Asia (after China and India). It is a company that manages over $80 billion in assets and focuses on investing in growing companies.

Warburg Pincus started investing in Southeast Asia in 2013. In Vietnam, before partnering with Becamex, Warburg Pincus invested in Vincom Retail, Techcombank and cooperated with Vinacapital.

On September 28, Mr. Charles also had a meeting with Prime Minister Pham Minh Chinh. At the meeting, Mr. Charles Kaye affirmed that Vietnam is one of the 5 most important investment locations of Warburg Pincus. He affirmed his long-term investment commitment and desire to increase investment in Vietnam, especially in the development of renewable energy in industrial parks.

According to Tien Lua/Partner