The tightened handshake among Mr. Nguyễn Hồng Sơn, VOI’s CEO and Mr. Trương Khắc Hoành, SII’s CEO and Mr. Geodino V. Carpio, MWC’s Managing Director with the witness of three partners’ leaders on 31th August 2015 at the Sheraton Hotel, HCMC.

The tightened handshake among Mr. Nguyễn Hồng Sơn, VOI’s CEO and Mr. Trương Khắc Hoành, SII’s CEO and Mr. Geodino V. Carpio, MWC’s Managing Director with the witness of three partners’ leaders on 31th August 2015 at the Sheraton Hotel, HCMC.

VOI’s Press Release – August 31, 2015

The signing ceremony of the Cooperation Agreement among the Vietnam – Oman Investment Company (VOI), Manila Water Company (MWC) and Saigon Water Infrastructure Corporation (SII) was held successfully on 31st August 2015 at the Sheraton Hotel in Ho Chi Minh City (HCMC).

This Cooperation Agreement is to further strengthen the strategic cooperation and investment in water infrastructure in Vietnam among the three partners: VOI, CII and MWC.

VOI is founded in 2009 as a joint venture between the two sovereign wealth funds of Oman and Vietnam: the State General Reserve Fund of Oman (SGRF) and the State Capital Investment Corporation of Vietnam (SCIC). Capitalize on supports of the Governments of Vietnam and Oman, VOI mainly focuses in long term and value investments in growth sectors such as power plants, toll roads, water supply, ports and logistics, consumer goods, health care, agriculture, and manufacturing, etc. VOI’s investee companies are leading corporations in their sector, such as Vinmec International Hospital, Ho Chi Minh City Infrastructure Investment Jsc (CII), Saigon Water Infrastructure Corporation (SII), Vinh Son – Song Hinh Hydro Power Plant, Toan My Highway 14 BOT JSC.

The Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), is the leading infrastructure developer and operator in HCMC and in the South of Vietnam with market capitalization of USD220million and a portfolio of strategic infrastructure assets of around USD1.5billion diversified in bridges and roads, water supply and distribution, industrial zones and property development. Just to name a few of CII’s high profile infrastructure projects: Saigon Bridge I and II, Hanoi Highway, Binh Trieu II Bridge, Rach Chiec Bridge, Thu Duc Water Plant, Dong Tam Water Plant, Trung Luong – My Thuan National Express Highway, etc. Since 2012, VOI has been becoming an anchor institutional investor in CII with strategic support and improvement of corporate governance, business strategy and project development. It is the commitment of VOI and other anchor investors of CII, including the Ho Chi Minh Financial Investment Corporation (an investment arm of the Ho Chi Minh People’s Committee) to expand their strategic investment partnership at all subsidiary and project company levels. VOI’s investment in Saigon Water Infrastructure Corporation (SII), and the coming investments in toll roads, water plant and distribution, etc. are exciting steps of such commitment.

MWC, the third party in the Strategic cooperation agreement is a leading Asian water player, a member of Ayala Corporation – the leading private economic group in the Philippines with market capitalization of USD10billion with its leading investment portfolio in telecommunication, water supply, power and energy, property development, etc. So far, MWC has committed around USD200million in Vietnam’s water treatment sector, including strategic investments in SII, BOO Thu Duc Water Plant, and Kenh Dong Water Plant. As an expert in clean water, MWC also provides technical assistance and management support to this Strategic Cooperation Agreement, particularly with experience in managing water distribution network.

“We are very proud of this partnership”, said the new VOI’s Chaiman, Mr. Abdullah Al-Harthy. “The State Government Reserve Fund of Oman is very keen to enhance and extract value from sectors that play a vital role in Vietnam’s growth story. We have been confidently working with CII on a number of projects with high impact on the economic and social development of Vietnam. In particular, CII, MWC and we all find that there is an urgent need and a huge economic value for the new water network development in areas that the people of Vietnam have limited access to clean water”.

The tightened handshake among Mr. Nguyễn Hồng Sơn, VOI’s CEO and Mr. Trương Khắc Hoành, SII’s CEO and Mr. Geodino V. Carpio, MWC’s Managing Director with the witness of three partners’ leaders on 31th August 2015 at the Sheraton Hotel, HCMC.

During the break of the signing ceremony, Mr. Abdullah Al-Harthy, Chief Financial Officer of SGRF, VOI’s Chairman, shared with reporters about his enthusiasm and philosophy in long term investment in Vietnam.

It is noted that the Strategic Cooperation shall target to the pipeline of privatized water distribution network projects in Vietnam as well as in Ho Chi Minh City in order to fulfill commitment of the Government of Vietnam, and the Ho Chi Minh People’s Committee to bring clean water to majority of people and there will be no “white area” for clean water in Ho Chi Minh City.

Further emphasised by Mr. Abdullah Al-Harthy “VOI is also taking prodigious steps in developing other clean water projects as well as in other growing sectors across Vietnam. Vietnam’s growth story is explained by its political stability, a favourable demographic structure, its strong position within the global value chain and the expanding domestic consumption. These fundamental characteristics are key to our long term investment vision in Vietnam. With support of the two governments, investing in a better quality of life of the people of Vietnam and laying solid infrastructure for more prosperous Vietnam is our mission and that’s what a close friendship of Vietnam-Oman is all about”.