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DWS Vietnam Fund invests US$20 million in Prime Group
Prime Group JSC has announced that DWS Vietnam Fund, via a wholly-owned subsidiary, has made a US$20 million investment in the company.
DWS Vietnam Fund Limited is a closed end fund incorporated in the Cayman Islands. It is managed by Deutsche Asset Management (Asia) Limited, a member of the Deutsche Bank Group. The objective of the fund is to seek long-term capital appreciation of its assets. The fund invests in securities such as equity and debt instruments of entities that do some or all of their business in Vietnam.
Prime Group is one of the largest ceramic tile manufacturers in Vietnam following its inception in 1999 and a corporate restructuring from 2005 to 2007. It is also among the top five ceramic tile manufacturers in the world with a total annual capacity of 90 million square meters.
Prime Group is head-quartered in the northern province of Vinh Phuc and is currently building a big plant in Dai Loc, the central province of Quang Nam. Once completed by the first quarter of 2009, the Dai Loc plant will be the largest in South-East Asia on a single location.
This investment by the DWS Vietnam Fund in one of the leading manufacturers of ceramic tiles, focused on the domestic market, is an indication of the opportunities that are available in Vietnam. The fund’s manager believes that there are many opportunities available to Vietnamese corporations that are focused on the domestic economy.
PV
Viet Nam Net
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