IFC Invests $40M in Vietnam Leading Private Firm

The International Finance Corporation (IFC), a unit of the World Bank, has signed an agreement to pour $40 million in Masan Group (MSN) - one of the leading private businesses in Vietnam.

 

The investment will be given as a Vietnam dong loan for Masan group in the six-year period.

 

Of the total, IFC will invest $10 million in shares to help the Vietnamese firm enhance operation and seek new business opportunities.

 

Masan, which is also the largest consumer goods producer in Vietnam, has so far set up partnership with the world’s leading financial institutions and investment funds such as BankInvest, Texas Pacific Group, Japan’s House Foods Corp. and IFC.

 

Foreigners now hold a combined 15.68% stake in Masan, which was listed on the Hochiminh Stock Exchange in November 2009.

 

IFC, dedicated to investing in private sector in developing countries, pledged $300 million investment in financial sector, small-medium-sized enterprises, energy consumption and infrastructure development in Vietnam this year, equal to the amount in 2009. (Masan’s Press Release)