Specifically, Maybank will finance Sinohydro's EPC (Engineering, Procurement, and Construction) projects for building offshore wind farms.
With a total installed capacity of up to 350 MW, the Ca Mau 1 Project is expected to become the largest offshore wind farm in Southeast Asia to date, divided into four zones from 1A to 1D.
During the construction of the first two zones, 1A and 1B, Maybank provided $38.2 million in financing in the form of discounting bills of exchange against export documents.
Mr. Michael Foong, General Director of Maybank Vietnam, commented: "We anticipate a wave of foreign direct investment in renewable energy and green technology in Vietnam in the near future, especially with support from sustainable capital sources and green trade financing. Maybank is actively connecting Vietnamese businesses with international investors to promote this process, especially as Vietnam is preparing to be upgraded from a frontier market to an emerging market.”
And recently, Maybank Investment Bank (Vietnam) – a subsidiary of Maybank Group – also acted as the exclusive financial advisor for Phuc Sinh Joint Stock Company (a leading company in Vietnam's spice export industry) in securing investment from the &Green Investment Fund – a fund managed by SAIL Investments, a global sustainable investment manager based in the Netherlands. Although the global trend of foreign direct investment is declining, the fact that a European investor believes in the potential of a Vietnamese agricultural enterprise like Phuc Sinh, with an intention to provide up to US$25 million in funding, is very encouraging.
Source: https://baotainguyenmoitruong.vn/maybank-mo-rong-tai-tro-du-an-dien-gio-ngoai-khoi-lon-nhat-tai-viet-nam-379942.html
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