Vietnam-based Tecco Group has signed an agreement with PHI Luxembourg Development SA, a subsidiary of PHI Group, to launch PHILUX Infrastructure Fund, the first-ever Luxembourg-based infrastructure fund for Vietnam.
As one of the fastest growing economies in ASEAN, Vietnam is currently demanding for more foreign financial investment and technical assistance to narrow its infrastructure gap. According to the Global Infrastructure Outlook, Vietnam requires an investment of $605 billion to meet 83 percent of its infrastructure goals by 2040. Among the sectors that have been given utmost priorities are the urban transportation, road & rail and port infrastructure.
Currently, just 20 percent of the country’s national roads are paved, and a recently approved plan to build Vietnam’s North-South high-speed railway, which allows passengers to travel between capital Hanoi and Ho Chi Minh City in about eight hours, will cost about $26 billion.
The rising population
