Landesbank Baden-Württemberg wished to cooperate with GELEX in the development of projects

On May 31, at Gelex Group Headquarters, the Group’s Board of Directors had a meeting with Mr. Jens Rubbert, Managing Director in charge of Asia – Pacific region of Landesbank Baden-Württemberg (LBBW), the Federal Republic of Germany in Vietnam and Ms. Nguyen Thu Hoai, LBBW’s representative in Hanoi to share LBBW’s operation orientation in Vietnam and GELEX’s investment orientation in the coming time in the infrastructure segment.

At the meeting, Mr. Jens Rubbert shared that was his first business trip after 2 years of Covid. Although the epidemic has left a heavy impact on the economy, Mr. Jens Rubbert assessed that Vietnam was a dynamic market with a fast growth rate, especially when Vietnam had just been approved by S&P Global Ratings, and has upgraded the country’s long-term credit rating from BB to BB+ with a stable outlook, showing a positive view of Vietnam in the international capital market.

For the renewable energy segment, LBBW sponsored many projects in Vietnam, including GELEX’s wind power projects in Quang Tri. In the near future, the LBBW representative said that it would continue to finance renewable energy projects and provide M&A consulting services in the Asian market.

Board of Directors of Gelex Group and Mr. Jens Rubbert – Managing Director in charge of Asia-Pacific region of LBBW (the 2nd from left), Ms. Nguyen Thu Hoai, LBBW representative in Hanoi (the 2nd from right).

On GELEX’s side, Mr. Nguyen Van Tuan – General Director of the Group highly appreciated LBBW’s support for the Group’s wind power projects and believed in the good relationship of the two parties.

At the end of the meeting, leaders of both sides wished that GELEX and LBBW would have a long-term and sustainable cooperation, strengthen relationship building in the future when LBBW continued to funding for the development of GELEX’s renewable energy projects in the near future, and proposed and introduced potential investment opportunities for GELEX in the Asian market, connected interested investors to invest in GELEX or cooperated with GELEX to implement power projects, etc.

Landesbank Baden-Wuerttemberg was founded in the 1870s, is one of four long-standing banks in Germany, considered a pioneer in the segment of finance and banking. After more than 145 years of establishment, Landesbank Baden-Wuerttemberg has always taken firm steps and has expanded to other countries. With the abbreviation LBBW, the bank from the South of Germany was listed in the honor list when it was awarded the title of “Rates flow market-maker of the year” by Risk magazine for its important contribution to the derivative industry segment. In addition, the German bank LBBW is recognized as the owner of the most accurate forecasts on the money market.