New York, March 25, 2022 (GLOBE NEWSWIRE) — PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg banking funds), the Asia Diamond Exchange (“ADE”) project in Vietnam, mergers and acquisitions and investments in special situations (www.co2- 1-0 .io), is pleased to announce that the company has signed a strategic cooperation agreement with Mekong Delta Group, a Vietnamese company, to cooperate with each other to jointly develop, finance and execute projects in large scale in a number of key sectors in Vietnam.
According to the agreement, the two parties have agreed to cooperate in the following areas: (1) real estate: hotel projects, residential areas, industrial projects and industrial properties, (2) energy: solar, wind, biogas and waste management – to energy programs, (3) environment: drinking water, wastewater treatment, waste management, (4) agriculture: high-tech agricultural cultivation for domestic consumption and export, and (5) financing: threshold capital , equity and debt financing . The Mekong Delta Group’s current multi-billion US dollar businesses in Vietnam include a 300ha urban area in Bien Hoa City, Dong Nai Province; a 1,100 ha urban development project in My Duc district, Hanoi; a 500 ha renewable energy project in Binh Phuoc province, among others.
At the same time, the Company has made good progress in the Asia Diamond Exchange development project, the 2,700 ha industrial and logistics zone near the new Long Thanh international airport, Dong Nai province, the Cai port project 2,000 ha Mep Ha, the 3,000 ha urban development project in Long Dien district, the 90 ha resort and residence project in Ho Tram, Ba Ria Vung Tau province and the culture project 54,000 ha sorghum farm for Empire Spirits, Inc. in Binh Phuoc Province, Vietnam.
During our last trip to Vietnam, we also had the opportunity to visit several key leaders of Vietnam’s central and local governments and study large-scale projects in Cu Chi district, Ho Chi Minh- City (https://www.sggp.org.vn/cau-lac-bo-ket-noi-doanh-nhan-viet-nam-quoc-te-vienc-ket-noi-quy-dau-tu-phigroup- va-tap-doan-bds-dat-xanh-lam-viec-voi-lanh-dao-huyen-cu-chi-801806.html). Our PHILUX global funds and international long-term financing programs are expected to play a major role in a number of key development projects and investment opportunities in Vietnam.
On another note, KOTA Group and Five-Grain Treasure Spirits have agreed to extend the closing of these acquisitions to a later date as we continue to finalize financing for these transactions.
About PHI Group, Inc.
PHI Group (www.phiglobal.com, PHIL) is primarily focused on the advancement of PHILUX Global Funds, a group of Luxembourg banking funds organized as the “Reserved Alternative Investment Fund” (“RAIF”) and the construction of the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in certain industries and special situations (www.co2-1-0.io) that can significantly increase shareholder value.
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PHI Group, Inc.