SVA Financial Group: Bright Spot in Int’l Economic Integration

SVA Financial Group is known as an economic corporation of multi - sectorial and multi - disciplinary businesses, possessing more than 30 subsidiaries. In the orientation of “sustainable development and creative thinking”, SVA Financial Group always puts priorities to its financial investment as a major sector. Besides, charity also is among its major activities. SVA Financial Group has become a reliable linkage of attracting FDI and ODA from potential markets in the world to invest in our country, significantly contributing to the economic construction and development of the country.

 

By the affirmation of SVA Financial Group’s successes, many foreign partnerships have sought to cooperate with us, especially United States partners. At the end of 2010, SVA Financial Group signed a cooperation agreement with United States partners, both sides generally expect to become a trustful partnership to each other, basically after completing the orientation, strategic partnership will hold 49 percent of stock in SVA Financial Group, raising total capital of SVA Group up to VND4,000 billion. In order to perform this process seriously, both sides have been undertaking necessary procedures of inspection, audit, valuating assets, trademarks, goodwill and social obligations to community...

 

During a short time, both sides have promptly operated and achieved positive results. Vietnam Credit - a credit information and rating agency has recently granted the certification of assessing credit, situation and health status of SVA, which helps domestic and foreign investors easily identify its capacities of payment as well as assess leadership, management and social responsibility of business. SVA Financial Group was honored to be the first corporation to receive this certificate. During three years, SVA Financial Group has been continuously certified by Vietnam Credit with ratings of BBB, BBB and Good and Strong “BBB” in 2009, 2010 and 2011 respectively, which shows its capacity of payments...

 

Lately, SVA Financial Group and Financial Consulting Solutions Corporation have tightly cooperated to complete procedures that banks and financial funds of United States require. Presently, we have fulfilled final procedures. The US$500 million financial package will surely come to Vietnam. The tightness in financial management of United States’ banks and financial funds also needs to be discussed. They take time to study and evaluate clients carefully before making a final decision. But we believe that this consensus will strongly insure a better future for both sides.

 

By its internal financial resources, many major projects of SVA Financial Group are still in smooth performances. However, when the US$500 million financial package will be transferred to SVA Financial Group’s investments, implementation of projects will be accelerated and expanded in a larger scale, and it will not only actively contribute to development of industrialisation and modernisation of the country, but also help SVA Financial Group affirm the power of its brand in domestic and foreign markets.

 

That project is a combination of wind power farms in Quang Tri province with capacity of 1,200 MW in the second phase with investment of US$4.8 billion. Currently, we have been performing land acquisition to initiate the construction of installing a wind power farm with capacity of 30MW in the first phase, which is planned to begin in the first quarter of 2012 and will be connected to central power nets in the last quarter of 2012. By orientation of agreement in investment with United States’ partnership, we highly agreed and considered this project a feasible one.

 

The projects that SVA Financial Group and United States’ partnership especially concern is My Thuy deep-water port project in Quang Tri province, with total investment for all three phases reaches US$1.4 billion; as well as SVA Financial Group’s various real estate projects with land use of 2,123 ha.