Vietnam’s industrial production and infrastructure operator GELEX Group and its subsidiaries have announced the completion of a $79-million investment from three financial institutions, including HSBC, Landesbank Baden-Württemberg (LBBW) and the Italian Export Credit Agency (SACE).
Almost 50% of the amount was provided by HSBC in March to GELEX Infrastructure, a subsidiary of GELEX Group.
The transaction not only enables GELEX to diversify its sources of capital at competitive costs but also marks the group’s increasing access to leading international financial institutions—without any commercial purchase commitments or trade-related conditions.
“This transaction not only strengthens GELEX’s capacity to deliver on its strategic projects but also reflects the trust that global financial institutions place in the capabilities and sustainable vision of Vietnamese enterprises. It marks the starting point in our broader strategy to mobilise international capital in pursuit of GELEX’s long-term, efficient, and sustainable growth goals,” said GELEX chairman Nguyen Trong Hien.
GELEX Group, which is into industrial parks, real estate, energy and clean water, has several subsidiaries, such as Viglacera Corporation, Song Da Water Investment JSC, and Long Son Petrochemical Industrial Park Investment JSC.
Originally established as an electrical equipment manufacturer, GELEX’s current strategy focuses on targeted M&As, adoption of best governance and modern production practices, focused Capex investments, and timely restructuring to enhance subsidiary and portfolio performance.
GELEX is currently pursuing a partner ecosystem strategy (both domestic and international) to participate in the global value chain, shift towards higher value-added segments, and proactively acquire and apply technology from international partners to boost exports.
The loan will provide the company with long-term foreign currency financing, enabling continued investment in its core business areas and supporting long-term growth strategies.
HSBC is one of the largest banking and financial services organisations in the world, with assets totalling $3,054 billion as of March 31, 2025. Recently, HSBC announced a commitment to support Vietnam’s energy transition by providing a financial package of up to $12 billion for energy projects.
LBBW is the largest bank in southwest Germany and one of the largest commercial banks nationwide.
The bank’s range of services comprises short, medium, and long-term financing, customised financing solutions such as structured export and project finance, syndicated loans as well as international trade finance and payments, currency and interest rate risk management and capital markets advisory.
SACE is Italy’s national export credit agency, operating under the Italian Ministry of Economy and Finance.
SACE supports Italian companies and their international partners through credit guarantees, risk insurance, and export financing. Last year, SACE announced a plan to promote Italy-Vietnam trade and investment cooperation, with a total value of $1.3 billion.
