Day: December 23, 2023

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Copenhagen Infrastructure Partners signs MoU with Mexican authorities for Helax Istmo, a green hydrogen project

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Funds II and Energy Transition Fund I, will develop Helax Istmo, a green hydrogen and green maritime fuels project in the Isthmus of Tehuantepec, in Oaxaca, Mexico.

COPENHAGEN, Denmark, Dec. 22, 2023 (GLOBE NEWSWIRE) — Helax Istmo (“Helax”), a wholly owned subsidiary of funds managed by CIP, today signed a Memorandum of Understanding (“MoU”) with the Interoceanic Corridor of the Isthmus of Tehuantepec (“CIIT”) and Mexico’s national Ministry of Navy, the Secretaría de Marina (“Semar”). Under the MoU, the parties agree to collaborate to support the development of a large-scale, integrated renewable energy project in Oaxaca, Mexico. Helax Istmo is projected to produce green hydrogen and green maritime fuels, contributing materially to Mexico’s sustainable development goals, as well as to the decarbonization of the shipping industry globally.

The MOU was signed in the presence of Mexican president Andrés Manuel López Obrador, who has recognized the project’s transformational impact for the Isthmus.

Ole Kjems Sørensen, partner at CIP and co-head of Growth Markets Funds, said: “This MoU showcases our long-term commitment to Mexico through the development of a pioneering project that offers green maritime fuels at scale — a first for the region. We would like to thank the Mexican authorities for their continued interest and support, and we look forward to continuing to engage constructively with national and local stakeholders and further develop Helax.”

Philip Cristiani, partner at CIP and co-head of Energy Transition Fund, commented: “Our Energy Transition Fund is the largest dedicated clean hydrogen fund globally and we are proud to take this promising step forward for Helax together with the Mexican authorities. When fully operational, Helax is ideally placed to cater to the growing demand for green shipping fuels and make a significant contribution to the decarbonization of the global shipping industry.”

The MoU acknowledges that Helax will undergo formal indigenous and social consultations under Mexican law. These are expected to take place in early 2024.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages 12 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com

For further information, please contact:

Simon Mehl Augustesen, Chief Communication Officer
Phone: +45 3052 6721
Email: siau@cip.com

Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com

GlobeNewswire Distribution ID 1000905813

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Iveco Group: periodic report on the buyback program

Turin, 22nd December 2023. Iveco Group N.V. (EXM: IVG) announces that the Company completed on a daily basis, starting from 18th December 2023 to 20th December 2023 the following transactions:

Date Number of repurchased Common Shares Average net price (euro) Total net consideration (euro)
18 December 2023 55,700 7.8789 438,853.65
19 December 2023 55,000 7.9187 435,530.74
20 December 2023 54,356 7.9997 434,833.10
Total 165,056 7.9320 1,309,217.49

With the purchases described above the Company completed the initial tranche up to €55,000,000 of the share buyback program announced on 14th April 2023, based on the authorization to repurchase up to 10,000,000 Common Shares with a maximum total allocation of €130,000,000, granted by the Annual General Meeting held on the same date.

A comprehensive overview of the details of the above transactions as well as the overall purchases related to the initial tranche of such share buyback program, are available on the Company’s corporate website at the following address: https://www.ivecogroup.com/investors/stock_information/share_buyback.

Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs more than 35,000 people around the world and has 20 industrial sites and 29 R&D centres. Further information is available on the Company’s website www.ivecogroup.com

Media Contacts:
Francesco Polsinelli, Tel: +39 335 1776091
Fabio Lepore, Tel: +39 335 7469007
E-mail: mediarelations@ivecogroup.com

Investor Relations:
Federico Donati, Tel: +39 011 0073539
E-mail: investor.relations@ivecogroup.com

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GlobeNewswire Distribution ID 1000905866

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Logistics firms advised to improve competitiveness


Hanoi: Vietnamese logistics firms have been advised to work harder to enhance their productivity, service quality and competitiveness amid current difficulties due to global economic instability.

Tran Thanh Hai, Deputy Director of the Import-Export Department under the Ministry of Industry and Trade (MoIT) said that this year, the logistics sector has seen great improvements, including the completion of a legal framework in the field.

At the same time, the system of ports, warehouses and delivery serving import-export activities has upgraded and expanded.

However, Hai said that domestic logistics firms have still faced limitation in both capital and human resources scale as well as experience in international operations, while their linkage has remained poor. But they still have many advantages compared to their foreign rivals thanks to the ownership of infrastructure and assets serving logistics activities as well as understanding of the business habits of local customers, Hai underlined.

He stressed the
need for Vietnamese logistics business to renovate themselves and change their business model towards the green direction, thus enhancing their competitiveness and ensuring their sustainable development.

This year, the World Bank (WB) has placed Vietnam in the 43rd position out of 139 economies in terms of Logistics Performance Index (LPI), up from the 53rd position in 2010. In the region, Vietnam is among five leading countries in the field together with the Philippines, Singapore, Malaysia and Thailand.

Vietnam has also been ranked in the top 10 places in the 2023 Agility Emerging Markets Logistics Index compiled by Agility, one of the world’s top freight forwarding and contract logistics providers. Particularly, Vietnam came fourth in the world in terms of international logistics opportunities, and was considered the country with highest potential for logistics development in Southeast Asia.

The Deputy Minister of Industry and Trade Phan Thi Thang said that in the coming time, the ministry will continue
to coordinate with relevant ministries and sectors to collect requests and proposals from localities, associations and businesses in the logistics sector inside and outside the country and submit a report to the Government and the Prime Minister to ask for adjustments, supplementation and completion of relevant mechanisms, policies and regulations, thus creating a favourable legal corridor for the domestic logistics sector to renovate and develop in a fast and sustainable manner./.
Source: Vietnam News Agency

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Foreign investments in property market expected to soar: experts


HCM City: Foreign investors are expected to plough large amounts of money into the Vietnamese property market in 2024-26.

Market research company Cushman and Wakefield said recently ‘Many transactions are in the negotiation process with a positive outlook. The expected investment goals still lie in finding clean, good-quality land funds with real value, as well as having legal ownership rights… and development potential.’

While there are still challenges, Cushman and Wakefield believe this is the right time for businesses to step up activities, especially those with deep pockets.

It attributed the optimistic forecast to falling bank interest rates and the passage of many new decrees that remove obstacles faced by the property sector.

Besides, the Government is implementing many other solutions to improve the quality of real estate projects, transparency, rule of law, and the business environment in general.

The property market, notably in Ho Chi Minh City and Hanoi, has developed rapidly since the La
w on Real Estate took effect in 2003.

Since then, M and A activities have also increased significantly in both number and value, according to Cushman and Wakefield.

But data from RCA and Cushman and Wakefield shows a slump in 2023, with the figure for the first nine months falling by 33% year-on-year to 729 million USD due to the lack of high-value deals.

Asian investors from Singapore, Malaysia, Taiwan (China), and the Republic of Korea (RoK) have led the way with advantages like geographical location, cultural similarities and understanding of local laws.

Overall, 2023 transaction data shows that foreign investors still account for most property transactions, purchases and investment activities, with the domestic sector accounting for less than 10% of transactions.

The company attributed the downturn to the fact that domestic businesses are still facing many unfavourable factors, such as the generally tricky situation of the economy, unresolved project legalities, corporate bond problems, and lack
of access to capital.

‘As the global economy is going through uncertainty, an emerging country like Vietnam has become quite a promising investment market,’ said Trang Bui, country head of Cushman and Wakefield Vietnam.

The attractive rate of return in Vietnam is an essential factor in the investment decisions made by foreign investors, Cushman and Wakefield said.

Since 2018, Vietnam has seen a total of 4.2 billion USD in property investment, of which housing and industrial assets accounted for 46% and 28%, according to RCA and Cushman and Wakefield data.

This shows foreign investors remain focused on traditional assets, mainly serving the needs of actual end users.

The high-end housing market remains the top choice of foreign investors. With increasing disposable income and rapid urbanisation, especially in Hanoi and HCM City, Vietnam has expanded its appeal to investors who want to target the housing sector.

Until 15 years ago, FDI flows were concentrated in the high-end housing segment.

Well-k
nown names in the market, such as Keppel Land and Capitaland, were among the first to offer high-end real estate projects, such as The Estella and The Vista.

The total supply of luxury apartments in HCM City then was around 1,700 units, of which about 1,000 were by foreign developers.

The market has since started seeing more foreign investors like Hong Kong Land, Frasers Property, Mapletree, Daiwa House, Nomura, Sumitomo, Lotte Group and GS.

This has increased the number of luxury apartments developed by foreign investors to 23,800 units as of Q3 2023.

Since 2018, the industrial and logistics real estate segment has outperformed most others thanks to growth in manufacturing, exports, e-commerce, transportation, and warehousing.

The manufacturing sector accounts for the majority of FDI as many businesses are interested in Vietnam as a new destination for expansion in Southeast Asia.

Foreign funds continue to look for investment opportunities in the form of well-located office real estate in Vietnam, espe
cially in HCM City.

In the last five years, rentals in office buildings have improved, especially grade A.

Since 2022, the market has been seeing some transactions, notably with the sale of hotels Ibis Saigon South and Capri by Fraser in HCM City.

In 2023, there was a significant transaction in the retail sector worth $52 million by Singapore’s Keppel Land Group./.
Source: Vietnam News Agency

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Vietnamese agricultural products introduced to Algerian consumers


Algiers: The Vietnam Trade Office in Algeria on December 22 coordinated with the Carrefour supermarket system in Algeria to organise an activity to introduce and promote Vietnamese products at the Carrefour Hypermarket in the City Center Mall in the capital of Algiers.

At the event, two of Vietnam’s key products – coffee and catfish (tra and basa fish) fillets – were introduced Algerian consumers. They had a chance to learn about information of Vietnamese products, how to cook them and try them.

Speaking to consumers, supermarket representatives, and local importers, Vietnamese Trade Counselor in Algeria Hoang Duc Nhuan said that Vietnam’s aquaculture output in 2023 is expected to reach more than 9.26 million tonnes and a total export turnover is estimated at 9.2 billion USD. Vietnam’s main export items include shrimp with an export turnover of 3.45 billion USD, catfish (1.9 billion USD), mollusks (0.8 billion USD), and tuna (0.9 billion USD).

According to the Vietnam Association of Seafood Exporters and P
roducers (VASEP), Vietnam’s tra fish has been exported to more than 140 countries and territories around the world, conquering both traditional and demanding markets like the US, the EU, and Japan.

Regarding coffee export, according to data from the Ministry of Agriculture and Rural Development, in the first 11 months of this year, Vietnam shipped abroad 1.36 million tonnes worth 3.5 billion USD. The figure is expected to be higher as the country is entering the 2023-2024 harvest season. Currently, Vietnamese coffee is present in more than 80 countries worldwide.

Algeria is considered a large market for coffee consumption as it imports 130,000 tonnes of coffee beans a year./.
Source: Vietnam News Agency

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Conference spotlights achievements, outlook of Vietnam-India ties


Hanoi: Vietnamese and Indian scholars and experts gathered at a conference in Hanoi on December 22 to discuss achievements of the Vietnam-India relations over the past 50 years and outlook for the bilateral ties in the future.



Participants agreed that Vietnam and India have shared a time-honoured relationship with strong connections in history and culture.



The modern stage of bilateral ties is closely attached with the name of President Ho Chi Minh.



Former Foreign Minister Nguyen Dy Nien, the first Vietnamese diplomat deployed to India to set up Vietnamese Consulate General, underlined that the Vietnam-India relationship is a special one. India provided Vietnam with great support during the past struggle for independence, he said.



Participants affirmed that despite considerable instability in the world, the solidarity and strong trust between the two countries have provided both sides with encouragement and confidence to overcome the current period.



Indian Ambassador to Vietnam Sandeep Arya underlined that India and Vietnam shared a similarity in promoting technology with the establishment of special task forces to make full use of the technological development during the growth process in each country.



At the event, participants also highlighted the potential of cooperation between the two sides in various fields, including digital transformation.



They emphasised that as both countries are striving for net-zero emissions, their experience in national energy transition can be helpful for each other, including models and policies regarding electricity auctions, power grid management, electricity purchasing and electric vehicle use encouragement./.
Source: Vietnam News Agency