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L.A. investment firm: $1 billion a year plan for Vietnam development

L.A. investment firm: $1 billion a year plan for Vietnam development

Private investment banking firm EurOrient said it will begin a $1 billion a year investment plan in Vietnamese infrastructure and finance projects, according to officials from the Los Angeles-based firm.

   Ron Nechemia, EurOrient's chairman and general director, told the Vietnam Economic Times that his firm's plan looks to invest in Vietnam's financial services, energy, port, transportation and telecommunications sectors.

   “We plan to invest $1 billion in three or four projects each year,” Nechemia said. He did not give details of how long his firm may continue that pace of investment.

   The first steps of the EurOrient plan will be investments in Vietnamese financial services projects and the creation of a joint venture with a Vietnam-based partner to invest in power generation. The $120 million wind-generated electric power plant under proposal would have a capacity of 120 megawatts, Nechemia added.

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