US former Treasury secretary, present Chairman of world leading investment fund Cerberus signed MOU with Vinaconex-ITC for investment of more than USD 1 billion
On 12 January 2012, in Hanoi, Prof. Dr. John W. Snow, the world and US leading investment consultant, the US former 73th Treasury secretary and the present Chairman of Cerberus Investment management had signed Memorandum of Understanding with Vinaconex-ITC on investment to Cat Ba Amatina Project. The signature ceremony was witnessed by representatives of VINACONEX JSC, Link World International, and the press. 

Leaders of Vinaconex JSC, leaders of Vinaconex-ITC and leaders of Cerberus at the MOU signature ceremony.

Prof. Dr. John W Snow – Chairman of Cerberus and Mr. Tran Ngoc Quang – General Director of Vinaconex-ITC signed MOU.

Cat Ba Amatina Project invested by Vinaconex-ITC is a big tourist real estate project that has total investment of more than USD 1 billion. The Project is proposed to be a tourist destination of international scale by its attractive nature. It is also projected to represent the pride of Vietnam in international integration and in effort to make the country a “new economic tiger in Asia”. Before, during his first visit to Vietnam, Prof. Dr. John W. Snow had contacted Vinaconex-ITC and learned about its Cat Ba Amatina Project. Prof. Dr. Snow appreciated that Vinaconex-ITC is a potential counterpart for greater cooperation in the future. He also judged that to become counterparts of such a capable, experienced business that owns big projects in Vietnam like Vinaconex-ITC is a good opportunity for US and other international investors to enter Vietnamese market.  That were the reasons why Prof. Dr. Snow decided to choose Vinaconex-ITC as his first counterpart in Vietnam.

 (Views of Cat Ba Amatina Project of Vinaconex-ITC)

Although real estate market in the world and in Vietnam is still bleak, however, with decision to cooperate with Vinaconex-ITC, Prof. Dr. John W. Snow proposes that his fund is always making investment in the potential projects that have long development perspectives. Dr. Snow believes that there are no limits for real estate market in Vietnam. He also believes that Vietnamese economy will continue to grow; and when the market recovers Cat Ba Amatina will be ready to offer high-quality products to customers.

Besides, represented by their own experience, capacity, reputation and financial potentials, the two parties expressed their willingness to cooperate in other fields such as training and development of real estate management, and other business areas in Vietnam.

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