PHI Group Inc (PHIL)

[Minitruckin]

put things into perspective, Dubai is one of the world’s leading physical gold markets and diamond trading hubs, accounting for $75 billion annually combined. On average Dubai Diamond Exchange imported $6.65 billion worth of rough diamond and exported about $5.22 billion of polished products per year during the last seven years. DMCC Free Zone covers an area of 200 hectares of business and residential community with over 100,000 living and working, 15,000 companies registered and 170 countries represented. Other distinguished diamond exchanges include Antwerp World Diamond Center (https://www.awdc.be/), with 570+ years history and total annual turnover of $46 billion, and Israel Diamond Exchange (https://www.en.isde.co.il/), officially established in 1930, which has 3,100 members and annual turnover of $28 billion. The same team that helped set up the Dubai Diamond Exchange will be in charge of setting up the Asia Diamond Exchange in Vietnam.
PHI Group believes that the Luxembourg bank fund and Asia Diamond Exchange initiatives will provide very significant long-term value for our company, along with our other corporate initiatives.