PHIL - Activated the first-ever Luxembourg bank fund for the Vietnamese economy this morning (6-12-20).
Huge first step, more to come. Bid building as more take notice.
New York, June 12, 2020 (GLOBE NEWSWIRE) -- PHI Luxembourg Development S.A., a Luxembourg-based subsidiary of PHI Group, Inc., (www.phiglobal.com, OTC Markets: PHIL), announced today that it has successfully activated the first-ever Luxembourg bank fund for the Vietnamese economy, PHILUX Global Funds (www.philux.eu), a Reserved Alternative Investment Fund (RAIF).
PHILUX Global Funds plans to create a number of subfund compartments over a period of time for investments in real estate, renewable energy, agriculture, healthcare and education in Vietnam. Initially, the fund intends to focus on the development of the Free-Trade Zone in the Chu Lai Open Economic Zone in Quang Nam Province, which will house the Chu Lai Multiple Commodities Center (CMCC) and the Asia Diamond Exchange (ADE), the first-ever rough diamond exchange to be established in the Asian Hemisphere comparable to the Antwerp (Belgium) and Dubai (UAE) exchanges.
Check out the PHIL board for the full PR and info. This is a major accomplishment for any company. This one happens to be at the bottom floor.