Geleximco Group Joint Stock Company (Vietnam)

The subject is now specialized in Real Estate activities as well as investment in subsidiaries and affiliates. GELEXIMCO GROUP is well-known as one of the 10 largest multi-sector private economic groups in Vietnam, which operates in 5 main areas: industrial production; Finance - Banking (typically An Binh Bank); Real Estate; Trade - Service and High-Tech Agriculture.As Mass media, three real estate projects of the subject (Rural Residential Area and Resettlement Project at Dong Tram, Mieu Hamlet, Trung Minh Commune, Hoa Binh City; Hoa Binh - GELEXIMCO new urban area at Thinh Lang and Tan Hoa Wards, Hoa Binh City; Trung Minh - GELEXIMCO ecological urban area at Trung Minh Commune, Hoa Binh City) were on the list of 51 real estate projects issued by the Department of Construction of Hoa Binh province in Feb 2022, being granted building permits but not being qualified to sell and raise capital because of having violations. Since early 2022, the subject has issued bonds three times, earning nearly VND 3,000 billion.Noticeably, Geleximco Group has signed an agreement with Viglacera to hire land and infrastructure in Tien Hai IP, Thai Binh Province to build a factory for manufacturing and assembling automobiles with a stated investment capital of up to USD 800 million. As revealed, it will make a joint venture with foreign auto manufacturers to develop this project. Geleximco has been negotiating with two overseas units of which a potential partner is Chery - a large auto exporter in China.Generally, Geleximco Group is a large name in Vietnam. The business scope is still being expanded.