Specifically, Great Master Pte. Ltd. will purchase a 20% stake in Trung Khoi, valued at VND 129 billion. After completion, the number of Trung Khoi’s shareholders will increase to four, including Mr. Nguyen Huu Men (holding 53.68%), Mr. Duong Minh Duc (25.27%), Mr. Mai Tuan Ha (1.05%), and the remaining 20% belonging to Great Master.
Trung Khoi’s shareholder list after the addition of Great Master. Source: Department of Planning and Investment of Quang Tri Province
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Great Master was recently established in November 2023 in Singapore. Its legal representative is Mr. Luo Jin-Jen (born in 1996, Taiwanese).
Trung Khoi, on the other hand, was founded four years ago in Dong Ha city, Quang Tri province. The company’s main business activities include real estate and land-use rights trading.
In 2020, the Quang Tri-based real estate company started with a chartered capital of VND 100 billion, which increased to VND 815 billion after just three months. The shareholder list remained similar to the present, except for the Construction and Energy Joint-Stock Company MCD Vietnam, which owned 5%. Mr. Men and Mr. Duc held 50% and 40%, respectively, while Mr. Ha owned 5% and served as the General Director and legal representative.
In late 2021, Trung Khoi’s chartered capital decreased to its current level of VND 645 billion, and the company relocated its headquarters to Quan Ngang Industrial Park, Gio Linh district. In November 2023, Mr. Nguyen Trong Tinh replaced Mr. Ha in his role.
Among the registered business sectors of Trung Khoi, real estate and advertising are market-access conditional sectors for foreign investors. Therefore, the authorities have requested the company to comply with the conditions stipulated in the Law on Investment of 2020 and the specialized conditions when conducting business activities in these fields.
Additionally, the real estate company is required to ensure that the sale of a stake to Great Master does not affect the implementation of investment projects associated with the legal entity that has been granted an investment policy decision.
Currently, Trung Khoi is developing the project “Construction and business of infrastructure of the multi-sectoral industrial park Trieu Phu in the coastal border area.” Therefore, the Department of Planning and Investment of Quang Tri Province has requested the company to strictly comply with the government’s decree on managing the activities of individuals and vehicles in the coastal border area of Vietnam. The company is also required to adhere to regulations regarding foreign workers in Vietnam and the recruitment and management of Vietnamese employees working for foreign organizations or individuals in Vietnam, along with other relevant legal provisions.
The multi-sectoral industrial park Trieu Phu in Quang Tri province has a total investment capital of VND 4.5 trillion. The project is located in Trieu Trach, Trieu Son, and Trieu Lang communes, Trieu Phong district, within the multi-sectoral industrial park of Trieu Son and Trieu Trach in the Southeast Quang Tri Economic Zone, spanning an area of 529 hectares.
In the year of Trung Khoi’s establishment, the People’s Committee of Quang Tri province decided to lease land to the company for the implementation of the Trung Khoi – Hai Le factory and office project. Accordingly, the company was granted a lease of over 54,000 square meters of land in the Hai Le industrial cluster, with a lease term until August 2070, classified as state land leased for a one-time payment for the entire lease term.
Also, in 2020, the Trung Khoi – Quan Ngang factory and office project was granted an investment policy decision by the provincial People’s Committee in May. The project aimed to invest in the construction and business of a factory and office system, with a land area of nearly 29 hectares and a total investment capital of over VND 461 billion. The project has a duration of 50 years, starting from the date of being granted the investment policy decision.
In September of the same year, the provincial People’s Committee approved the land lease (first phase) for the Trung Khoi – Quan Ngang factory and office project, with a leased area of 250,000 square meters in the Quan Ngang Industrial Park.
In 2021, a foreign joint venture, Petechim & Pacific Group, expressed interest in exploring investment opportunities and policies in the province to coordinate with Trung Khoi in developing infrastructure for industrial parks and economic zones in Quang Tri province to attract investors from Japan.
The joint venture, Petechim & Pacific Group, was established to support industrial park developers in attracting foreign investment. Simultaneously, they accompany businesses in developing industrial parks in Vietnam, investing in, managing, and developing projects focusing on solar energy, logistics, and industrial park infrastructure construction.
According to the provincial leaders, Quang Tri has identified three breakthrough priorities in investment attraction: industry (focusing on energy and processing), agriculture (producing for market demand and serving as a foundation for the province’s economy), and trade-tourism services.
Leaders of Quang Tri province in a working session with the joint venture Petechim & Pacific Group. Source: Vietnam Customs News
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A textile and garment enterprise in Quang Tri was sold to a foreign investor
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