Jake Siewert, Warburg Pincus head of global public policy and political risk, met with Vietnamese President To Lam on September 23 on the sidelines of the United Nations General Assembly in New York. The discussion focused on the firm’s investments in the region, energy transition resources and strategy, tourism, and general outlook.

Warburg Pincus' Jake Siewert met with Vietnamese State President To Lam. Photo: VNA

Since 2018, Warburg Pincus, in partnership with Becamex, has been investing in BW Industrial Development JSC to establish it as the leading for-rent industrial developer in Vietnam. BW is playing a crucial role in helping Vietnam move up the manufacturing value chain by acting as the facilitator of ready-built modern, multi-story, institutional-grade infrastructure for international manufacturers seeking to quickly set up operations in the country.

This year, BW has continued to benefit from supply chain diversification and increased foreign investment, recording year-to-date leasing activity on track for close to one million square metres.

BW sees more tenants opting for larger spaces, as well as a diversification of industries from China entering Vietnam

“As a leading industrial developer, we’re excited to see more tenants opting for larger spaces, as well as a diversification of industries from China entering Vietnam. In addition to sectors like electronics, automotive, and renewables, we’re now seeing a broader range of industries choosing Vietnam as their manufacturing hub,” said Lance Li, CEO of BW.

Some of BW’s recent tenants in 2024 include Skyworth (10,000sq.m – BW Nhon Trach 2), Coherent (50,000sq.m – BW Nhon Trach 1), and Chevron (50,000sq.m – BW My Phuoc 4).

Besides BW, Warburg Pincus has also invested in Vincom Retail, a leading retail real estate platform in Vietnam; MoMo, a leading digital financial services platform; Techcombank, a leading bank franchise; and Lodgis, a leading hospitality platform in Southeast Asia. The company has invested over $2 billion in businesses in Vietnam, making it one of largest and most active global private equity investors in the country.