Philux Global Group confirmed on Friday, 17 January, the signing of a $5 billion private investor contract to develop the Asian Diamond Exchange (ADE) and the International Financial Center (IFC), both located in Ho Chi Minh City.
The ADE is envisioned as a state-of-the-art bourse consolidating diamond-related activities within a newly-created free trade zone offering tax incentives.
“The Diamond Buildings will provide a secure and closed environment housing everything a diamond trader needs under one roof, combining rough and lab-grown diamond exchanges in Asia for the first time,” the company stated in a press release.
The project will emulate successful international financial centers like Dubai, UAE, and others, integrating diamond trading with financial services.
In addition to trading, ADE will feature lab-grown diamond manufacturing and polishing facilities. Rough diamond trading centers and polishing units will be situated near the under-construction Long Thanh International Airport in Dong Nai province, close to Ho Chi Minh City.
The ADE aims to serve as a central hub for diamond consumers across the region, including China, Singapore, Malaysia, Thailand, Indonesia, Cambodia, Korea, Japan, and Hong Kong.
Philux Global Group, headquartered in Luxembourg, is also spearheading renewable energy initiatives alongside its diamond and finance projects in Vietnam.
