Sovico Group signs a strategic partnership MoU with Avalon Airport, part of the Linfox Group (Australia)

(Hanoi, August 23, 2019) – Today in Hanoi, Sovico Group has inked a Memorandum of Understanding (MoU) to establish the comprehensive partnership with Avalon Airport, a company owned by Linfox. Linfox is an Australian multi-sector investment comglomerates covering aviation, realestate, transportation and logistics and facility development. The event took place during the visit of Prime Minister of Australia Scott Morrison to Vietnam.

Representing Sovico Group, Chairman of Founding Committee Nguyen Thanh Hung signed the MoU with David Fox, Chief Executive of Avalon Airport, with the witness of Vietnamese Prime Minister Nguyen Xuan Phuc, Prime Minister of Australia Scott Morrison and other high-ranking dignitaries from both countries.
In particular, two partners will mutually cooperate for developments regarding air transportation of passenger and cargo services, aviation facilities and hotel accommodation in Australia as well as enabling to open and connect flight routes between Vietnam, Melbourne Avalon and other regional nations in the coming time.
The MoU also provides initiatives for the two companies to extend the relationship to broader business aspects, including the ability to establish joint ventures for developments in aviation, supply chain and airport facilities through Vietjet Air and in entertainment & hotel services, finance and banking services through HDBank.
Founded in the early 1990s, Sovico Group is a leading multi-sector business group in Vietnam and has been well regarded internationally. It has operated effectively and sustainably across key economic sectors including Finance and Banking; Aviation; Real estate; Energy; Asset Management and Investment. Sovico Group is the founding sharesholder of Vietjet Air and the major shareholder of HDBank.