The 21 st Century Joint Stock company (C21) and the Saigon Asset Management (SAM) Corporation signed a strategic partnership contract in Ho Chi Minh City on January 17.

Accordingly, the Vietnam Property Holding (VPH) fund listed on Germany’s Frankfurt Stock Exchange under the management of SAM would become C21’s first foreign strategic shareholder with a total investment of 5 million USD.

When investing in C21, the VPH aims to profit from the company’s land fund of about 200 hectares in Ho Chi Minh City and other provinces.

Louis Nguyen, chairman and general director of SAM, and Tran Minh Duc, chairman and general director of C21, said they believed that this move will help to raise the value and benefits for both parties.

Formerly the Tuoi Tre (Youth) Limited Liability Company established by Tuoi Tre (Youth) newspaper, C21 is one of the first tourism and real estate development companies in Ho Chi Minh City which has a charter capital of over 193 billion VND.

Meanwhile, Sam is the official investment manager of the Vietnam Equity Holding (VEH) fund with assets worth about 125 million USD./.