$637 million Vietnamese seaport development project endorses Relex, requests National Bank of Belarus to invest via Relex cryptocurrency model Relex News Follow Jun 1, 2019 · 3 min read

In an unprecedented move, Relex has been endorsed by a $637 million seaport development project personally approved by the Prime Minister of Vietnam in its request for investment from Belarus.

Relex Founder Keith Hilden signed and stamped official letters in Ho Chi Minh City with the My Thuy International Port Joint Venture Company (MTIP) on May 30, requesting investment from Belarus for the My Thuy International Port.

“Thanks to Relex and its model we became aware that the Republic of Belarus has set itself on a course to implement new financial instruments through digital technologies and digital economies,” the seaport explained in its official letter. “We are hoping that Relex and the unique institutional status/position of its model in Belarus will allow us to provide the financing and provide legitimacy to protect the rights of our investors.”

Relex in cooperation with My Thuy International Port formally requested the National Bank of Belarus, the Ministry of Finance of the Republic of Belarus, and the Governor of Vitebsk province to provide their support in the form of investment promotion of $220 million.

MTIP was appreciative of Relex’s role in making it the first project within the Republic of Belarus to be considered for investment via new digital economy, and particularly through the Relex model. Relex Belarus’s CEO Oksana Lozytskaya will spearhead the digital investment proposal within Belarus.

Relex’s model of new digital economy, proposed and approved in Belarus, is leading to new capital investment relationships, opening up a whole new realm of possibilities for FDI via new digital economy.

The seaport will increase the country’s shipping capacity from its current 470–500 million tons of freight per year. It also seeks to provide an answer to the staggering congestion that has been choking the Cat Lai Port in Ho Chi Minh City’s District 2.

According to Vietnam Briefing, other investors in Vietnam’s future ports include “Vietnam Construction Service Development and Investment Co., Ltd, Golden Gate Construction Co., Ltd, Clearbrook Global Advisors, EMP Infra, PineStreet Infra, Boskalis, T&T Group, Infra Asia Investment, and Molnykit, a JV between Mitsui O.S.K Lines, Nippon Yusen Kabushiki Kaisha, and Itochu Corporation, and US-invested Cargill Vietnam.”