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January 28, 2025Vietnam secures funds for new Diamond Exchange Project
Philux Global Group announced a $5 billion private investor partnership to develop the Asian Diamond Exchange (ADE) and the International Financial Center (IFC) in Vietnam. Set to be established in Ho Chi Minh City, ADE will be a modern diamond exchange consolidating all diamond-related activities under one roof in a free trade zone with tax incentives.
The new diamond exchange will serve as a trading hub for clients from China, Singapore, Malaysia, Thailand, Indonesia, Cambodia, Korea, Japan, and Hong Kong. The Diamond Buildings will provide a secure and closed environment that houses everything a diamond trader needs under one roof, the first-ever combined rough and lab-grown diamond exchanges in the Asian hemisphere.
The Asian Diamond Exchange will be established in conjunction with the International Financial Center following the model of Dubai, UAE and the success stories of other prominent international financial centers.
