MARKET INSIDER – Vietnam’s diversified private conglomerate, ROX Group, led by entrepreneurs Tran Anh Tuan and Nguyen Thi Nguyet Huong, is significantly expanding its investment activities in Kazakhstan, signaling a strong focus on strategic projects in energy, infrastructure, tourism, and financial services.
Strategic Dialogue on Key Sector Investment
Le Anh Duc, ROX Group’s Director of Global Business Development, recently held a meeting with leaders from the Ministry of Foreign Affairs of Kazakhstan to discuss the implementation of potential investment projects in the Central Asian nation. ROX Group expressed particular interest in the renewable energy sector, including plans for the construction of large-scale power generation facilities. Additionally, the group is evaluating opportunities to participate in industrial infrastructure, tourism development, and the banking and financial services sectors.
Kazakhstan Seeks High-Quality, Sustainable Capital
Älibek Kuantyrov, Kazakhstan’s Deputy Minister of Foreign Affairs, emphasized the country’s objective of attracting investors committed to long-term, strategic cooperation. He stated that Kazakhstan’s goal extends beyond merely increasing capital flows, focusing instead on drawing in projects that feature high technologyand sustainable development.
Kuantyrov affirmed the government’s commitment to facilitating the successful and steady implementation of projects by companies like ROX Group. He stressed that these investments must generate a tangible impact on the national economy.
ROX Group Sees Strategic Advantage
In response, Le Anh Duc praised Kazakhstan’s strategic geographic location, political stability, and unique investment appeal. He noted that ROX Group views the local business environment and the government’s investor support policies as crucial favorable factors. The group identifies Kazakhstan as holding significant potential in energy, logistics, and financial services—sectors that could become vital links in the conglomerate’s broader regional strategy.
Established in 1996, ROX Group is one of Vietnam’s largest multi-industry private groups, with core operations spanning energy, real estate, infrastructure, finance, and hospitality services. The group currently manages over 100 projects across 12 countries with a total overseas investment exceeding $3 billion.
Expanding International Portfolio
ROX Group’s expansion into Kazakhstan builds upon its existing footprint in Central Asia, which includes a notable project in Kyrgyzstan: a 1,900 MW solar power plant integrated with an energy storage system and a large-scale urban complex in Bishkek. Furthermore, the subsidiary ROX Energy recently announced plans for a solar power plant investment at Lake Issyk-Kul.
In a related international move, TNG Global, a company closely linked to ROX Group, is active in the international real estate market with two major projects, Eastside and ELYSIUM Bayside, in Gibraltar. To finance the Eastside development, TNR Realty, a TNG Global member, is executing a £15 million bond issuance secured by 40.5 million shares of MSB (Vietnam Maritime Commercial Joint Stock Bank) held by the fund Buenavista Holdings Limited. MSB is part of the ROX Group ecosystem, where Tran Anh Tuan serves as Chairman of the Board of Directors.
