VIETNAM – INTERNATIONAL ENTREPRENEUR NETWORKING CLUB COOPERATES STRATEGICALLY WITH PHI GROUP, INC.

PHI Group, Inc.

New York, April 29, 2022 (GLOBE NEWSWIRE) – PHI Group, Inc. (www.phiglobal.com, PHIL), a diversified holding company currently engaged in PHILUX Global Funds (a group of Luxembourg bank funds), the Asia Diamond Exchange project (“ADE”) in Vietnam, mergers and acquisitions and investing in special situations (www.co2-1-0 .io), is pleased to announce that the Company signed a strategic agreement with Vietnam – International Entrepreneur Networking Club (“VIENC”) on April 29, 2022 to assist Vietnam-based enterprises to access international capital sources and other resources to develop and improve corporate advantages for sustainable growth and expansion in domestic and international markets.

Speaking at a ceremony with the participation of selective entrepreneurs, leaders of government authorities supporting trade promotion in Ho Chi Minh City and representatives of various news agencies, Mr. Dinh Vinh Cuong, President of VIENC, stated: Covid-19 pandemic has severely affected hundreds of thousands of small and medium enterprises all over the country. Within 2021, there were more than 100,000 domestic companies leaving the market due to severe difficulties. Since the beginning of 2022 until nowthere are a number of positive signals for economic recovery. Nonetheless, Vietnam enterprises in general still have not entirely escaped economic difficulties due to the increasing price of oil, raw materials and logistics. Capital scarcityis still a burning issue went Vietnamese domestic enterprises. Given this situation, with the mission of creating a playing ground to connect Vietnamese entrepreneurs within and outpage of Vietnam to support one another in order to push the post-pandemic economic recoveryVIENC has strived with great efforts to find and connect partners to assist domestic firms to maintain production stability and reinforce the development pace for the future as well. In this endeavour, we have studied and recognized the potential and fitness of PHI Group in assisting Vietnam-based enterprises to connect with worldwide financial markets. We have decided to cooperate with PHI Group to assist Vietnamese companies in the public listing of their stock in international markets and increasing the awareness of their brands”.

Resonating with Mr. Dinh Vinh Cuong, Henry D. Fahman, Chairman and CEO of PHI Group, Inc., concurred, We highly appreciate the entrepreneurship and creative dynamism of President Dinh Vinh Cuong and other VIENC’s members. Within a short course of timeVIENC has connected certain of its members operating in several sectors in Vietnam and other nations to develop into leading enterprises in several industries. VIENC is strong in contributing ideas on policies, connecting many investment opportunities in infrastructure in several provinces and cities of Vietnam, being dynamic in supporting enterprises to unleash their potential, thus creating conditions to seize the opportunity and access the necessary resources for development. We definitely share the same viewpoint and objectives with VIENC and believe we can assist dozens of VIENC’s member companies to go public in the US Stock Markets in the near future.

In the spirit of long-term partnership and collaboration, the two parties have signed the strategy cooperation aiming at the following priorities:

  1. PHI will help VIENC to set up an Emerging Growth Fund as a sub-fund under the umbrella of Luxembourg-based PHILUX Global Funds to raise capital for VIENC’s members.

  2. PHI will support VIENC through training programs and seminars to enhance leadership and management capabilities for VIENC’s members.

  3. PHI will assist VIENC’s members in to list their stock in certain international stock exchanges, particularly in the US and Europe.

  4. PHI will help VIENC to participate in the building of the Asia Diamond Exchange in Vietnam.

The aforementioned strategic cooperation signing ceremony will open new opportunities for VIENC’s entrepreneurs in particular and the overall community of Vietnamese entrepreneurs in general in the course of post-pandemic economic recovery and growth.

About Vietnam – International Entrepreneurs Networking Club

Vietnam – International Entrepreneurs Networking Club (VIENC) (http://vienc.org) was established on February 2, 2022 by Decision No.01 / 2022 / QD-EDRI by Director of Vietnam – ASEAN Entrepreneurs Institute for Development Research. VIENC has the following missions: (i) Networking: to connect Enterprises and Entrepreneurs in Vietnam and other countries; (ii) Sharing: to share opportunities in business / cooperation / investment; (iii) Upgrading: to improve management competence for enterprises and to enhance the lifestyle of members; and (iv) Social Responsibility: to contribute to the community through charity activities and support of poor people and disabled children.

About PHI Group, Inc.

PHI Group, Inc. (www.phiglobal.com) is a diversified holding company with a number of subsidiaries, including those engaged in advisory and financial services: (i) PHILUX Capital Advisors, Inc., a Wyoming company specializing in mergers and acquisitions and international capital markets, and (ii) PHILUX Global Funds, a Luxembourg Reserved Alternative Investment Fund, with various sub-funds designed for investment in real estate, blockchain and crypto technologies, agriculture, healthcare, and energy, etc.

PHILUX Global Funds has focused on working with Vietnam, to be affiliated with the World Federation of Diamond Bourses (WFDB) and fully complying with the Kimberley Certification Process (KPC) to set up a modern diamond exchange in Vietnam, also the first ever in Asia hemisphere, including processing centers for raw, processed and lab-grown diamonds. Vietnam has all the conditions for rapidly becoming a major commercial hub in the Asian region, following the successful model of Dubai Multi-Commodities Center (DMCC) which includes the Dubai Diamond Exchange and generates more than US $ 75 billion in annual revenues.

Recently, on April 1, 2022, PHILUX Global Funds reported its successful Certified Trade Mission trips with major investors and top finance industry executions in Dubai and Abu Dhabi under the auspices of the US Embassy in United Arab Emirates (UAE), the US Department of Commerce Trade Administration International and Trademissions.org (https://www.nasdaq.com/press-release/phi-group-successfully-concluded-the-certified-finance-trade-mission-to-the-united) and participated in connecting with key European investors in Zurich, Switzerland.

About PHI Group

PHI Group (www.phiglobal.com, PHIL) primarily focuses on advancing PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”) (www.philux.eu), and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in select industries and special situations (www.co2-1-0.io) that may substantially enhance shareholder value.

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

Contact:

PHI Group, Inc.

Phone: +1 714 793 2977

Email: info@phiglobal.com

Vietnam – International Entrepreneurs Networking Club

(https://vienc.org/)

Mr. Khiem Tran, Standing Vice-President

Cell phone: +84 91 333 55 33,

Email: khiem.tran@vienc.org, khiemtd@gmail.com

Ms. Vo Thuy Anh, Head of Public Relations

Cell phone: +84 94 515 04 98,

Email: vthnt21@gmail.com

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