VinaCapital Helps Boost Foreign Investment in Vietnam
Vinacapital, HCM City Trade and Investment Promotion Center and Vinasecurities jointly held a conference to promote foreign investment into Vietnam, a burgeoning economy in the Southeast Asia, October 4 and 5 in Ho Chi Minh City, state media reported.
The conference is aimed to provide latest information about Vietnam’s impressive growth at all sectors for foreign investors.
The country’s surprisingly rapid economic growth of 7.1 per cent a year since 1999 has become a magnet for foreign investors, said Vinacapital chairman Horst Geicke, adding that it is time for investment.
Vinacapital’s total capital into Vietnam has reached US$2 billion, much higher than US$200 million in 2005. Vietnam has been becoming an increasingly attractive business destination with large amounts of foreign portfolios.
VOF (Vietnam Opportunity Fund), Vinacapital’s most successful among its four funds, plans to invest in up to 30 per cent in Vietnamese blue-chips in property and finance sector in next six months, said VOF director AnDy Ho.
Vincapital’s Infrastructure Fund, meanwhile, is interested in electricity, telecoms, transport sectors in Vietnam, said the director Don Lam.
However, VOF and other foreign investors are worried about Vietnam’s high inflation rate, low liquidity and transparency. (Vietnam Economic Times, Youth, Laborer)
Vietnamese
