Vietnam Becomes Top Finance Investment Destination
Vietnam will become the number one priority for JP Chase Morgan to invest in this year, said David G. Fernandez, the bank’s managing director in Singapore.
Vietnam’s capital market will see significant positive changes in 2007 as more and more businesses are issuing and floating shares on the local stock markets, he said.
In addition, Vietnamese domestic bonds are becoming more attractive due to lower coupons, while Vietnamese currency is stronger than the US dollar.
Fernandez forecast that Vietnam’s GDP would expand between 8.3 per cent-8.5 per cent in 2007, higher than the 8.2 per cent growth rate in 2006.
Not only JP Chase Morgan, many other foreign financial institutions are eyeing Vietnam as their top destination in 2007 because the country has become full member of WTO early this month and emerged with stable socio-political conditions and improved investment climate.
Dominic Scriven, managing director of the Dragon Capital, said he found in Vietnam a sustainable investment environment with long-term potential.
If comparing Vietnam to other regional countries, Vietnam is superior to them in security, stability and potential, he said.
Dragon Capital is managing assets worth some $800 million in Vietnam, half of which are shares of listed companies. (VNA)
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