VietNamNet Bridge – While some foreign investment funds have had their operation extended in Vietnam, domestic funds are less lucky. Forty seven investment fund management companies have been licensed, which have been the funds with the minimum capital of 25 billion dong. Many of them have been managing two or more investment funds, while all of them have been incurring heavy losses during their operation. Two management companies have been put under the special control for six months, namely the Huu Nghi Fund Management Company and Thanh Viet Fund Management Company, after they were found as unable to meet the requirements on financial security. Like many other investment funds, SSIVF with the capital of 1.7 trillion dong was set up in 2007, when the Vietnamese stock market was at its peak. However, the business has been performing badly due to the sharp falls of the stock prices. The dissolution of SSIVF was anticipated earlier this year, which has come true when the fund … [Read more...] about Domestic investment funds retire from the market
Vietnam investment funds
Fund management companies are being lifted to a successful year by the recovery of the economy and the stock market, according to a three-day investors conference organised by French firm Jaccar. With its first two days in HCM City and a final day in Hanoi , the first-ever event gathered around 100 foreign investors from around the world for an opportunity to meet with the CEOs and CFOs of 40 listed companies. Represented companies were drawn from such sectors as retail, petroleum, tourism, pharmaceuticals, telecommunications, banking and finance, rubber and industrial park management. “Vietnam is Asia’s rising star and is attracting investors from around the globe, thanks to a budding export sector and fast-expanding consumer market which makes the country’s growth rate one of the region’s most exciting,” said Teo Chang Seng, acting CEO and executive director of HLG Unit Trust Bhd, which manages an equity and growth fund, the HLG Vietnam Fund, launched in … [Read more...] about Market recovery lifts investment funds
Real Estate Investment Fund: Able to Warm up Market? Vietnam’s first real estate investment fund IndochinaLand Holdings of the Hong Kong-based Indochina Capital was set up in May 2005 with an initial capital of US$42 million. After more than one year, IndochinaLand Holdings decided to set up the second real estate investment fund in Vietnam with an estimated capital size of US$150-200 million. A promising landAccording to specialists, the landing of foreign financial funds into Vietnam has proven the fertility and potentiality in this country. First of all, its high economic growth of 7-8 per cent a year, only after China, its increasing foreign investment capital inflow, its growing overseas remittance volume, its upcoming WTO entry and its improving legal environment make the Vietnamese market in general and the real estate market in particular attractive to foreign investors. Besides, according to foreign investors, Vietnam has a young population (about 70 per cent of … [Read more...] about Real Estate Investment Fund: Able to Warm up Market?
Vietnam has seen the appearance of foreign investment funds committing thousands of billions of dong for a stake in Vietnamese enterprises, but many of them remained empty promises with the unannounced disappearance of investors, according to newswire Dauthau.vn. One of these was Global Emerging Markets Group (GEM) from the US. GEM has the total asset value of $3.4 billion and numerous subsidiaries over the world. After 25 years of operation, GEM has carried out 305 investment projects in 65 countries. In 2014, the group announced to pour capital into a number of Vietnamese enterprises, including VND800 billion ($35.4 million) in FLC Group, VND200 billion ($8.98 million) in Hoang Huy Group (HHS), and VND400 billion ($17.97 million) in Duc Long Gia Lai Group (DLG), to become the strategic investor. Besides, GEM committed to investing VND1.7 trillion ($76.38 million) in Hoang Anh Gia Lai Group and expected to complete the transaction within three months. However, the investor … [Read more...] about Foreign investment funds leave path of ruinous promises
Intl Investment Funds Eye US$20 Bln in Vietnam Tourism Twenty foreign investment funds are ready to invest US$20 billion in Vietnam tourism to tap the local potentials. “The funds are mostly interested in constructions of trade centers, hotels, and high-end entertainment complexes,” Kenneth Atkinson, manager of Grant Thornton Vietnam said, adding that Vietnam boats rich potentials for tourism development. “Vietnam will be among the top-ten global tourist destinations in the next century. The country will host six million international tourist arrivals in 2010. Therefore, the demand of hotel rooms will be increasing,” he added Notably, tourism is listed among the five strongest hard currency earners in the country after crude oil, garments and textiles, footwear and seafood and has a total export turnover of more than US$3 billion/year. Vietnam, which is home to many natural and cultural world heritage sites recognized by UNESCO beside beautiful landscapes … [Read more...] about Intl Investment Funds Eye US$20 Bln in Vietnam Tourism