Dr. Christian Kamm, president of Kamm Investment - a US-backed investment advisory firm based in Ho Chi Minh City, writes that local investors can follow in the footsteps of their foreign counterparts in using firms’ corporate governance standards to give clarity to a chaotic market.

Traditionally, equities are the mainstay of investing, government bonds are the safe alternative, options provide leverage for speculators, and mutual funds are considered as one of the easiest vehicles for investors. One type of investment that doesn’t quite fall into these categories and is often overlooked is the real estate investment trust (REIT).

Foreign companies can now hold as much as 50 per cent in joint ventures with Vietnamese companies to provide telecoms service in the strictly controlled telecoms sector.Deputy minister of Post and Telematics, Mai Liem Truc, last week confirmed that under the bilateral trade agreement (BTA) between Vietnam and the US, foreign companies would be permitted to form joint ventures with local partners to provide value-added services from December 12, Internet services from late next year, and basic telecoms and mobile phone services from December 2005.