VinaCapital: Vietnam still leading emerging economy

March 10, 2011 | 07:20

(0) user say

VinaCapital has expressed belief in Vietnam ’s economic development, saying it is still one of the world’s leading emerging economies and a destination for foreign investors.

The financial group CEO, Don Lam said at a press briefing in Ho Chi Minh City on March 9 that in recent meetings with foreign investors, VinaCapital continued to hear their recognition of the Vietnamese economy’s long-term potential. They, however, expected Vietnam ’s reaction to economic challenges in 2010-11.

VinaCapital is a leader in asset and investment management and real estate development in Vietnam , running a property portfolio worth over $1.7 billion in total.

Andy Ho, Executive Manager of VinaCapital, unveiled a plan to attract 300-$500 million from foreign investors to establish two more member funds, VOF II and VinaLand II, to further invest in local companies and the property market. In 2011, the group also expanded the operation of VinaSecurities after signing an agreement with Macquarie Capital.

It has also inaugurated VictoryCapital company in Phnom Penh , Cambodia , to help Vietnamese companies interested in Cambodia , besides its main goal of running investment over there.

For his part, Alan Pham, head economist of VinaSecurities, said 2010 was a relatively successful year for the Vietnamese economy despite its double-digit inflation.

Recently, the Vietnamese Government has for the first time issued comprehensive monetary policies, including fiscal targets and foreign exchange rates to curb inflation.

These polices are expected to work in the near future, he added.

On this occasion, Don Lam was presented with the Labour Order by the State President. He said VinaCapital’s success was based on stable economic growth and its long-term growth process in Vietnam.

VIR/VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional