First financial investment conference in Vietnam, held by France based Jaccar Group, took place on October 28 in Hanoi with the participation of over 100 investors from many countries, along with representatives of Vietnamese management agencies and enterprises.
Jacques de Chateauvieux, chair of Jaccar said that the conference aims to let foreign investors know the growth potential of Vietnam’s economy in fields of telecommunication, consumer goods, pharmaceutical, and banking. Especially, when the world’s finance market is on the recovery impetus, and Vietnam is emerging strongly, the conference will create conditions for investors to seek new opportunities as well as offer local firms a chance to talk to investors for opening new partnership.
This event in Vietnam is regarded as a good signal for the market. Jaccar Group to date has established three investment funds in Vietnam with total capital of $270 million, including Vietnam Opportunity Growth Fund (VOG) with $20 million for investments in listed firms.
According to Jacques de Chateauvieux, depending on the movement of Vietnamese stock market, VOG will plan to expand and receive an additional capital volume from foreign investors.
Prior to the conference, Vietnam Asset Management Ltd (VAM) coordinated with HLG Unit Trust Bhd Fund Management Co (HL GUT-Malaysia) to launch the campaign “Investment in Vietnam” in many big provinces and cities of Malaysia to attract Malaysian investors through HLG Vietnam Fund—an open fund to invest in Vietnamese securities.
Teo Chang Seng, acting general director of HLG UT said that Vietnam is a rising star of Asia with the sustainable export and rapidly growing consumption market that helped Vietnam being one of the highest GDP growers in the region during some recent years. Thus, he expected, through the campaign, Malaysian investors have more chances to access Vietnamese market and HLG Vietnam Fund will raise about 50 million ringgit (or about 275 billion dong) from Malaysian investors.
Addressing at the conference, Nguyen Xuan Minh chair cum general director of VAM gave assessment that Vietnam would see the high growth potential from the unofficial market and equitisation of state owned enterprises. The stock market’s recent rally showed the good economic restore so VAM expected, the upward trend will be continued.
The start of both investment funds VAM and HLG UT in October inflected the more attention of foreign investors to Vietnamese market.