New aspect of financial investment (25/09)
06/08/2010 - 227 Lượt xem
VF2 is a member fund, pulling in capital from 16 investors, including 49% of foreign capital. However, this rate may be lowered to 30% to make ‘room’ for local investors.
European financial institutions are intensifying their investment in Vietnam. Several days ago, Penn Fund, an $80 million Danish investment fund, which focuses its investment in the private economic sector, presented itself in HCM City.
Hans Christian Jacobsen, Penn’s executive partner representative, said that Vietnam was a key market of this fund because it was a place with great potential for private economic development.
The list of foreign funds investing in Vietnam is getting longer. The nineteen funds with $2 billion of capital that the State Securities Commission (SSC) has announced is only the current number.
This time the Ministry of Finance and businesses have quickly responded to opportunities. Because of the withdrawal of the corporate income tax for listed firms as of January 1, 2007, many companies are trying to go to the bourse this fourth quarter.
One day after the Ministry of Finance released the new regulations on tax incentives, the Saigon Securities Trading Company (ISSI) decided to register for transactions at the Hanoi Securities Trading Centre. The Asia Commercial Bank (ACB) is trying to choose between the Hanoi Securities Trading Centre and the HCM City Securities Trading Centre to list its stocks.
However, the most important thing for businesses now is not only to take advantage of tax incentives but to access and absorb investment sources.
Foreign funds don’t pump money in just any company, but selected ones. Some funds frankly said that they will not be involved in business management, which is the weakness of many Vietnamese companies. Penn even said that it would not invest in companies that have been running for less than five years.
Thus, local companies must ‘upgrade’ themselves to be able to receive ‘foreign aid’. That’s the challenge for businesses as financial investment begins to take a new shape.
Source: TBKTSG
