Three leading US corporations, Lexington Langha, Vikoa Investment Consultant and Development JVC, and Heartland Funds, will likely join hands to set up an investment fund with capital investment of US$50-100 million in Vietnam, local Vietnam Economic Times cited a senior official of Lexington Langha.
James Kim, among 25 US representatives arriving in Vietnam last week to seek investment opportunities, said more and more US businesses are keen on investing in the country.
The fund will focus on real estate and the stock market, as Vietnam’s stock market stands out among emerging economies, the newspaper said.
The fund’s birth will draw attention from more US businesses in the coming time, James Kim noted.
Meeting with representatives of VinaCapital, Indochina Capital and Mekong Capital, James Kim expressed his belief that the fund will reap great success in Vietnam’s capital market.
“We are now interested in riverside urban development projects in the Red River basin valued at US$40 billion, particularly real estate projects in inner city Hanoi,” he added.
The fund headquarters will be in Hanoi, but it will probably seek many investment opportunities in Ho Chi Minh City, he revealed.
Vietnam so far has 46 foreign investment funds licensed, of which 23 were established since the end of 2006. If each fund contributed about US$50 million, about US$1.15 billion worth of indirect foreign investment would be poured into Vietnam’s stock market.
Currently, about 200,000 accounts have been opened in Vietnam, of which 80 per cent are domestic private investors. Vietnam ranks after China, according to statistics by State Securities Commission. (Vietnam Economic Times, Vneconomy)
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