By Dinh Dung - The Saigon Times DailyHCMC - VinaCapital Group is working on a plan to raise capital from overseas for its two new funds in a move to further its investment in local companies and the property market in Vietnam in the years to come, said the firm’s top executive. Don Lam, VinaCapital’s chief executive officer, told a news briefing held at the Caravelle Hotel in downtown HCMC on Wednesday that the fund manager over the past few months met many international investors to promote Vietnam and introduce to them investment opportunities here.Lam revealed the group’s plan, saying that VinaCapital set a goal of raising between US$300 million and US$500 million to invest in Vietnamese equities and the real estate sector.The fund manager active in asset management, investment banking and real estate, is seen as the largest investor in Vietnam’s real estate market, focusing on mid-range residential market and building new townships in the country.Last … [Read more...] about VinaCapital raises funds for local equities, property
How companies raise capital
The move is to check on the efficiency of the projects, especially State-funded ones. “The important thing is not just quantity but the quality of theprojects and how effective they are, especially in helping localexporters,” said Vo Van Chung, the FIA’s Deputy Head of the OverseasInvestment Division. According to the FIA’s statistics,nearly 60 overseas Vietnamese investment projects were newly licensed orallowed to raise capital with a total investment of 400 million USD inthe first half of the year. Compared to the same period lastyear, investment capital has dropped, however, the quality ofinvestments has improved with focus on major economic sectors such asindustry and retail services, Chung said. Apart from such bignames as the Hoang Anh Gia Lai Group, the Saigon Thuong Tin Joint StockCommercial Bank (Sacombank), the Bank for Investment and Development ofVietnam (BIDV) and the Army Telecoms Corporation (Viettel), severalenterprises have begun to invest … [Read more...] about More efforts to raise quality of overseas investments
According to Ho Trong Lai, Chairman of strategy consultancy Heaven Light, SMEs and startups find it hard to access capital because they do not have information about the sources of funding, do not know how to go about soliciting funding from investors and lack the salesmanship needed to sell their ideas to investors. Many entrepreneurs complain that they do not know where to go to look for capital or how to meet with investors. Lai said it is like a student coming and asking where they can get scholarships. “You have to do your homework first. Nowadays there are a lot of organisations who can help you with the information; you can find them online very easily. “You can just Google everything. It is not difficult or technical.” To raise capital, entrepreneurs must at least know how to make a business proposal like a graduate looking for job must know how to make a CV, he said. Funds are now available more than ever before, and the problem is how a start-up … [Read more...] about Startups seek ways to access capital resources
BACKGROUND To curb rising inflation, which tended to continue escalating in Vietnam, the credit crunch policy was officially adopted in February 2011 and the real estate market was a target. According to official data released by the General Statistics Office (GSO), changes in consumer prices, housing and construction material prices, gold prices and US dollar prices are represented in the following table. The breakdown of price fluctuations in December 2010, January 2011 and February 2011 in comparison with those in November 2010 Time Consumer price Housing and construction material price Gold price US dollar price Dec 2010 1.98 2.53 5.43 … [Read more...] about How to Channel Capital into Real Estate Market?
WASHINGTON (AFP) — The Federal Reserve announced late on December 16 its first interest rate increase in more than nine years in a landmark move signaling the US has finally moved beyond the 2008 crisis.The move, which has repercussions across the global financial system, also imprinted Janet Yellen's personal stamp on US monetary policy after nearly two years as Fed chair spent plotting to reverse course from the easy-money stance bequeathed by predecessor Ben Bernanke.The Fed raised its benchmark federal funds rate, locked near zero since the financial crisis, by a quarter point to 0.25-0.50 percent, saying the world's biggest economy is growing solidly and should accelerate next year to a respectable 2.4 percent pace."This action marks the end of an extraordinary seven-year period during which the federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the Great Depression," Yellen said."It also … [Read more...] about Fed raises interest rate for first time in nearly a decade
Executives from start-ups and small and medium-sized enterprises (SMEs) were in attendance at a conference titled “Access to capital for startups” in HCM City on Thursday.According to Ho Trong Lai, chairman of strategy consultancy Heaven Light, SMEs and startups find it hard to access capital because they do not have information about the sources of funding, do not know how to go about soliciting funding from investors and lack the salesmanship needed to sell their ideas to investors.Many entrepreneurs complain that they do not know where to go to look for capital or how to meet with investors.Lai said it is like a student coming and asking where they can get scholarships.“You have to do your homework first. Nowadays there are a lot of organisations who can help you with the information; you can find them online very easily.“You can just Google everything. It is not difficult or technical.”To raise capital, entrepreneurs must at least know how to make a … [Read more...] about Conference helps start-ups access capital
Walmart, the biggest retailer in the United States, is opening its first-ever stores in the US capital -- but some aren't giving it a warm welcome. Wooed by Mayor Vincent Gray, the big box discounter has made plans to eventually open six locations, ultimately creating as many as 1,800 jobs in a city that, in some neighborhoods, has more than double the national average unemployment rate. "Jobs? We need jobs here big time," said Tinisha, who applied for a position at one of the first two stores Walmart is opening in Washington, set to ring up its first sales on December 3. But not everyone thinks the kind of jobs Walmart offers are a good thing. As recently as this summer, staunch opposition almost succeeded in pushing the retailer to give up its plans. There are around 4,100 Walmarts across the United States and the retailer is the country's biggest private employer. Offering everything a household could need in a one-stop shopping trip, from food to clothing to appliances to books, … [Read more...] about Walmart to open stores in US capital despite protest
VietNamNet Bridge – If it is true that VimpelCom sells its 49 percent stake in Beeline network to the Vietnamese partner Gtel at 45 million dollars, the second biggest mobile network in Russia would incur a heavy loss in the Beeline Vietnam affair. How much loss incurs for VimpelCom? According to Reuteurs, on April 23, VimpelCom announced that it has signed an agreement on selling all the 49 percent of its stakes at Gtel Mobile – the company that provides Beeline mobile network in Vietnam. The provisions of the agreement said that the buyer would pay 45 million dollars for the stakes, in cash. After the deal is wrapped up, VimpelCom would not have any more interests, duties and responsibilities in GTel Mobile. Meanwhile, GTel would have to stop using Beeline brand six months after the day of transfer. Commenting about the affair, a manager of a mobile network in Vietnam said that 45 million dollars is really a good price for the buyer. Just having to … [Read more...] about How much VimpelCom lost in Beeline project?
VietNamNet Bridge – Experts all have agreed that it’s necessary to offer big investment incentives to encourage investors to pour money into wind power projects, but they still have not agreed on how big the preferences should be. Vietnam turns its wind power dream into reality Pham Trong Thuc, Director of the Recycled Energy Department under the Ministry of Industry and Trade, said the government orders the wholesale buyer, EVN, to buy all the electricity output churned out by wind power projects. The selling price is UScent7.8 per kwh, not including VAT. The price in dong would be adjusted in accordance with the dong/dollar exchange rate fluctuation. Thuc stressed that the price fixed by the government and applied to wind power projects is much higher than the price of the electricity churned out with other kinds of fuels. He went on to say that the government has also decided that the products of clean energy projects, including wind power, can enjoy the subsidy … [Read more...] about How should the mechanism on wind power pricing policy be?
VietNamNet Bridge – No one knows how big the “underground”, or unregistered foreign debt is, while the official foreign debt has been found to be increasing steadily. Unregistered debt unaccountable Eighteen years ago, in 1996, Vietnam witnessed the beginning of a new trend: borrowing money from foreign sources through letters of credit (L/C). At the time, Vietnamese businesses were rushing to import goods under a system of deferred payment, a type of borrowing that involved zero interest when repaid on time. Typical loans terms were for 9-12 months. Both Vietnamese enterprises and banks were happy with this system, because they could mobilize huge capital for business. However, they had to pay a heavy price for their wrong calculations, because they did not anticipate the both exchange rate fluctuations and the delays often incurred in collecting money from the sale of imports. Some bank names, including Chau A-Thai Binh Duong, Viet Hoa and Dai Nam, then … [Read more...] about Unreported, official foreign debts raising fears