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Long-term foreign investors eye Vietnam, say experts   2008-06-01 - ThanhNienNews

Vietnam remains a potential destination for medium- and long-term foreign investors, said experts at a financial investment conference in HCMC Saturday.

 
   

 

 

VinaCapital Group director Andy Ho said at the meeting that Vietnam’s economic problems, such as accelerating inflation and a widening trade deficit, would not last long.

He said the country has a great deal of potential for medium- and long-term investors as it has stable politics, and rich natural resources – such as oil, coal and seafood, and a 3,300-kilometer coast that offers the advantage of developing marine industries.

The country attracted foreign direct investment (FDI) worth around $15 billion in the first five months of the year.

Ho insisted Vietnam would continue to develop rapidly in the next 3-5 years.

Ban Viet Securities Company general director To Hai said portfolios worth nearly $10 billion were pumped into Vietnam over the last two years, 90 percent of which were from closed-end funds.

“These funds will run for 5-10 years, so portfolios are still flowing into Vietnam,” he said.

He also added that portfolios worth around $600 million poured into the country this year while foreign investments have lessened in other Asian countries.

Hai suggested investors should buy stocks in rubber, mineral and seafood exporters.

Ho said many foreign players were waiting for the government to implement new measures against current problems.

Canada’s Master Money Traders founder Don Schellenberg warned that investors should not treat stock trading as they would treat gambling.



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