From right, Finance Minister Uttama Savanayana, Energy Minister Sontirat Sontijirawong and Industry Minister Suriya Jungrungreangkit (Source: bangkokpost.com) Bangkok (VNA) – Expanding the Thailand Future Fund (TFF) and tax reform are two priority policies that will boost development and help to reduce income inequality, Thai Minister of Finance Uttama Savanayana told the Bangkok Post Forum 2019 on August 5. Outlining urgent tasks, Uttama said that hefty expenditure now on infrastructure development and public welfare will strengthen competitiveness in the long run. To catch up with advances in technology, investment in digital infrastructure is also necessary but is budget-intensive, he noted, adding that the government cannot shoulder all the costs. To mobilise more capital for this purpose, the Finance Ministry is set to expand investment by the TFF, one of the government's chief financial vehicles for infrastructure development in addition to the public-private … [Read more...] about Thailand to expand infrastructure investment fund
Ave maria investment funds
Foreign investment funds upbeat about Vietnam’s startup prospects
The Hanoitimes - Investment in Vietnamese startups tripled the previous year to US$889 million in 2018 with 92 deal. Google supports Vietnam startups to access global markets Tokyo and Vietnam-based AI startup Cinnamon raises US$15 million in funding Vietnam Silicon Valley provides US$20,000 seeding fund for early stage startups PM commits to create favorable environment for startups Vietnam is expected to have more unicorns – or startups with value of at least US$1 billion – in the time ahead as the country has many advantages to support the development of the businesses, experts said. Vietnamese e-commerce startups will be among the top priorities for investors Lee Jae-woong, who was one of three founders of Daum Communications (now Kakao), said Vietnam offers huge potential for startups, driven by its growing internet penetration, smartphone adoption and predominantly young population. Vietnam now has favorable conditions to produce … [Read more...] about Foreign investment funds upbeat about Vietnam’s startup prospects
Foreign investment funds optimistic about startup potential
VietNamNet Bridge - Vietnam has no startups with value of $1 billion and higher (called unicorns), but foreign investment funds are optimistic about the future. Last year, Lee Jea Woong came to Vietnam seven times. He was one of three founders of Daum Communications, now Kakao. In 2016, he left the company and set up a venture fund and two startup incubators. He is now CEO of Socar. Daum, established in 1995, is now valued at $10 billion, with 4,000 workers, several dollar billionaires and many millionaires. Lee said Vietnam now has favorable conditions to produce unicorns, like South Korea of 20 years ago. “It’s time for Vietnam unicorns to turn up,” he said at the Forbes Vietnam Tech Summit 2019 on March 14. South Korea underwent industrialization in the 1960s, developed an IT industry in 2000s and is now entering the 4.0 industrial era. All three stages are occurring in Vietnam at the same time, which is a chance for Vietnam to make a jump in development. In … [Read more...] about Foreign investment funds optimistic about startup potential
Tough year predicted by investment funds as VN Index falls
VietNamNet Bridge - Big challenges for the stock market may occur in 2019, according to investment fund management companies. The Swedish Tundra Vietnam Fund likened Vietnam’s stock market in 2018 to a roller coaster. In the first half of the year, the market performed well with the VN Index hitting the peak of 1,205 points in mid-April 2018. Meanwhile, in the second half, it fell to 892 points. The index decreased by 9.4 percent in 2018. Even the two largest funds in Vietnam, which are managing billions of dollars worth of capital, namely VinaCapital Vietnam Opportunity Fund (VOF) managed by VinaCapital, and Vietnam Enterprise Investments Ltd (VEIL) of Dragon Capital, reported NAV decreases of 9 percent and 7.1 percent, respectively. Foreign investment funds such as Dragon Capital, VinaCapital, Vietnam Holdings Ltd, Pyn Elite Fund, and Tundra Vietnam Fund also reported the same problem. RELATED NEWS Foreign investment funds target market for mothers and kids Investment … [Read more...] about Tough year predicted by investment funds as VN Index falls
US-based investment fund invests in Organica Vietnam
Organica Executive Director Pham Phuong Thao (L) and SEAF Senior Managing Director Jennifer Buckey (Source: VNA) HCM City (VNA) – The Small Enterprise Assistance Funds (SEAF) Women’s Opportunity Fund (SWOF) and Organica Investment JSC signed a cooperation agreement in Ho Chi Minh City on January 9 to develop organic food production and trade. Accordingly, SWOF will buy 30 percent of stake in Organica to become its strategic shareholder. It will also assist Organica in financial governance and offer it a long-term loan for market expansion. SEAF Senior Managing Director Jennifer Buckey said her firm is a global investment management group based in the US. It provides growth capital for promising small- and medium-sized enterprises in emerging markets. In Vietnam, SEAF has invested in over 20 companies operating in different fields, with Organica as the first organic food company it has invested in. Apart from trade and financial factors meeting … [Read more...] about US-based investment fund invests in Organica Vietnam