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
Investment fund accounting
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
Vinamilk has lost its appeal to foreign investment funds, with many beginning to sell down their holdings. Or are they just making space for the two largest foreign shareholders, Platinum Victory and F&N? Foreign funds take less of a shine to Vinamilk than before Vinamilk: out of the top 10 investments of Dragon Capital According to the latest report of Vietnam Enterprise Investments Limited (VEIL) published in December 2018, Vinamilk’s stock is no longer one of its top 10 biggest investments. VEIL is a closed-end fund trading on the Main Market of the London Stock Exchange. Vinamilk (HSX: VNM) has always been one of the top 10. Previously, in 2011-2015, Vinamilk made up over 20 per cent of VEIL’s portfolio, peaking at 27 per cent in 2012. VNM has been one of the favourite stocks in the Vietnamese stock market so far and has accounted for a large proportion of the portfolios of investment funds. However, during the last year, many big investment funds have … [Read more...] about Vinamilk no longer attracts foreign funds?
Vietcombank’s pre-tax profit hit a record high of VND18 trillion (US$769.3 million) in 2018. — Photo Vietcombank Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) will sell shares worth US$270 million to foreign strategic investors to increase its charter capital. After getting approval from the State Bank of Viet Nam (SBV) last month, Vietcombank also got the nod from the State Securities Commission last week to sell some 3 per cent of its charter capital to the Singaporean government’s investment fund GIC Private Limited (GIC) and Japan’s Mizuho Bank. On December 12, SBV approved Vietcombank’s proposal to sell shares to GIC and Mizuho. Under the proposal, GIC is expected to hold 2.55 per cent of shares while Mizuho – which is Vietcombank’s largest current foreign investor – will buy the remaining shares to maintain its holding of 15 per cent at Vietcombank. After completing the sale, the shares will not be … [Read more...] about Vietcombank to sell shares to fund capital hike
Việt Nam needs to develop policies to encourage angel investors to inject money in start-up businesses. - Photo vietnamnet.vnViet Nam News HÀ NỘI — Việt Nam needed to develop policies and an ecosystem to encourage angel investors to invest money in start-up businesses, heard a conference on Tuesday held by the Việt Nam National University’s University of Economics and Business. Khôi Nguyễn, founder and CEO of Wefit, a fitness startup with more than 100,000 users, said at the conference that the start-up ecosystem in Việt Nam had not fully developed yet. Together with a lack of a transparent legal framework, the start-up ecosystem was discouraging angel investors and venture capital funds from investing in Vietnamese start-ups. He added that several start-ups were asked to set up businesses in Singapore when receiving funding from angel investors or venture capital firms. Lawyer Vũ Văn Tính from the Hà … [Read more...] about VN needs policies to encourge investment in start-ups