Last updated: 16:15 - September 30, 2006
New York financial investors interested in Vietnam http://www.nhandan.com.vn/english/business/300906/business_newyork.htm
For the first time, the giant financial group JP Morgan Chase has reserved a plenary session for securities investment in Vietnam and invited a Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) representative to give presentation to meet the increasing demand for information on investment opportunities in Vietnam from world investors. Ph.D Le Dang Doanh from New York writes.
Sriyan Pietrsz, director of JP Morgan's research department, said his phone kept ringing as many investors are invested in Vietnam. The fact that a session has been reserved for Vietnam in the conference is a signal showing the increasing position of the Vietnamese economy.
On the morning of September 25, the first day of the 11th annual Conference on Securities Investment in the Asia Pacific held in New York, Ms Pham Bich Van, Sacombank general director made a successful presentation to various investors who are very much interested in Vietnam. After her speech, more than 20 investors met Pham Bich Van to learn more about opportunities of co-operation with Sacombank.
The afternoon of the second day of the conference was the session on Vietnam. The session was presided over by David G. Fernandez, head of the Asia Economic Research of JP Morgan.
Dominic Scriven, co-founder of the UK-based investment fund management firm Dragon Capital, and the writer of this article, Ph. D Le Dang Doanh presented lectures on the Vietnamese economy. About 100 investors attended the session. The two lecturers presented information about the strength and weaknesses of the Vietnamese economy, highlighting Vietnam's high economic growth, its stable macro economy as well as socio-politics and the country's advantages in geographical location, young and trained labor force, and its fast-developing securities market.
The participating investors put up many questions about the legal environment, the maximum investment proportion foreign investors allowed to hold in State-owned equitised enterprises or commercial banks, the progress of equitisation in State-owned enterprises, and the rights of foreign investors in equitised companies, etc,.
JP Morgan intended to send a research director to Vietnam in October to learn more about the Vietnamese securities market. JP Morgan also announced they would organised a similar conference in Beijing next April. The conference will be lengthened with a fact-finding visit to Vietnam.
Talking with Ph.D Le Dang Doanh, the director of JP Morgan Group stressed the fact that investors were very interested in Vietnam was a great opportunity for the country. He also expressed his wish that Vietnam would create favourable legal conditions and speed up the process of equitisation in State-owned enterprises to bring "more goods" to meet the increasing demand of securities traders.
By Ph.d LE DANG DOANH (Tuoi Tre)
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