Foreign investors show keen interest in strong businesses
Ha Noi (VNA) - Foreign investors and financial groups have over the past two months showed interest in Viet Nam's strong businesses by rushing to snatch stakes.
The Vietnam Opportunity Fund (VOF) attained 10 percent of the Kinh Do confectionary's stakes. The fund has invested nearly 40 million USD in 30 companies and projects in Viet Nam, including 5 million USD in Kinh Do.
The VOF had earlier co-operated with Kinh Do in its effort to buy the Wall's ice-cream production line from Unilever. The Wall's trademark was then changed over to Kido, which is seeing a growth of 20 percent a year.
The Mekong Enterprise Fund (MEF) also chose Duc Thanh wood furniture producer as its second Vietnamese investment. According to the MEF Director, Duc Thanh owns a good production management system, turns out products of high quality and is known for timely delivery.
Foreign investors have up to now held 30 percent of the stakes of Savimex, a famous Vietnamese trademark in the world wood product market. They include five large financial groups, namely PXP Fun Limited, IKEA, VOF, Indochina Capital, Kawn Investment Holding, and Wareham Group Limited.
Additionally, a multinational group has intended to invest in the Viet Nam Dairy Products Company (Vinamilk). Of the total 450 billion VND in shares Vinamilk offered at its auction, 78 percent have been bought by foreign investors./.
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