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Japan Desk assists Japanese investors in Ha Noi Japan Desk assists Japanese investors in Ha Noi

The Investment Promotion Centre under Ha Noi's Department of Planning and Investment and Forval Vietnam jointly launched the Japan Desk on April 11 to assist Japanese investors in the city.

Two companies pay VND180 billion in tax arrears Two companies pay VND180 billion in tax arrears

Shareholders of the Pho 24 Commerce and Service JSC and the Hoan My Sai Gon Hospital JSC will pay more than VND180 billion, or US$8.57 million, in tax arrears.

Banking scam trial postponed Banking scam trial postponed

The Ha Noi People's Court yesterday decided to postpone the trial of Nguyen Duc Kien, former vice chairman of the founding council of the Asia Commercial Bank (ACB), because one of his alleged eight accomplices was absent due to poor health.

Toyota Viet Nam to recall 42,772 vehicles Toyota Viet Nam to recall 42,772 vehicles

Toyota Viet Nam (TMV) said it is preparing to recall 42,772 units of Innova and Fortuner for checking and replacing the spiral cable of driver's airbag.

AFC launches $50 million investment fund in Viet Nam
Updated: Tuesday, Dec 03, 04:02 PM

AFC Viet Nam Fund.— Photo AFC

HA NOI (Biz Hub)– Asia Frontier Capital Limited announced its newly-launched AFC Vietnam Fund on Tuesday, investing in Vietnamese listed equities, with a target size of US$50 million.

According to AFC, the fund will be available for subscription to qualified new investors as of December 10th, 2013, as it seeks to capture value in growth companies in the small- and mid-size segment.

Asia Frontier Capital (Vietnam) is the Cayman Islands-based investment manager of "AFC Vietnam Fund", under the leadership of CEO Andreas Vogelsanger .

"After a 70-90 per cent price decline in the years 2007-2012, we now see enormous upside potential in this new business cycle, which has just started and is expected to last for the next 5-7 years," said Andreas Karall.

Meanwhile, CEO Andreas Vogelsanger thought "Vietnam's growth prospects are very compelling, especially with the restructuring of the banking sector and various government stimulus packages to support the economy", stating that "a stable local currency, combined with very competitive labour costs, will help to further accelerate foreign direct investments into Viet Nam".

According to AFC, the investment in Viet Nam was an excellent addition to the well-established flagship AFC Asia Frontier Fund, which provides investors with exposure to Viet Nam as well as listed equities across high-growth Asian frontier markets, including Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka and Viet Nam.— VNS

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Chartered accountants abide by code of ethicsChartered accountants abide by code of ethics

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