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Japan's JFE withdraws from $3b Guang Lian steel plant project Japan's JFE withdraws from $3b Guang Lian steel plant project

JFE Group of Japan has announced it has cancelled its investment in the US$3-billion Guang Lian steel plant project at Dung Quat Economic Zone in central Quang Ngai Province.


SCPE invests $35 million in Golden Gate chain SCPE invests $35 million in Golden Gate chain

Standard Chartered Private Equity (SCPE) yesterday announced the acquisition of a significant minority stake in Golden Gate Trade and Services Joint Stock Company (Golden Gate).


Land plots dominate Nha Trang's residential market Land plots dominate Nha Trang's residential market

Nha Trang's residential market has more than 6,900 dwellings from 37 land plot, villa, townhouse and apartment projects, Savills Viet Nam has reported.


Launching of iPhone 6 excites Vietnamese market Launching of iPhone 6 excites Vietnamese market

The launching of Apple's iPhone 6 and iPhone 6 Plus has warmed up the Vietnamese market, as stores nationwide released information on the availability and prices of the two phones.



AFC launches $50 million investment fund in Viet Nam
Updated: Tuesday, Dec 03, 2013 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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OTHER NEWS
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