"The strong growth of Vietnam's economy and its real estate market was the reason for Manulife Financial, the world's fourth largest financial investment group, to make its decision," Dominic D' Alessandro told Lao Dong (Labour) daily.
According to the group leader, Manulife Financial made its first move by opening its office in Phu My Hung urban area in Ho Chi Minh City and plans to expand to other cities and provinces.
Besides investing in construction of trade centre and office buildings, the group will invest in the stock market despite recent fluctuations.
In mid-July, the State Securities Committee granted license for the Manulife Fund Vietnam to make public offering of the certificate of an investment fund to mobilise VND250 billion (US$15.6 million). Less than two months later, the company closed the fund as the mobilised capital had exceeded the target.
Gilbert Pak, General Director of company said that this was the "golden moment" to invest in Vietnam's securities market as the country was in the initial period of the economic reform and the recent share price adjustment make prices of some stocks become attractive.
According to Dominic D'Alessandro, close to 90 per cent of the capital of the investment fund will be invested in Vietnamese securities market.
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