Altus Special Situations Asia 1 LP, an investment platform of Altus Capital Corporation, will receive $65 million from IFC and its subsidiaries to set up a regional facility to invest in distressed companies across Southeast Asia, including Vietnam. Altus Special Situations Asia 1 LP, a special situation investment platform set up by Altus Capital Corporation (a specialist investor and asset manager that focuses on Special Situation and Distressed Assets investments across Southeast Asia), has secured $65 million from IFC, a member of the World Bank Group, and its two funds managed by IFC Asset Management Company (AMC): IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund. The investment, according to IFC, is targeted at supporting distressed companies in East Asia’s emerging markets with financing to ensure they can meet their financial obligations, regain creditworthiness, and preserve jobs, thereby contributing to sustainable growth. Altus Capital Corporation, … [Read more...] about Altus Capital funded to invest in distressed Southeast Asian companies
Sectors to invest in 2018
Indonesia calls on investors to invest in 80 projects
Jakarta (VNA) - The Indonesian Government has called on investors to cooperate with 21 state-owned companies to develop some 80 projects worth 42 billion USD in the country. "I assure that cooperation with state-owned companies is a proper approach to invest in Indonesia and there is no other right moment than now," State Enterprises Minister Rini Soemarno said at the Indonesia Investment Forum 2018 in Bali on October 9. The Indonesian Government will continue to develop infrastructure projects in the spheres of energy, land transportation, sea transportation and air transportation, she said. In addition, the development of the energy sector is targeting the electrification ratio of 99.9 percent by the end of 2019 and increasing the proportion of renewable energy in the fuel mix, Rini said. In the transportation sector, the Indonesian Government has set itself the target of constructing 1,794-kilometer toll roads, increasing the cargo capacity of sea toll roads to 34.8 million TEUs … [Read more...] about Indonesia calls on investors to invest in 80 projects
Vietnam to invest in innovative start-ups
The Hanoitimes - Vietnam always supports start-up companies as specified in the law on supporting small and medium enterprises and in Vietnamese government’s decree. According to economic experts, start-up businesses need to make good use of incentives and supportive policies from the Vietnamese government. Overview of the workshop The statement was made at the workshop themed "Investing in innovative start-ups” held in Hanoi on August 14 by Hanoi University of Technology in collaboration with the Department of Enterprise Development (the Ministry of Planning and Investment) and the Market Development Agency and Science and Technology Enterprise (Ministry of Science and Technology). At the workshop, participants discussed and exchanged ideas on innovative start-up incentives under Project 844 on supporting for the startup ecosystem and national innovation initiative until 2025; regulations on investment for small and medium enterprises in accordance with … [Read more...] about Vietnam to invest in innovative start-ups
Foreign funds grab opportunities to invest in Vietnamese companies
The Hanoitimes - Vietnamese companies have remained in the taste of foreign investment funds despite a rising trend of capital withdrawal from emerging and frontier markets. A group of investment funds managed by Dragon Capital has recently bought 4.21 million shares of Dat Xanh Group (DXG) to raise its ownership in the Vietnamese real estate developer to 19.03 percent. The group has bought nearly 11 million DXG shares since the beginning of July. Dragon Capital recently bought 813,110 shares of Vietnam Electrical Equipment Earlier, Dragon Capital also announced that it successfully bought 813,110 shares of Vietnam Electrical Equipment JSC (GEX) to lift its ownership to 13.6 million shares and become a major shareholder, holding 5.05 percent of the charter capital of Vietnam’s leading electrical wire and cable manufacturer. Dragon Capital’s remaining holding in GEX is in the hands of six other member funds, including Norges Bank (4.24 million shares–1.58 … [Read more...] about Foreign funds grab opportunities to invest in Vietnamese companies
Bac Giang targets US$2bn in investment in 2018
The northern province of Bac Giang is working out measures to attract US$2 billion in domestic and foreign investment in 2018. Priority will be given to projects in the fields of transport, energy, key urban area development, supporting technology for garment-textile and footwear sectors, hi-tech industry, spare parts, hi-tech agriculture and farm produce preservation and processing. The province will also focus on developing various forms of tourism, such as spiritual tourism, eco-tourism and resort tourism with hi-end hotels. To realise the target, the local authorities have requested investors of industrial parks to speed up the completion of technical infrastructure. The province is also accelerating the compensation for land clearance at Hoa Phu Industrial Park and selecting investors to build infrastructure at Viet Nam-Korea Industrial Park. It has asked the embassies of Japan and South Korea, along with the Japanese Chamber of Commerce and Industry in Viet Nam, Japan External … [Read more...] about Bac Giang targets US$2bn in investment in 2018