VinaCapital is launching a new fund for investment in Vietnam's rapidly growing infrastructure sector, seeking to raise US$200 million in first fundraising exercise in May 2007.
The Vietnam Infrastructure Limited (VIL) will also seek admission to the Alternative Investments Market (AIM) of the London Stock Exchange, a VinaCapital press release said.
VIL will invest in Vietnam's infrastructure framework, through a portfolio of infrastructure assets in key economic regions. It will be Vietnam's first, fully dedicated fund to invest in this rapidly growing asset class.
VIL will focus on four key industries: energy, transport, water and telecommunications.
The company seeks to achieve target total net returns of approximately 20% per annum from investment to exit. It has already identified a number of potential investments.
Vietnam’s rapid growth over the last decade has placed increasing strain on its ageing infrastructure with demand fast outstripping supply.
According to the World Bank, Vietnam will need a projected $140 billion in infrastructure investment over the next five years.
William Lean, Managing Director of VinaCapital's Infrastructure Group, said the demand for infrastructure investment had created attractive opportunities for the private sector to become strategic investors in this field.
As the Vietnamese government has established necessary framework for the private sector’s participation, “We are very excited … and we look forward to investing in this rapidly growing asset class”, Lean said.
Source: Thanh Nien
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