Don Lam, CEO and co-founder of VinaCapital Group, told the Daily that "People still need to eat and drink, and more important, the consumer confidence in Vietnam is still vefy high," explaining why the fund manager chose such industries.

According to Lam, VinaCapital is also interested in investment in real estate projects which are affordable for local buyers. He clarified that these projects would include houses and apartments for the middle-class people.

Regarding infrastructure, the group targets projects related to power development, including wind power. The group's Vietnam Infrastructure Ltd., which had net asset value of US$259 million as of 31 December 2008, had invested 9.8% of funds in energy by late June.

VinaCapital has total asset of US$1.8 billion, of which US$1.5 billion has been disbursed.

In related development, VinaCapital Real Estate (VCRE), a subsidiary of the VinaCapital Group, has appointed Savills Vietnam as the exclusive agent for sales of The Ocean Villas project in the central coast city of Danang and plans to launch replica villas of the project for customers touring the site by late next month.

The Ocean Villas is a residential component of Danang Beach Resort, which includes the five-star JWMarriott Hotel, two 18-hole golf courses designed by world famous golfer Greg Norman, and some 400 luxury villas.

As designed, The Ocean Villas will cover 21-hectares on the beach mid-way between the center of Danang City and the ancient city of Hoi An.

David Henry, managing director of VCRE, said in a statement that the entire concept of the Danang Beach Resort and The Ocean Villas was to provide a resort lifestyle for customers and for the Danang community in general.

He added that the company chose Savills, a leading real estate consultancy and service company, as the exclusive agent for the project because of its deep experience and knowledge of Vietnam's real estate market.

Savills says it has received purchasing enquiries and has consulted with hundreds of customers about the tourism property project.

Source: Saigon Times