(Bloomberg) -- Vietnam’s Indochina Capital Corp. and VinaCapital Group are trying to raise money, testing investor confidence as the nation’s export-driven economic growth is slowing and emerging markets are slumping.
VinaCapital, Vietnam’s biggest investment firm with $1.9 billion in assets, is in talks with investors to start real- estate and private-equity funds, Chief Executive Officer Don Lam said in Ho Chi Minh City. Indochina Capital, which manages about $750 million in assets, plans to close its biggest property portfolio this year, said Rick Mayo-Smith, co-chairman of the firm which is based in the same city.
Vietnam’s stock market was Asia’s worst performer last year as the economy grew at its slowest pace since 1999, hurt by slumping demand for the country’s exports. Emerging-market equity investors withdrew a record $48.3 billion from their funds in 2008, said Cambridge, Massachusetts-based EPFR Global, which provides investment flow data globally.
