Vietnam investment firm to start nation’s largest energy fund

Saigon Asset Management Corporation (SAMC) announced that it plans to raise $300m for an energy fund that will be Vietnam’s largest.

Kevin Flaherty, managing director of SAMC’s energy and natural resources investments, said that it is reviewing a dozen thermal and hydropower projects in Vietnam to invest in, as well as developments in Laos and Cambodia.

Vietnam plans to reduce government control in the power industry and implement a market-pricing system to attract foreign investments. The Vietnam government has announced an energy development plan that includes spending $45bn to triple its electricity generation capacity by 2020.

Flaherty said: “If you look at growth over the next two decades, this is a good sector to be in. There is a clear understanding from the decision makers that the sector needs fairly-priced tariffs that will provide a reasonable rate of return and encourage investors.”

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