The reason why so many Vietnamese will buy is because the company is working in Vietnam to make the country a better place.
Vietnam is not the country those who fought in the war will remember. It’s has also become a highly developed economy/ country.
I went to a coffee shop in the the 2010’s sometime where there was a Vietnamese student working part time who was also studying International Finance and Banking at one of London’s top Universities. Even the way he made my coffee was a perfect example of skill and technical application!
If those were the people who were being trained ten years ago, the positive effect that they had on the economy will be starting to show through by this time.
The fact that PHIL has opened a fund in Luxembourg shows that the Vietnamese market has matured sufficiently to make it investable for international investors. Where do you locate your fund? Simple in the most advantageous tax jurisdiction available.
(Why Luxembourg? Let me give you a quick example. I live in London, I buy a lot on Amazon on the UK. However, the contract to purchase whatever it is that I’m buying is with Amazon in Luxembourg. Why? It’s simple, there’s no corporate tax on profits on companies registered in Luxembourg.)
Clearly the PHIL management are smart enough to already understand international finance and fund management.
The company is helping or making a strong contribution to the development of the Vietnamese infrastructure and developing businesses which will enhance the reputation of the whole country (read Diamond Exchange) and attract other international businesses to set up in the country.
Every Vietnamese investor able to buy shares will want to see them succeed and support them in every way possible.
Then of course there’s that targeted 15bn share buy back!
Let’s not forget that! Lol
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