TIDMVNH TIDMVNHW

RNS Number : 7711C

VietNam Holding Limited

19 April 2017

VietNam Holding Limited ("VNH" or the "Company")

Monthly Investor Report

A report detailing the activities of the Company for the month of March 2017 has been issued by VietNam Holding Asset Management Limited, the investment manager of the Company. Electronic copies of the report have been made available to shareholders on the Company's website at http://www.vietnamholding.com/publications/investor-reports and a summary of the report is included below.

Investor Report Summary

March was another strong month for Vietnam, with the USD-adjusted Vietnam All Share Index rising 4.8% and VNH's NAV per share rising 5.4% to USD 2.818. Given that economic momentum and economic reform indicators remain positive, favorable investor sentiment towards the Vietnam market is likely to continue in the coming months.

Government finances were well under control in the first quarter, with only a nominal fiscal deficit of only VND 4tn which amounts to virtual balance. This probably will not be sustained, but it does demonstrate the government's ability to reduce the habitual 5-6%-of-GDP fiscal deficit if it really aims to do so. As such, the start of year fiscal deficit target of 3.5% of GDP is eminently achievable.

Helping confidence on government finances is the sustained commitment being shown to partial privatisation of state-owned enterprises. Whether the government really achieves the USD 10bn of proceeds from such sales during 2016-2020 that it talks of, or a lesser but still considerable figure, is not so critical - what is important is continuing the heightened reform momentum compared to the slow 2007-2015 period.

When the heightened pace of private-company listings, and the continuing trend towards liberalised foreign ownership limits are also taken into account, the whole package burnishes Vietnam's credentials for being upgraded to emerging market status by index-makers MSCI. A potential inclusion in the MSCI Emerging Markets Index is currently indeed subject to a lively debate among market pundits whilst the exact timeline remains unclear.

For more information please contact:

 
VietNam Holding Asset Management   Tel: +41 43 500 
 Limited                                     28 10 
Investor Relations 
 Gyentsen Zatul 
 investorrelations@vnham.com 
 www.vietnamholding.com 
 
Smith & Williamson Corporate      Tel: +44 20 7131 
 Finance Limited Nominated                    4000 
 Adviser 
Azhic Basirov / Ben Jeynes 
 
Winterflood Investment Trusts     Tel: +44 20 3100 
 Broker                                       0000 
Joe Winkley / Neil Langford 
 
Buchanan Communications           Tel: +44 20 7466 
 Financial Public Relations                   5000 
Charles Ryland / Vicky Hayns

This information is provided by RNS

The company news service from the London Stock Exchange

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April 19, 2017 12:30 ET (16:30 GMT)

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