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IDG to further invest in Vietnamese businesses

Ha Noi, June 13 (VNA) – Chairman of the International Data Group (IDG) Patrick McGovern was in Viet Nam in early June to open an IDG office in Ha Noi, the second of its kind in Viet Nam.

Granting an interview to the Dau tu (Investment) newspaper on June 10, McGovern said that IDG Venture will focus its investment in the information technology industry, with a total of 100 million USD to be invested in 35 IT businesses. At present, IDG has not directly invested in software producing businesses, but it has given them indirect assistance by offering consultancy on organising managerial boards and on management methods.

In Viet Nam, IDG Venture has contacted almost all software producing businesses. It has recently met with Viet Software, the biggest software producing company in Viet Nam, and has found a major partner for the company. In the future, IDG will continue to promote such support and will make investment in these businesses, McGovern stressed.

According to McGovern, IDG has already invested in four businesses in Viet Nam, and is still receiving many requests for investment from companies. IDG bases its investment on three factors: people, business, and the company’s strategy. Under its plan, IDG Venture has to invest in at least six companies in Viet Nam.

He noted that IDG Venture can increase its investment in Viet Nam to 1 billion USD within 20 years, it is not limited to 100 million USD. This means that businesses that have received investment from IDG will have opportunities to expand, and other businesses will have opportunities to receive investment from IDG Venture.

Concerning Viet Nam’s development and international integration, McGovern said that during the coming visit to the US by Prime Minister Phan Van Khai, IDG will hold a business forum in Boston and invite major US businesses to attend. PM Khai and the Vietnamese business delegation will be the main speakers at the forum.

IDG will strive to make the forum successful, aiming to introduce US businesses to a Viet Nam actively integrating in the international economy and fully prepared to join the WTO.-Enditem