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VN investment companies urge better management
Companies seeking capital from investment fund firms must improve their managerial capacity, business leaders said yesterday during a meeting at HCM City’s Majestic Hotel.
Don Lam, CEO of VinaCapital, said ineffective managers must be replaced with individuals who are qualified and highly skilled.
Problems occur, however, when a family company feels reluctant to fire relatives in high positions, he said.
In addition, many company leaders do not hire talented people because they fear they will take their position.
VinaCapital, one of the largest investment funds in Viet Nam, said it would help businesses increase managerial capacity if the companies have the potential to be among the top three in their product lines.
Lam said the company had invested in Kinh Do Corporation, Cofico Construction and Massan Trading because of their strengths.
Also speaking at the seminar were Leading Businesses Club (LBC) experts, including Pham Phu Ngoc Trai.
He said three requirements needed to access capital were the capacity to absorb capital, the know-how of capital management and improved competitive capacity.
Vu Kim Hanh of the LBC, the meeting organiser, said the dialogue would be open in the future for more businesses and SMEs to help them access capital funds.
The meeting was attended by 51 members of the LBC and Vietnamese High-Quality Goods Club, as well as five new enterprises and other investment funds.
vietnamnews
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