Guernsey-based PPF Partners has held talks with the Vietnamese
Prime Minister while visiting the country to explore ways of
growing its business.
Director Mel Carvill met with Prime Minister Nguyen Tan Dung in
Hanoi, the capital and second largest city in Vietnam.
Private equity firm PPF Partners – a joint venture
between Generali and the PPF Group – has investments in
the region including the market-leading consumer credit business
which finances motorcycles, the transport of choice for the
Vietnamese, and a major cement factory near the capital.
Mr Carvill said: "More than three million motorcycles are
sold in Vietnam each year and this figure is growing year by year.
Last year only 3% of these 3 million motorcycles was financed and
PPF had a 70% share of this 3% so there is a significant
opportunity for us to further grow that business."
A Communist country, Vietnam has a population of almost 90
million and saw growth of 5.3% in GDP last year. It is a developing
country that in the last three decades has had to recover from the
ravages of war, deal with the loss of financial support from the
old Soviet Bloc and operate within the rigidities of a
Under the renovation policy of 1986, the authorities are
committed to increase economic liberalisation and the enacting of
structural reforms to modernise the economy and produce more
competitive, export-driven industries. Vietnam joined the World
Trade Organisation in 2007 after more than a decade of
"The reception I received was genuinely warm. The Prime
Minister spent 30 minutes explaining how pleased he was and
interested in what PPF is doing in the country," said Mr
"The opportunity to increase our share of the motorcycle
finance market is a big driver for us. It is a huge market and we
have only just scratched the surface."
PPF Partners specialises in investing in the emerging markets of
Central and Eastern Europe. The firm has invested €1.4bn
since launch last year.
Mr Carvill was accompanied in his discussions by both Czech and
senior Vietnamese officials.
PPF Partners is a private equity firm based in Guernsey
investing in Emerging Europe. PPF Partners is owned and backed by
PPF Group, one of the leading financial groups in Central and
Eastern Europe, and Assicurazioni Generali, one of the world's
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