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Franklin Templeton plans to invest $3 bln in Vietnam's service sector
By Thanh Nien News -
Mon Hue restaurant chain operated by Huy Vietnam Food Processing Company, one of Franklin Templeton's inventories in Vietnam
US-owned investment manager Franklin Templeton will likely invest US$3 billion in a wide range of Vietnamese companies over the next five years, news website Saigon Times Online reported on Monday.
The company's investment portfolio will include restaurant chains, tourism service providers and logistics companies, CEO Mark Mobius was quoted as saying at a press conference that same day.
Since it came here in 1996, Franklin Templeton has invested over $200 million into local listed companies, including pharmaceutical companies and PetroVietnam's subsidiaries, he said.
The company has also bought into Huy Vietnam Food Processing Company, which operates dining chains such as Pho Ong Hung and Mon Hue with nearly 100 outlets.