Many Vietnamese enterprises expecting more growth this year as foreign investment increases.

In the last five years, many domestic companies have sold their controlling shares to foreign companies, with perhaps the most high-profile sale being that of the brand Highlands Coffee to the Philippines’ Jollibee Foods Corporation. The Thai building materials firm, Siam Cement also acquired an 85% stake in Prime Group, one of Vietnam's largest brick-makers.

Recently the Vietnam Commercial Bank for Industry and Trade (VietinBank) sold 20% of its stake to the Bank of Tokyo-Mitsubishi UFJ at the price of USD750 million. This acquisition was limited because Vietnam law only allows foreign partners in Vietnamese credit institutions to hold a maximum of 20% stake.

A number of Vietnamese experts have warned that, while foreign investment is important for the country's economic development, that many foreign groups seek to take control over Vietnamese companies. They have said that domestic firms should be aware of this and balance the need to attract foreign capital with the importance of retaining control.

Over the last six months, a number of private foreign investment deals have taken place which allow the domestic firms to keep control. KKR & Co., the private equity giant has invested an additional USD200 million in the Vietnamese retailer Masan Consumer.

Another US private-equity giant Texas Pacific Group (TPG) is going to organise a limited partners conference in Hanoi. This is the first time this conference will be held outside of the US, creating optimism among the business community here.

The return of foreign private capital has been taken by many as a sign of recovery in the Vietnamese economy. For many firms, this is an important source of capital as banks tighten credit.