Chinese investors are eyeing Vietnam, says VinaCapital

Last year wasn't great for Vietnamese stocks, as Don Lam and Katherine Yip-Geicke readily concede. But the co-founders of Ho Chi Minh City-based asset manager VinaCapital are optimistic about a market with a price-to-earnings ratio of 9.5 times and World Bank-projected GDP growth of 6.5-7.5% until 2015. The latter figure is impressive but not stand-out for Southeast Asia, yet the former suggests the Vietnamese stock market could be ripe for entry, as set against a P/E of 14 times in…