International financial institutions learn about Vietnamese market
A delegation of representatives from 14 international financial institutions led by Maybank Investment Banking Group (MIBG) recently visited Vietnam to learn about the local market, according to the Vietnam Chamber of Commerce and Industry (VCCI).
The two sides discussed investment potential of the Vietnamese market, especially the financial and business environment of small- and medium-sized enterprises (SMEs) or startups, where Maybank and other investment funds have strengths.
The MIBG is the largest financial and banking group in Malaysia and the fourth largest in ASEAN, with total assets of more than US$200 billion.
Nguyen Manh Dung, head of institutional equities sales at Maybank, said that in Vietnam, the lender has been providing banking and securities services since 1996, and has also invested in and become a strategic shareholder of An Binh Commercial Joint Stock Bank since 2008. In addition, the group has been a credit partner of numerous domestic companies and corporations, typically Vingroup, Hoa Phat or Thaco.
The delegation also included representatives from other investment funds of Malaysia like LTH and KWAP, Thailand’s SCBAM and Asset Plus, Japan’s Nomura Asset Management, and Haitong International of China’s Hong Kong.
VCCI Vice President Nguyen Quang Vinh said that many corporations have been interested in and committed to investing in Vietnam which boasts a population of 100 million, an abundant young workforce, a stable socio-political environment, and important investment attraction policies of the State, in such fields as semiconductor, high-tech manufacturing, and clean energy.
In addition, Vietnam also has fundamental strengths in infrastructure and human resources, and its Government has issued strategies to pursue new fields such as technology, semiconductor, green economy, clean energy and startup investment, he added.
