Daiwa Securities Group Inc. of Japan and Saigon Securities Inc. (SSI) have agreed to begin talks on business cooperation after the Japanese firm acquired a 1.25 percent stake in SSI for US$10.8 million.
Chairman of the SSI Board of Directors and Director General Nguyen Duy Hung said the two partners agreed in a memorandum of understanding signed last week to pave the way for the Japanese firm to expand its presence in Vietnam.
According to the Director General, his company and Daiwa will conduct research studies for joint investment products, organise training courses and Vietnam market presentations in Japan for Japanese investors.
Daiwa Securities SMBC Co. Ltd, a subsidiary of the Daiwa group, has decided to open its representative office in Hanoi.
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