Global Financial Institutions Eye Investment Opportunities in Vietnam

Wed, 06 Mar 2024 17:03:00  |  Print  |  Email   Share:

On February 23, 2024, Nguyen Quang Vinh, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), received a delegation comprising 14 financial institutions from six nations led by Maybank Investment Banking Group (MIBG).

VCCI Vice President Nguyen Quang Vinh chairs a working session with 14 financial institutions from six countries led by Maybank Investment Banking Group

During the meeting, MIBG and other financial entities conveyed their admiration for Vietnam's economic growth and expressed an interest in expanding investment and fostering collaboration with localities and enterprises in the coming time.

Mr. Nguyen Manh Dung, Director of MIBG Institutional Customers, articulated Maybank's proposition to join forces with VCCI, facilitating investment fund excursions to explore and promote local investment initiatives under VCCI's guidance.

VCCI Vice President Nguyen Quang Vinh delineated the Vietnamese market's potential and highlighted its open investment policies. Economically, Vietnam boasted a GDP of US$430 billion in 2023, securing 34th position globally. With a commendable 5.05% year-on-year GDP growth, Vietnam showcased a positive economic performance in the region, maintaining a trade surplus of US$28 billion in 2023, doubling the 2022 figure.

In the realm of investment, many international leading corporations expressed commitment to various important sectors in Vietnam, including semiconductors, high-tech manufacturing, and clean energy. In 2023, Vietnam witnessed a 6.2% increase in total realized investment capital, reaching VND3,423.5 trillion (US$147 billion), with nearly US$20.19 billion newly registered capital invested in 3,188 projects - an impressive year-on-year surge of 62.2% in value and 56.6% in projects.

Vinh enlightened investors about Vietnam's advantages that align closely with the requirements of foreign investors, emphasizing factors such as a plentiful young labor force, modern and comprehensive infrastructure investments, sustainable development priorities, environmental protection, and a dedicated focus on startup investments.

In the role as a representative of Vietnam's business community, entrepreneurs, employers and business associations, VCCI pledged support to investors, providing market information and promoting effective investment and business ventures in Vietnam.

Notably, with assets exceeding US$200 billion, MIBG stands as Malaysia’s largest financial conglomerate and the fourth largest in ASEAN. Since 1996, Maybank has been operating in Vietnam, offering comprehensive banking and securities services. It serves as a strategic investor for An Binh Commercial Joint Stock Bank and a credit partner for several prominent domestic corporations, including Vingroup, Hoa Phat and Thaco.

Investment funds from 14 visiting financial institutions across six countries play an important role as strategic shareholders and executives in many large corporations that have either invested or expressed interest in Vietnam. These institutions include:

SCB AM Asset Management Company and Asset Plus Fund Management Company (Thailand); KWAP Retirement Fund and Lembaga Tabung Haji Investment Fund - LTH (Malaysia); Nomura Asset Management Company, affiliated with Japan’s Nomura Financial Group; Haitong Asset Management Company, affiliated with Haitong Group and Ikaria Group (Hong Kong - China); Holberg Global (Norway); and Aborvitae Asset Management Company (Singapore).

By: Huong Ly, Vietnam Business Forum



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