The Bank for Foreign Trade of Viet Nam (Vietcombank) has joined a strategic partnership with UBS Global Asset Management of Switzerland.
The agreement on cooperation in asset management, inked in Ha Noi on April 2, is expected to facilitate Vietnamese investment abroad.
UBS Global Asset Management President and CEO John Fraser said that Vietnamese individuals, businesses and organisations will be able to make investment in other markets through Vietcombank in various forms of bonds, shares or mandatory investment.
He also said Viet Nam is the 25th country that his company has chosen for cooperation in asset management, citing reasons for its choice as Viet Nam's improved role in the Asia-Pacific region as well as the country's more open and transparent policies.
Vietcombank will become an exclusive agent of UBS Asset Management in Viet Nam and will be assisted in personnel training and technology transfer related to asset management field.
An official from the Ministry of Planning and Investment (MPI) also said the cooperation will help boost services related to property management in Viet Nam. According to Phan Huu Thang, head of the MPI's Foreign Investment Department, with the surging of the economy and the stock market, a "golden chance" for the service will come in near future.
Source: VNA mekong capital equity vinacapital
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