The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Asia market round up: Morgan Stanley ventures into Vietnam

In March, Morgan Stanley became the latest bulge-bracket firm to enter the increasingly crowded Vietnam securities market.

It signed a joint venture with the State Capital Investment Corporation, a strategic investment arm of the Vietnam government, to establish a securities firm that will conduct securities trading and investment banking.

SCIC, Morgan Stanley and staff will jointly own the joint venture, which will be called SCIC Morgan Stanley, although exact shareholdings have not been disclosed. That might yet prove to be relevant. Morgan Stanley was quick to establish a joint venture securities firm in China years ahead of the competition, only for its influence to diminish rapidly because it had a minority shareholding.

Morgan Stanley made much of its exclusive position as foreign equity partner in the new firm and some market observers in Vietnam noted that the firm had indeed secured a valuable partner in SCIC. Others were not so convinced; noting that SCIC might well cut further deals with other foreign partners in separate ventures.

"SCIC will do deals with anyone," said a fund manager based in Saigon. "Plus the firm still needs to get its licences. I wouldn’t get too excited just yet."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree