ING establishes corporate finance presence in Vietnam

In the latest investment move in Vietnam, ING Wholesale Banking signs an MOU with Vietcombank Securities to help promote investment banking.
ING Wholesale Banking ING has signed a memorandum of understanding to establish a corporate finance cooperation with Vietcombank Securities Company Ltd VCBS, the securities and investment banking arm of Bank of Foreign Trade of Vietnam Vietcombank, one of the countryÆs five main state-owned banks.

ING will help develop and promote investment banking in the country, having previously provided technical assistance to Vietcombank.

This cooperation comes as Vietnam is seeing burgeoning foreign direct investment and as the country takes large steps towards its acceptance into World Trade Organisation membership, says Nguyen Thi Bich Lien, chief executive officer for VCBS. Although state-owned banks currently control about 70% of the domestic capital market, we recognise...
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