AFG launches Sky Bridge complex in New Capital    Dahab Development opens reservation for ITC project at New Capital    Egypt is Canada's top trading partner in Africa: Ambassador Louis Dumas    Hope Givers Foundation honours Egyptologist Ali Abu Dashish    EJB forms new board, pledges to support national economy    Travel bans due to Omicron "hammer blow" to South Africa's local economy recovery: official    Egypt celebrates Day of Mediterranean    MICO entertainment platform enters Egyptian market    Health Ministry advises public to adhere to protective measures to tackle Omicron variant    Art D'Egypte concludes 4th contemporary art exhibition "Forever is Now" at Giza Plateau    Austrian Cultural Forum in Cairo to launch exhibition highlighting Arab-Austrian ties    Egypt, Israel sign deal sign MoU to increase gas supplies, hydrogen transport    Egypt's stocks end week in green as benchmark EWX 30 surges 0.69%    Mortada Mansour sets road map for Zamalek, after normalization committee depart    I seek to secure stable financial sources to build strong judo team: Motei Fakhr El-Din    Egyptian karate players dazzle world in UAE    Orascom Construction joins consortium to develop Egypt's first green hydrogen production facility    Egypt's high committee to organise COP27 convenes to review preparations    98 potential candidates run for Libyan presidency    'Lake Victoria – Mediterranean' navigation corridor awaits feasibility studies, funds: official    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Palestine's Foreign Ministry rejects UK's decision to designate Hamas as terror group    Egypt selected to host COP27 international climate conference in 2022    Number of British tourists to Egypt seen hitting 500,000 this winter – envoy    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt, Greece ink deal for first subsea power link between Europe and Africa    SCOHRE sparks discussion on harm reduction, tobacco control    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    Brazil calls up 8 EPL players for World Cup qualifying    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EFG Hermes, Vietnam's ACBS sign partnership agreement
Partnership provides clients access to Hanoi Stock Exchange, Ho Chi Minh City Exchange, UPCOM, says Khalpey
Daily News Egypt Published in Daily News Egypt on 21 - 05 - 2019

EFG Hermes, a leading financial services corporation in frontier emerging markets (FEM), signed a partnership agreement with Asia Commercial Bank Securities (ACBS) of Vietnam, the securities trading arm of Asia Commercial Bank (ACB), on Monday.
Under the agreement, EFG Hermes' clients will receive on-ground access and intelligence to trade the Hanoi stock exchange, Ho Chi Minh City Exchange, and UPCOM, some of Asia's most compelling capital markets.
"The new partnership is yet another manifestation of our strategy to widen our geographic footprint and identify new opportunities. While the past two years witnessed rapid expansion in African and Asian frontier markets with offices launched in Pakistan, Bangladesh, Nigeria, and Kenya, we are now entering Southeast Asia to complete our FEM setup. Through our partnership with ACBS, one of the country's leading brokerage providers, EFG Hermes is now the first FEM investment bank to establish an on-the-ground presence in Vietnam, an increasingly important destination for global investors given the size of the market and its liquidity," said Ali Khalpey, CEO of EFG Hermes Frontier.
Furthermore, Khalpey explained that the partnership will provide EFG Hermes' clients access to the Hanoi Stock Exchange, Ho Chi Minh City Exchange, and UPCOM using ACBS' platform.
On the other hand, Kato Mukuru, head of Frontier Markets Research at EFG Hermes, said that the firm is intensifying their involvement in Vietnam at a highly opportune moment, adding that the country's dynamic export-oriented manufacturing sector is seeing considerable gains as more multinationals seek to relocate production away from China and toward Vietnam.
"This continuing shift comes against a backdrop of exchange rate stability and consistently rapid economic growth, which registered 6.79% in the first quarter of 2019, Vietnam's second-strongest first quarter growth rate since 2009. Vietnam is seeing remarkable growth in exports, manufacturing, and foreign investment, while domestic demand remains robust as the middle class forms an ever-larger share of its 95 million-strong population," he revealed.
Trinh Thanh Can, CEO of ACBS explained that the bank will work to ensure that this mutually beneficial partnership allows them to leverage EFG Hermes' institutional heft, global network of clients, and capability to create lasting value, while furthering the institutionalisation of Vietnam's capital markets.

Clic here to read the story from its source.