We are delighted to host our 2nd annual event in Vietnam – focused on understanding the longer term potential for wealth management in this fast-growing economy, and how to prepare for it.
With a population fast-approaching 100 million – around half of which is under 30 – it has been rapidly transitioning to a market-based economy. Per capita income has shot up from around USD100 a quarter-of-a-century ago, to over USD2,000 at the end of 2015. And per capita GDP growth has been among the fastest in the world during this period.
For the time being, in the absence of many wealth management products and services that are common in other markets, transaction banking dominates. In fact, only around 30% or so of the population even has a bank account. Trust remains an issue, creating a barrier to how institutions can access Vietnam’s growing wealth.
Further, banks, are not allowed to sell mutual funds unless they have a securities licence. And they are not allowed to offer dual-currency investments. At the same time, with mutual funds only really available to the retail investor base for the last few years, banks yet haven’t developed the processes and expertise to sell them.
To overcome these and many other hurdles, an essential component is education for everyone – from financial institutions to customers – around the basic concepts and practices of wealth management.
This will also depend on the hope that regulation will change, to enable the creation of a wider variety of products.
Against this backdrop, we will host the leading and most exclusive event for senior participants in Retail Banks, Local Asset Management Firms, Insurance Companies and other players interested in the development if wealth management in Vietnam – who can come together to share experiences and insights about the opportunities and challenges ahead.
Key also to the content is providing insights from experts in overseas markets – to understand wealth management, share best practices, review the components of successful businesses.
Park Hyatt Saigon, Ho Chi Minh
2, Công Trường Lam Sơn, Bến Nghé,
Ho Chi Minh City, Ho Chi Minh