Morgan Stanley And State Capital Investment Corporation To Open Securities Firm In Vietnam

Morgan Stanley and Vietnam's State Capital Investment Corporation (SCIC) are to establish a securities firm in Vietnam. The two partners will hold the equity in the joint venture together with staff. The venture, which will be based in Hanoi and

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Morgan Stanley and Vietnam’s State Capital Investment Corporation (SCIC) are to establish a securities firm in Vietnam. The two partners will hold the equity in the joint venture together with staff. The venture, which will be based in Hanoi and operate under the name of SCIC Morgan Stanley Securities, will shortly apply for appropriate domestic licenses and expects to start operations in the fourth quarter of 2007.

Subject to applicable laws and licenses, the platform will conduct a broad range of securities services including investment banking products such as M&A advisory and capital markets underwriting, equity and debt sales and trading and equity and fixed income research, investment advisory, proprietary investment and custody services.

“Vietnam is important to our emerging market growth strategy,” says John J. Mack, the Chairman and CEO of Morgan Stanley. “Morgan Stanley has a successful track record making long-term commitments to new markets. Working alongside SCIC, we look forward to contributing to the development of Vietnam’s capital markets and the country’s long term economic growth.”

“We acknowledge and appreciate the expertise and overwhelming strength of Morgan Stanley in the field of investment banking,” adds Le Thi Bang Tam, the Chairwoman of SCIC. “We have great confidence in the success of this Joint Venture and believe that the MOU will lay solid foundations for the establishment of the first local investment bank in Vietnam.”

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