Vietnam Wealth Management Forum 2019 - Highlights - Bao Nguyen

Bao Nguyen of GoBear

Sep 19, 2019

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1. What are the challenges and opportunities for this industry?

Video transcript

1. What are the challenges and opportunities for this industry?

One of the key challenges as we discussed earlier this morning is financial education. It's making sure that people understand what they're buying. I think right now people, when they get into capital markets, they think of it still as a bit of a gamble, a bit of game, gamifying it. So ,I think if we can educate people that this is a long-term investment, 7, 8, 9, 10 years, I think that would go a long way, number one. Number two, opening up for the banks, for the private banks to come in and offer products and services as, quite frankly, Vietnamese products are not as sophisticated as other markets. So, I think that would help. But I think one of the things that is a challenge for the private banks as they come in is: can they compete with the high interest rates that are offered here, up to 8%? I think it's challenging, whether it's equity or a corporate bond.

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