CICC Eyes Expansion in Southeast Asia Amid Growing Market Opportunities

China International Capital Corp (CICC) is scouting for strategic opportunities for Chinese corporate clients in Vietnam while planning to obtain an investment licence in Indonesia. The bank aims to further expand in Southeast Asia, with potential offices in Indonesia and Malaysia, reflecting the region's economic growth and investment appeal.

China International Capital Corp (CICC) is looking to capture more strategic opportunities for Chinese corporate clients in Vietnam, according to Stephen Ng, the bank's head of Southeast Asia and Singapore CEO, who spoke on Tuesday.

Ng also revealed that CICC is seeking an investment licence in Indonesia. Speaking at the Reuters NEXT forum in Singapore, he highlighted the bank's plans to broaden its footprint in Southeast Asia by opening offices in countries such as Indonesia and Malaysia. Reuters reported last week that these moves are part of CICC's strategy to tap into the fast-growing economies in the region.

In June, the state-owned bank expanded its presence in Southeast Asia by setting up a representative office in Vietnam. On the same panel, Khanh Vu, deputy managing director of VinaCapital Fund Management, noted that Vietnam is becoming increasingly attractive to overseas investors.

(With inputs from agencies.)