HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 20 October 2026 – Sovico Group, one of Vietnam's leading private conglomerates, and the Free and Hanseatic City of Hamburg signed a Partnership Agreement at Saigon Marina IFC to expand cooperation in aviation, railways, finance, logistics, technology and education. The agreement aims to connect Vietnamese businesses with Hamburg's industrial and commercial ecosystem and its role as a gateway to European markets.
Sovico Group and the Free and Hanseatic City of Hamburg, sign a Partnership Agreement on October 13 to expand cooperation in aviation, railways, finance, logistics, technology and education.
Earlier that day, Hamburg First Mayor and President of the Senate Peter Tschentscher met Sovico Chairwoman Nguyen Thi Phuong Thao at HDBank's headquarters to discuss cooperation opportunities between businesses in the Sovico ecosystem and German partners.
At the Hamburg–Sovico Strategic Business & Partnership Forum 2026 on October 13, Thao proposed exploring direct air links between Vietnam and Germany and advancing discussions on airport infrastructure, logistics, urban rail, maritime transport and supporting industries. Hamburg highlighted its strengths in aviation, maritime transport, railways, technology research, public transport and sustainable urban development.
Potential areas for further discussion include the Long Thanh and Gia Binh airport projects, high-speed rail, urban rail development in Ho Chi Minh City, Dong Nai and Hanoi, smart cities, green industries and technology. The agreement provides a framework for exploring opportunities; participation in individual projects will require further study and subsequent agreements.
Sovico and its partners have maintained ties with Germany for more than three decades, particularly in aviation and finance. Hamburg has hosted the handover of more than 100 Airbus aircraft to Vietjet, alongside aircraft-financing services. In finance, DEG, a member of Germany's KfW Group, has invested in HDBank over the past five years. HDBank's German Desk also helps connect Vietnamese and German businesses and support bilateral trade and investment.
Thao said Sovico was entering a new investment phase, emphasizing the need for long-term vision, practical investment plans and effective coordination. "I hope the ideas exchanged here today will be translated into cooperation programmes, feasible projects and measurable outcomes," she said.
Hamburg State Secretary Liv Assmann said the visit aimed to deepen existing ties and explore new areas of cooperation. Agreements between universities in Hamburg and Vietnam are also expected to create opportunities for training, professional exchange and workforce development.
Hashtag: #HDBank
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Proposed transaction will strengthen collaboration between WRISE and IFCG across technology, knowledge-sharing and regional connectivity
HONG KONG SAR/SINGAPORE/BANGKOK, THAILAND/BEIJING, CHINA – Media OutReach Newswire – 20 October 2026 – WRISE Group ("WRISE"), an independent wealth management group, today announced the acquisition of a 20% stake in IFCG Public Company Limited ("IFCG"), subject to regulatory approvals and other customary closing conditions.
The proposed transaction deepens the existing strategic alliance between the two firms and represents a strategic investment by WRISE in one of Asia's fastest-developing wealth markets. It reflects WRISE's broader strategy of investing in established businesses with strong local expertise and supporting their continued development through technology, knowledge-sharing and regional connectivity.
Thai high-net-worth individuals, entrepreneurs and families have increasingly sophisticated wealth needs and are seeking more comprehensive solutions and greater connectivity with regional and global markets. IFCG is well positioned to respond to these evolving needs through its established local presence, market expertise and network of more than 400 advisors.
Following completion of the transaction, IFCG intends to explore the progressive adoption of WRISE's technology capabilities, including WAIOS, WRISE's AI operating system for advisors, to support the continued development of its advisor capabilities.
IFCG will continue to lead its advisory and distribution activities in Thailand, supported by its local expertise and established client relationships. WRISE and IFCG will also explore opportunities for deeper technology collaboration, knowledge-sharing and connectivity across regional markets.
Derrick Tan, Group Chief Executive Officer of WRISE Group, said:
"Thailand is a strategically important wealth market in Asia, supported by a growing community of high-net-worth individuals, entrepreneurs and families with increasingly sophisticated needs. This proposed investment takes our partnership with IFCG to the next level and reflects our confidence in IFCG's local expertise, established advisor network and long-term growth potential.
"Through this deeper relationship, we look forward to supporting IFCG's continued development through technology, knowledge-sharing and greater regional connectivity. It reflects WRISE's approach to technology: Human-led, AI-scaled."
Withoon Lertpanomwan, Chief Executive Officer of IFCG Public Company Limited, said:
"This proposed investment represents an important milestone for IFCG and a further deepening of our strategic relationship with WRISE. WRISE's technology capabilities and regional expertise will support the continued development of our advisor capabilities and strengthen our ability to respond to the evolving needs of clients.
"We see this as a strong foundation for IFCG's next phase of growth and for the continued development of Thailand's wealth management industry."
The transaction is expected to be completed by the end of Q4 2026, subject to regulatory approvals and the fulfilment of other customary closing conditions.
Hashtag: #WRISE
The issuer is solely responsible for the content of this announcement.
About WRISE
WRISE is one of Asia's fastest-growing financial firms, driven by strategic acquisitions of companies with deep expertise and solid foundations. With a strong presence across key financial hubs including Singapore, Hong Kong, Dubai, Tokyo, Shanghai, Shenzhen, Changsha, Chengdu, Wuxi, Taipei and Vancouver, WRISE is home to one of the largest networks of independent qualified advisors. With over 600 employees located globally, supported by an ecosystem of over 200 financial intermediaries and access to eight booking centres worldwide, WRISE ensures unparalleled service and expertise in navigating today's financial landscape.
WRISE Group of companies include WRISE Wealth Management (Singapore), WRISE Wealth Management (Hong Kong), WRISE Wealth Management Middle East Ltd (DIFC, regulated by the DFSA), WRISE Prestige (Hong Kong), WRISE Prestige Securities (Hong Kong), WRISE Prestige Asset Management (Hong Kong), WRISE Capital (Hong Kong), WRISE Financial Services (Hong Kong), and affiliates including WeWrise Services.
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