Tin mới
Nation aims to raise stock market-sourced capital (04/06)
06/08/2010 - 228 Lượt xem
Creating a comprehensive and close legal framework on the securities market that conforms to Vietnam's current development and integration situation, especially when the country is expected to join the World Trade Organisation (WTO) soon, is considered the first and foremost step. The forthcoming promulgation of the Securities Law, which is currently being discussed by the National Assembly, is expected to bring about a turning-point in this aspect.
The second step focuses on re-organising the financial system, with attention paid to issue of government debt tools and equitisation of State-owned and foreign-invested enterprises. Intermediate financial institutions will be also re-organised in the direction of abolishing subsidies and creating favourable conditions for them to act as bridges between capital suppliers and seekers.
Another step that has attracted concern from domestic and foreign investors is publicising information and managing companies under best practices. The move is compulsory for not only organisations participating in the stock market but for all businesses and economic establishments in Vietnam.
Besides, the SSC has also implemented solutions to improve the quality of human resources, raise people's and investors' awareness about the securities market, and risks and preventive measures, and enhance their capacity for analysis of changes in the securities market.
The commission revealed that from July 2000 - which marked the debut of the Vietnamese stock market with the inauguration of the Ho Chi Minh City Securities Trading Centre - to late 2005, 31 companies were listed. During the period, the stock market mobilised a total of 44.6 trillion VND (roughly 2.8 billion USD), representing 6.9% of the country's GDP, of which 1% was contributed by the equity market and the remainder by the bond market.
In July 2005, the Hanoi Securities Trading Centre was set up and began operating a system to auction stocks of State-owned enterprises under equitisation.
Source:
VNA
