Vietnam’s stock market attractive to US investors
| 09:05' 28/06/2007 (GMT+7) | ||
Could you reveal some information about the cooperation direction of HOSE and NYSE and the meaning of the MoU signed during the visit to the stock market of Vietnam?
The visit by President Nguyen Minh Triet to the US was very successful, in economic cooperation in general and in the field of securities in particular.
The NYSE Vice Chairman highly praised Vietnam’s efforts in developing the stock market and expressed his great interest in the Vietnamese stock market.
Through the signing of the MoU between HOSE and NYSE, the US side wants to participate in opportunities of reforming and developing HOSE in the coming time and the listing between the two markets.
The MoU is a significant foundation for future cooperation in three areas: supporting and sharing experience on developing the stock market, training assistance, information sharing, market connection to better control the market and better supervise inter-national transactions, etc.
Before signing this MoU, NYSE representatives came to Vietnam to meet with representatives of HOSE and SSC and they expressed their desire to develop a strategic partnership with us. They also emphasised that currently they had only one strategic partner in Asia, the Japan Stock Exchange. It shows how great their interest is in the Vietnamese stock market.
We welcomed their goodwill and the two sides will discuss detailed cooperation plans. NYSE said that they would send representatives to Vietnam to further negotiate.
The Hanoi Securities Trading Centre (HASTC) planned to sign an MoU with NASDAQ but the plan changed at the last minute. Why?
The cooperation plan between HASTC and NASDAQ was promoted later than the one between HOSE and NYSE. The cooperation between HOSE and NYSE was based on the visit to Vietnam by President Bush last November. After that leaders instructed the two sides to discuss details.
Actually, the content of the cooperation between HASTC and NASDAQ is much more detailed than the one between HOSE and NYSE so they need more time for preparation. NASDAQ said that it would send representatives to Vietnam to promote the cooperation plan.
You attended Vietnamese investment forums in the US. What do you see regarding US businesses’ interests in business opportunities in Vietnam and in the stock market in particular?
US investors are paying a lot of attention to business opportunities in Vietnam, which is seen through the large numbers of investors attending investment forums. Among them were senior officials of big groups, international investment organisations, investment banks, and securities trading companies. They welcomed Vietnam’s message of stronger economic cooperation between Vietnam and the US.
There ought to have been a separate meeting between the SSC with American investment banks and securities trading companies following the proposal of large US groups. However, this meeting couldn’t be organised due to technical problems such as security and organisation. I regret that because it would have been an opportunity to access large groups of the world.
In general, through investment forums, I saw the great attention of US businesses towards opportunities in Vietnam, and the potentials for cooperation in the stock market are very promising.
We have lost a good chance to advertise the Vietnamese stock market. Will the SSC organise similar forums?
We have not made any detailed plan to organise such a separate meeting abroad because of various reasons. However, the SSC is talking with Vietnamese embassies abroad to organise forums on portfolio investment to draw capital flows of international investment funds.
So far we have attached importance to holding conferences to call for direct investment. The flow of portfolio investment running into Vietnam in recent years has been strong, around $5 billion, including over $1 billion so far this year.
(Source: Viet Nam Net) |
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