06:24 (GMT +7) - Tuesday 16/10/2018

Vietnam Today

US conference to promote stock market

Released at: 15:09, 30/06/2015

US conference to promote stock market

New York gathering comes as Vietnam eases restrictions on foreign ownership in listed companies.

by Tran Minh

The “My Vietnam - Your Investment Destination" conference is to be held in New York from July 1 to July 5 to promote investment in Vietnam.

The conference in being organized by the State Securities Commission (SCC) of Vietnam but the Ministry of Finance will join it in presenting new policies to help Vietnam’s securities market reach international expectations.

Decree No. 60, issued last week, allows foreign investors to raise their stakes in publicly-listed Vietnamese companies.

The government has also issued other policies to cut transaction times and allow traders to settle trading activities within the day.

The conference is expected to help increase confidence among US businesses and investors in Vietnam’s securities market.

Vietnam also hopes to develop comprehensive financial cooperation between the two countries through the conference.

According to the SSC, 600 US investors hold stakes in Vietnam’s securities market but only mid-cap and small-cap shares.

To draw bigger investors the government has been working to upgrade the country’s stock markets to meet international standards and modernize.

The conference will feature two parts. The first will concern securities policies between Vietnamese representatives and US investors and companies, to collect feedback from the US side.

In the second part companies will discuss their experience and the opportunities in operating in Vietnam’s financial market.

Some major local companies, including the State Capital and Investment Company (SCIC), Vietnam National Shipping Lines (Vinalines), and the Vietnam National Coal-Mineral Industries Group (Vinacomin), together with about 100 US investment funds and companies, will attend the conference.

User comment (0)

Send comment