Call for investment in securities market

Trade Minister Truong Dinh Tuyen called on Hong Kong businesspeople to invest in the Vietnamese securities market, affirming that the Vietnamese Government, at present, has no intentions to use administrative measures to control the market.

The Trade Minister made the remarks at the seminar entitled " Viet Nam : a new dynamo in Southeast Asia" jointly organised by the Hong Kong Trade Development Council and the Vietnamese consulate general in Hong Kong on Mar. 13. The seminar brought together 400 local businesspeople.

He told Hong Kong businesspeople that their indirect investment into the Vietnamese securities market will be no more than 49% but the rate will be increased gradually five years after they join the market.

Regarding the banking industry, Minister Tuyen affirmed that foreign investors will be treated like local investors, being permitted to buy less than 10% of shares issued by a local bank.
The minister also spoke of the possibility of employing several measures to help the securities markets avoid 'bubble' development and risks.

These measures include standardising criterion required for the participants in the securities market; gradually limiting informal markets, such as OTC, while at the same time listing more companies in the official market.
Investors are encouraged to study operation of listed companies so as they can make right decisions.

Source: VNA