Vietnam Boosts Overseas Listing amid Global Financial Turmoil
The State Securities Commission of Vietnam and the Singapore Stock Exchange Nov 12 held the first round a seminar on boosting international listings for Vietnamese firms in the presence of Deputy Prime Minister-Foreign Minister Pham Gia Khiem in Hanoi.
"Strategy to gain access to foreign capital sources is aimed at diversifying capital sources for local firms, the government of Vietnam will support overseas listings of the local firms while continuing selling shares in state-owned enterprises," Deputy PM-FM Khiem said.
Vu Bang, SSC's chairman said so far there have been no Vietnamese firms listing their shares abroad due to differed accounting standards.
The Ministry of Finance is process of completion of legal framework designed for overseas listings.
At the seminar, domestic and foreign firms discussed issues relating to overseas listings, exchanged experience in listing in Singapore, Czech and China.
Recently, Vietnam's leading milk producer, Vinamilk received approval to list 8.76 million shares on Singapore Exchange. It said that it will choose appropriate time for listing.
The second round of the seminar will be held in Singapore Nov 17 and 18. (Saigon Liberation, New Hanoi)
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