Three foreign securities trading companies have won licenses to open their representative offices in Vietnam where the growing local stock market is now inviting to foreign institutions.
A source from the State Securities Commission (SSC) said that Nomura International Limited of Hong Kong and Mirae Asset Maps Investment Management Co., Ltd of South Korea will set up their rep offices in Hanoi, while Blackhorse Asset Management Pte Ltd of Singapore will open its office in Ho Chi Minh City.
All these three offices have an operational duration of five years.
The presence of these securities traders is showing the more and more interest of foreign investors in Vietnam’s securities market, a local newspaper said.
In earlier August, the world’s leading investment firm Merrill Lynch also got a securities trading code, a first step to prepare for its entry into Vietnam.
In addition, Pheim Asean Emerging Companies Growth Fund, the most effective fund in investing in small and medium enterprises in Southeast Asia, is planning to enter the market shortly.
Dominic Scriven, director of the British’s fund management company, Dragon Capital, has once forecast that Vietnam could attract $500 million of indirect foreign investment (FII) capital within this year, which is equivalent to one third of total FII in the country so far.
Vietnam is expected to see a big flow of FII via various channels, likely the third FII wave, as the country will soon join the World Trade Organization (WTO).
Vietnam’s national stock exchange now houses 49 corporate stocks with listed value of VND7.92 trillion ($498 million) and market capitalization of about VND50.5 trillion ($3.2 billion).
In addition, more than 370 kinds of bonds are listed with total value of over VND55 trillion ($3.5 billion).
(Source: Local news agencies)
Vietnamese
