Vietnam Opens Conference on Capital Market Development

Vietnam’s Ministry of Finance and the EuroEvents Organisation co-organized an international seminar in Hanoi yesterday to seek measures to develop Vietnam's capital markets.

 

The two-day event will discuss ways to build a transparent and efficient capital market.

 

Addressing the conference, Finance Minister Vu Van Ninh said that Vietnam's capital market and stock exchange have progressed considerably in recent years, becoming long-term capital raising channels for the economy.

 

In the near future, the ministry will continue to cooperate with ministries and agencies in order to improve legal framework towards opening the market and following the country’s commitments to WTO.

 

However, the stock exchange bears various risks and it is necessary to take appropriate and effective measures to adjust it, making it a transparent, efficient and safe market, Ninh said.

 

During the seminar, the participants shared their experiences in creating a healthy capital market after Vietnam joined the WTO.

 

WB country director Klaus Rohland said Vietnam’s economy is growing fast so the country needs to seek appropriate measures to manage risks in next five years.

 

He suggested that Vietnam should seek a suitable framework for economy reform so that the international community could support the country to develop financial market in both short term and long term.

 

The participants also discussed measures to attract investment capital through reforming the economy, financial system, banks and non-bank financial institutions in addition to issues related to securities market, policies to encourage indirect investment, and international investment funds. (VNA, Vietnam Economic Times)