Finding the Way-out to Export Securities

 

To help make breakthroughs for enterprises, the World and Vietnam Newspaper, the communication agency of Ministry of Foreign Affairs, has an initiative to cooperate with the SSC, Singaporean Securities Committee and the Embassy of Vietnam in Singapore to hold a two-round international workshop on listing/offering stocks of Vietnamese enterprises on the overseas markets in mid-November, 2008. This is a step to pave the way for businesses and Government to solve the issue of exporting securities, managing capital efficiently and promoting brand names.

 

According to the SSC there are some enterprises like Vinamilk, or Vincom submitting documents for international listing. However, the number is so small because they even do not know if they can meet the international standards or not. They also do not have any understanding of standards relating to international listing, technical and legal conditions and many other regulations when joining an international playground.

 

“The international workshop on listing stocks of Vietnamese businesses abroad will draw attentions from related agencies, financial institutions, and Vietnamese enterprises as they will be able to access foreign investment capital. This is also a step to prepare and learn advanced management methods from developed markets like Singapore. The SSC is drafting a regulation on listing/offering stocks abroad to fill the policy gap as well as to help enterprises legal bases when exporting stocks”, said Nguyen Ngoc Canh, SSC’s Director of International Cooperation Board.

 

To share the viewpoints, Vu Son Thuy, Editor General of the World and Vietnam Newspaper and Standing Deputy Chairman of the Organisation Committee, said “Organising this workshop is necessary though the global and local stock markets are facing many difficulties. To go listing on international markets and wait for stock markets to rebound, the Government, the SSC and functional agencies, particularly businesses, should equip themselves with international experiences, legal regulations and technical conditions essential for overseas stock listing/offering”.

 

Vietnamese potential enterprises, which already or are nurturing the intention of writing their names on the electronic screen at international stock exchanges, should never skip the opportunity of conducting field experiment to learn precious experiences in the coming workshop held in Singapore.

 

Many surveys show that the Singaporean Stock Exchange (SGX) is a medium-level exchange but highly internationalised, using English, connecting with other international exchanges, and having the same time zone with Vietnam. Moreover, it also wants to be a regional stock centre. Listing on this exchange is a great chance for Vietnamese enterprises. Additionally, SSC has signed with SGX a cooperation agreement on mutual stock trading connection. Lawrence Wong, Vice Managing Director of SGX, said we would like to help Vietnamese businesses to understand foreign investors’ expectation in order to get adapted to listing in Singapore.”

 

All issues raised by businesses and Government will be solved at the workshop. The first round will be held on November 12, 2008 in Hanoi, an opportunity for Vietnamese enterprises to propose solutions to improve policies, for Vietnam Government, ministries, branches and related organisations to help businesses address legal problems and trading difficulties and learn lessons from countries of similar transition size and economic situation like the Czech Republic. The second round in Singapore will take place in two days from November 17 to 18, 2008. Besides, there is a partner exchange programme between enterprises of the two countries with the support of Singapore Enterprise Association. Vietnamese businesses will have chances to learn policies and listing procedures, and visit the SGX – an Asian leading stock exchange, and directly meet with potential partners and investors.

 

The organisation committee said that the workshop would receive the atattendance of Governments of Vietnam and Singapore, international banks, financial investment funds, stock brokerage companies, law consultants and more than 100 Vietnamese and Singaporean companies.