The State Securities Commission (SSC) is expected to finalise a set of new policies this year.
Theseinvolve the expansion of foreign ownership, listing shares ofState-owned companies and developing derivatives to support thedevelopment of the stock market.
Sharing the news at meeting inHanoi on February 2, SSC Chairman Vu Bang said the commission will amendsome provisions in the Decree 58/2012, which provides guidelines forthe implementation of the Securities Law, with the biggest issue beingincreasing the participation of foreign investors in Vietnamesecompanies.
"If the amendments are approved during the secondquarter, it will definitely attract better foreign investment flows," hesaid, adding that the SSC will create the utmost conditions forattracting investment from abroad.
Another measure for boostingforeign investment will be to lift the free float for listed companieswith State ownership. A roadmap will be designed for State-ownedenterprises (SOEs) to post listings to sell State capital and raise thenumber of transferrable shares.
Therefore, the SSC is seekingways in which to urge SOEs to list shares after their equitisation. Bangrevealed that a document for listing shares directly on the stockexchanges, instead of going through the unlisted public company market(UPCoM) will be published soon.
In addition, regulations for thederivative market, which are expected to be launched next year, areawaiting approval and hopefully will be introduced during this quarter,according to the SSC chairman.
"Obviously, as Vietnam isintegrating into global collaboration, we have to introduce reforms tostay inside the global stock market system," said Bang.
"Ifliquidity and management capacity improves, we will be able to attractmore foreign investment; hence more actively support the equitisation ofSOEs and process non-performing loans," he added.-VNA
Theseinvolve the expansion of foreign ownership, listing shares ofState-owned companies and developing derivatives to support thedevelopment of the stock market.
Sharing the news at meeting inHanoi on February 2, SSC Chairman Vu Bang said the commission will amendsome provisions in the Decree 58/2012, which provides guidelines forthe implementation of the Securities Law, with the biggest issue beingincreasing the participation of foreign investors in Vietnamesecompanies.
"If the amendments are approved during the secondquarter, it will definitely attract better foreign investment flows," hesaid, adding that the SSC will create the utmost conditions forattracting investment from abroad.
Another measure for boostingforeign investment will be to lift the free float for listed companieswith State ownership. A roadmap will be designed for State-ownedenterprises (SOEs) to post listings to sell State capital and raise thenumber of transferrable shares.
Therefore, the SSC is seekingways in which to urge SOEs to list shares after their equitisation. Bangrevealed that a document for listing shares directly on the stockexchanges, instead of going through the unlisted public company market(UPCoM) will be published soon.
In addition, regulations for thederivative market, which are expected to be launched next year, areawaiting approval and hopefully will be introduced during this quarter,according to the SSC chairman.
"Obviously, as Vietnam isintegrating into global collaboration, we have to introduce reforms tostay inside the global stock market system," said Bang.
"Ifliquidity and management capacity improves, we will be able to attractmore foreign investment; hence more actively support the equitisation ofSOEs and process non-performing loans," he added.-VNA
