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USTDA general director affirms more technical supports to northern bourse
The US Trade and Development Agency (USTDA) will continue to build technical assistance programme to help boost development of the Hanoi Securities Trading Centre, affirmed Mr Larry Walther, USTDA general director.
Mr Larry Walther made the affirmation at his meeting with the HASTC leaders on July 23.
The USTDA general director launches the 667th trading session at HASTC and had an exchange with leaders of the State Securities Commission and HASTC on issues relating to the development of the Vietnam stock market, orientations for development of the market in general and the HASTC in particular.
The two sides discussed about the implementation of the projects jointly carried out by USTDA and HASTC as well as new co-operation opportunities.
USTDA was the sponsor of a "Feasibility study on HASTC development project," which was completed in 2007. The technical assistance project from the US government has a total cost of US$422,000.
The project was conducted by US firm Link Development LLC and FPT Information System Company (FIS). The consultants identified the problems with the HASTC expansion project: rapid growth in the number of listed companies, increasing market sophistication, the risk of trading manipulation, poor controls on unlisted companies’ trading and a shortage of services and give proposals to these problems.
The project is of great significance for the HASTC in its efforts to build a modern and effective trading system.
On the success of the project, USTDA and the Ministry of Finance have officially launched an expansion of the project which is due to be completed in March 2009.
ND
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