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Government supports businesses listing shares abroad
Vietnam wants much more capital for investment and development. Therefore, the Vietnamese Government encourages businesses to list shares abroad, said Deputy Prime Minister and Foreign Minister Pham Gia Khiem.
Speaking at a seminar held in Hanoi on November 12 on listing and offering stocks of Vietnamese businesses abroad, Mr Khiem said the financial crisis in the US has had a certain impact on the Vietnamese economy from which, the Vietnamese Government can learn about weaknesses in its economic policy in order to enhance administrative and banking reform and stabilize the macro economy.
Through the seminar, legal frameworks in connection with foreign currency management, securities depository and supervision will be improved so as to develop the securities market in a sustainable and transparent manner, said Mr Khiem.
According to the Chairman of the State Securities Commission, Vu Bang, no Vietnamese businesses have listed their shares on the foreign stock exchanges due to differences in international and Vietnamese accounting standards.
In order to resolve this issue, the Ministry of Finance is continuing to improve legal foundations for listing and offering stocks abroad by drafting a guiding circular for authorized agencies to consider and approve.
VOV
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