Việt Nam seeks stronger capital market links with London

Việt Nam seeks stronger capital market links with London

The country had implemented measures to develop its capital market, including improvements to the legal framework, technology infrastructure and trading mechanisms for foreign investors, as well as greater transparency and preparations for a central counterparty (CCP) mechanism.

Speakers at the forum. — Photo nhandan.vn

 Việt Nam was seeking to strengthen links between its capital market and London's financial centre, with the Government looking to attract more international and long-term investment, a forum heard on Friday.

The event, which drew nearly 300 representatives from businesses, banks, investment funds and financial institutions, comes as Việt Nam and Britain deepen ties following the upgrade of their relationship to a Comprehensive Strategic Partnership.

There remained significant scope for cooperation in capital markets, green finance, fintech, trade finance, international financial centres, infrastructure and energy, Deputy Minister of Finance Nguyễn Đức Chi said at the forum. 

Chi said Việt Nam focused on maintaining macroeconomic stability and improving the investment environment while promoting innovation, digital transformation and green growth. The country also aimed to attract high-quality, long-term capital accompanied by knowledge, technology and management expertise.

The country had implemented measures to develop its capital market, including improvements to the legal framework, technology infrastructure and trading mechanisms for foreign investors, as well as greater transparency and preparations for a central counterparty (CCP) mechanism, Chi said.

FTSE Russell's decision to upgrade Việt Nam's stock market to "Secondary Emerging Market" status reflected progress in the country's reforms and marks a new phase of market development.

The Government and his ministry would continue to improve regulations and policies to strengthen transparency and fairness, protect investors and improve access for global investors, he added.

Dom Holland from Britain's Financial Conduct Authority (FCA), said Việt Nam was emerging as an important capital market in Asia and that reforms and the FTSE Russell upgrade were helping boost investor confidence.

The FCA was ready to share experience and strengthen cooperation with Việt Nam to support sustainable capital market development, Holland said.

The conference included discussions on Việt Nam's capital market reforms and stock market upgrade, capital mobilisation for future growth, international equity financing through Global Depositary Receipts (GDRs), and global investors' views on Việt Nam.

The event aimed to deepen dialogue between regulators, market institutions, companies and international investors and expand investment cooperation between the two countries.

Bizhub