HA NOI — Each of the ASEAN stock exchanges
was small, but if joined together, they could be influential to the world's
investment communities, said the chief executive officer of Thailand's Stock
Exchange, Charamporn Jotikasthira, as he ended the 15th CEO meeting of the
ASEAN Exchanges.
"We all need to attract foreign money;
local investors alone are not enough. So by joining the ASEAN exchanges, we
have more visibility," he said.
According to Charamporn, Viet Nam should join
the ASEAN exchanges as completely as possible because it would be more
beneficial than starting with just three or four exchanges. He welcomed Viet
Nam's stock exchanges to grow together and capture the opportunities after the
Eurozone and US storms passed.
Viet Nam had the advantages of learning from
other members' experience in managing regulations as well as technology, he
added. "By joining the ASEAN exchanges, we will automatically be able to
join a similar platform in any other region."
Meanwhile, Ha Noi Stock Exchange general
director Tran Van Dung said: "We will more easily learn from them as ASEAN
nations have set up long-standing economic ties."
The seven-member ASEAN exchange group
concluded its meeting yesterday with a detailed schedule to launch the ASEAN
Trading Link in June next year. However, the group denied to unveil the
specific solutions. The CEOs of the exchanges only said the main theme of next
year's marketing strategy was to reinforce the position of the ASEAN exchange
in the world's investment community.
The trading link would kick off with the
Singapore Exchange and Bursa Malaysia, while Viet Nam and some other members
will follow later. Viet Nam's two exchanges – the Ha Noi Stock Exchange and
HCMC Stock Exchange – would announce their roadmap after getting approval from
security watchdogs, Dung said.
"The collaboration will create two-way
benefits for Vietnamese and ASEAN investors to buy good shares from each
country, forming a more excellent capital exchange between the nations,"
he said, adding that it would also encourage investment outside the region.
The co-operation in the capital market was
crucial to commercial relationships and mutual understanding of boosting direct
investment, he noted.
However, there are also challenges for Viet
Nam in terms of integration: understanding foreign investors and the serious
preparation for regulating cross-border trading. "Vietnamese authorities
should be aware of legal sanctions to control unusual cross-border
trading," Dung said.
VNS
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