Ifc Wants To Promote Cooperation In Vietnam’s Capital Market And Stock Market

On December 1, Deputy Minister of Finance Tran Xuan Ha had an online meeting with Mr. Kyle Kelhofer - National Director of International Finance Company (IFC) in charge of Vietnam, Cambodia and Laos. Attending the meeting were also representatives of some functional units under the Ministry of Finance. Images at the meeting (Photo: MP) Welcome Mr. Kyle Kelhofer with a meeting with the Ministry of Finance in Vietnam, stuff Chief Tran Xuan Ha said that this is a good opportunity for both parties to exchange, discuss and share issues of interest in financial markets, securities market, equitization and divorce process in enterprises State (SOE)

... Speaking at the meeting, Mr
Kyle Kelhofer highly appreciated the Government and the Ministry of Finance in Vietnam in the administration of macroeconomic efficiency over time in the context of Covid-19 pandemic Impact and seriously impact on the economy, thereby creating a solid and convenient foundation for the development of the private sector. Charitating on funding funding for local authorities, Mr. Kyle Kelhofer Assuming that in many countries around the world, local authorities are increasingly able to mobilize capital to invest in development without passing guarantees The government, in Vietnam, IFC currently works with a number of localities, including project testing in Ho Chi Minh City. Localities also have many areas to mobilize resources through reforms to increase credit credit levels so that credit institutions can invest. IFC's national director wants to share experiences with the Ministry of Finance on finance for local authorities. For equitization of SOEs, Kyle Kelhofer said: Over the years, IFC has joined In the process of equitization in some SOEs in Vietnam including Viettin Bank, PVI ... in which IFC always leads the market to guide strategic investors in SOEs. Besides, IFC has supported Vietnam to raise market rankings from the marginal market to emerging markets, thereby helping domestic enterprises can access more competitive capital
Mr. Kyle Kelhofer said that Vietnam can do better, attracting long-term investment in the market. Kyle Kelhofer emphasized: IFC always considers Vietnam as its very important member country, IFC available to cooperate and share experiences with the Ministry of Finance in the fields such as finance to local authorities, equitization, capital market development, national credit ratings ... in the coming time. At the meeting, Deputy Minister Tran Xuan Ha highly appreciated IFC has provided and technical assistance to the Ministry of Finance, especially the development of capital markets and equitization of SOEs, participating in restructuring some areas Other economics. The Deputy Minister also appreciated the proposal of IFC's cooperation in the coming time. Over the mobilization of resources for local authorities, Deputy Minister Tran Xuan Ha welcomed IFC's initiative. However, the Deputy Minister said that it was necessary to consider, choose the target, how to implement accordingly. Under the Law on Public Debt Management in 2017, the local government must not borrow directly from abroad, but through the government borrowing on re-lending or direct allocation. With some big cities, the demand for resources to develop is huge, need to share the way, create conditions for major cities to access the appropriate capital by giving the Government of Vietnam to borrow For local lending, or directly investing project programs according to regulations, creating conditions for localities with development investment resources. The Deputy Minister asked IFC to exchange and work specifically with the functional units under the Ministry of Finance to clarify the way and objectives to facilitate localities to access IFC's capital. SOE equitization and capital market development, Deputy Minister Tran Xuan Ha highly appreciated IFC has contributed capital to a number of Vietnamese equitized enterprises, thereby creating success in the equity process. Vietnam's chemical in recent years. The Deputy Minister said: the past time, the Government and the Ministry of Finance in Vietnam have made efforts to develop the capital market, which has brought Vietnamese capital markets from the marginal market to emerging markets. In the coming time, Vietnam will continue to change to attract capital into Vietnam's stock market. The Deputy Minister said that capital demand for development investment is very large, as well as the process of equitization of SOEs will create opportunities to provide attractive stocks to investors, so the stock market is completely muscle Assembly development. In order to develop sustainable stock markets, the Government and the Ministry of Finance will continue to evaluate and improve further to adjust, manage and supervise the development market in a healthy way, do not hinder their head operations. Private business, complying with the Phat Phat Equally and transparent way ./. MP

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