Need A First-time Listing Policy

Mr. Ho Quoc Tuan, Bristol University lecturer, the UK shared the experiences of good capital market development in the world that Vietnam can refer to. At the recent government meeting, the Prime Minister has directed The Ministry of Finance studies promulgating securities market development solutions to become long-term capital mobilization channels for enterprises and economies. In order to achieve this goal, Vietnam needs to recognize the policy of developing the stock market on 4 key groups. Quoc Tuan Ho Quoc Tuan, Lecturer of Bristol University, England

. First, the stock market debt (Bonds) need a process to release in accordance with the Vietnamese conditions and promote the mandatory of bond ratings when issued, for both government bonds and businesses. This gives investors to evaluate the reasonable price to buy bonds after considering profits and risks. Songs, must require financial transparency of private companies want Release debt
A IFRS Style Kit for Private Company needs to be applied as in many developed countries (they have a separate standard for listed companies and a more liquid standard applied to private companies, but still responds Applying with the transparency to these companies to access the capital market). Monday, with the stock market, it is necessary to review the regulations that the company must be profitable to list the stocks such as currently or not ( In accordance with current regulations, to bring shares to listing, businesses are forced to have profits on the two-year financial statements in advance, certified by the audit unit). If this standard applies, companies Huge technology like Amazon cannot be listed. Amazon listed in the US since 1997 but until 2003 has a profit. This regulation causes the listing door of companies in the "new economy" (eg information technology, biotechnology) high growth but negative profit is closed. Vietnam has listed standards Too tight but the standard cancellation is too loose. Many companies in Vietnam have continuously have falling activities and acts that investors have condemned many times to condemn "selling money paper", violating regulations In terms of information disclosure and disclosure of not promptly, violations of the Board of Directors ... should have stopped trading to investigate or cancel listing for a long time in markets like British and American but still Survive in Vietnam
We need to be aware that the competition attracting a good company to list has become a key globally and even Singapore is also losing its good company on rivals like Hong Kong. The status of successful start-up companies of Vietnam headquarters on Singapore is a signal that Vietnam is losing fascinating in attracting C The domestic company has a young age but high growth listed in the country and the story is forced to have a listed new profit as a barrier, in addition to other obstacles on the business environment and access to capital International adventure. Vietnam needs to provide a list of stock listings for the first time in new conditions.Viet Nam has the listed standards too tight but the standard cancellation is too loose. Bonds or stocks need to be considered a cumulative investment method for retirement days and therefore, a certain tax exemption policy is required. English, America and Japan have the types of savings accounts accumulated by securities investment, where money in which the use of bonds and stocks will be exempt from capital interest tax, dividends, etc.. , ISA accounts in the UK, a person can put it up to £ 20,000 per year. All trading transactions through ISA accounts are not subject to capital interest, dividends or etc. Wednesday, because of the in-depth information about credit rating and investment analysis of non-everyone The time to learn deeply and completely, it is necessary to early put into the individual financial advisory activities for professional personal financial consultants, with practice certificates that can support the people to invest right seat, choose the right segment for yourself. Professional certification should take care of professional associations and management agencies should only play the role of quality inspection of certification processes, instead of self I issue a certificate, leading to unnecessary monopoly status. These policies should have been implemented 15 years ago, but this time is not too late. Ho Quoc Tuan, Lecturer of Bristol University , England

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