In a recent interview granted to VOVNews, HaSTC director Tran Van Dung talked about the prospects of future cooperation between HaSTC with other regional and international partners. 

VOVNews: As far as we know many foreign partners want to cooperate with HaSTC, why did you select Bursa Malaysia Stock Exchange?

Mr Dung: The Vietnamese stock market, including HaSTC, has achieved spectacular growth in recent times, particularly in late 2006 and early 2007. When the market is growing, we should think of cooperation with foreign stock exchanges to create good chances for the national stock market and for HaSTC in particular to learn from their foreign partners in terms of organisational and management skills, methods to conduct transactions and other services for investors. In our strategies, we consider Stock Exchanges in the Southeast Asian region as our potential partners because they have similar development levels to ours. In addition, the ASEAN cooperation framework conforms to Vietnam’s development level. That is why we decided to sign memoranda of understanding with the Singapore Stock Exchange and Bursa Malaysia Stock Exchange. 

VOVNews: What other partners do you plan to select for future development? Could you elaborate on further steps of cooperation with these partners?

Mr Dung: The inter-stock exchange cooperation model is a growing trend for development. There are many things I think the Vietnamese stock market can learn from foreign partners, and vice versa. Besides stock exchanges in the region, we plan to establish relations with those of higher development levels such as the London and New York Stock Exchanges. Cooperation levels depend on the need, capacity and readiness of both sides. Firstly, I think we should learn from their experience in operating the market, particularly in conducting the transaction system. The transaction system, the information system and the market management system are basic components to make a stock market operate efficiently and transparently and to better cater to investors’ tastes. Secondly, we can receive assistance from partners, especially in technology development. Thirdly, we can learn from their experience in the area of protecting investors’ interests and dealing with unwanted changes in the stock market.

VOV: What will domestic and foreign investors benefit from their investing in each other’s stock markets?

Mr Dung: There is no doubt that investors of the two countries will benefit from the cross listing of stocks by foreign companies in Vietnam and Vietnamese companies abroad. They will find it easier to get access to each other’s information, promote their trademarks and seek cooperation opportunities with partners in the resident countries. Second, there is close cooperation between market organisers and State management agencies. Such cooperation will help promote liquidity between the two markets and protect investors’ interests if something goes wrong with a certain stock of the sort. It will also help deal with arising disputes between the two markets with the engagement of the two countries’ securities agencies and legislative bodies. 

VOVNews: Thank you.