Replies to post #965 on Vietnam Currency Discussion Board

[RICK C]

We just have to show them how to SHOOT A 3 POINT BASKET.LOL
At least we have seen some movement.

[RICK C]

Business

HSBC hosts Viet Nam investment forums

VNECONOMY updated: 06/12/2007


Hongkong Shanghai Banking Corporation (HSBC) held Viet Nam Investment Forums in London, New York and Boston on December 4 to introduce Viet Nam’s capital market.

The event, lasting until December 7, was organised in response to increased interest in the local equity market from investors in both the UK and the US .

President and CEO of HSBC in Viet Nam , Thomas Tobin said in a press release, “Positive feedback after the Viet Nam Corporate Access Investment Conference in Singapore in November encouraged us to communicate more with investors in the UK and US markets.”

Foreign investors participating in the forum gain an in-depth look at the Viet Nam capital market, as well as its revenue generating possibilities.

Thomas also pledged to assist Vietnamese enterprises in sourcing international capital that could help them improve their businesses.

The forum also looks at the future of Viet Nam ’s capital markets, practicalities of equity investment in Viet Nam , government policies and the securities market.

Senior executives from HSBC in the UK and US are sharing their experiences in supporting enterprises to raise funds in international capital markets. Through these discussions, it is hoped that Vietnamese companies can maximise their opportunities for obtaining investment.

Joining the conference were officials and representatives from the Ho Chi Minh City Stock Exchange, local banks and financial institutions, as well as listed and non-listed enterprises.

About 50 leading international investment houses from the UK and US were attending the forum.

[RICK C]

Business

IMF gives Vietnam a 5-step plan

VNECONOMY updated: 11/12/2007


At this year’s Consultative Group meeting, the International Monetary Fund (IMF) recommended five ways Vietnam could continue improving its economy; it emphasized sustainable development based on control of the monetary market.

The first thing the IMF recommended is tightening monetary policies. In the January – September period, the volume of cash in circulation was high and the IMF told Vietnam to strictly manage joint stock and commercial banks’ operations.

The IMF encouraged the Government to enforce credit growth and tighten conditions on money and banking supervision, especially on joint stock banks.

The IMF also asked the State Bank of Vietnam to strengthen its monetary administration flexibility and clearly define its market administration goals and methods.

The fund also recommended increasing exchange rate flexibility. Accordingly, as the capital flow into Vietnam increases, it is necessary to timely intervene in the exchange rate and to not pressure monetary administration.

Another issue that the IMF mentioned is a cautious fiscal policy. Vietnam is in high demand from both domestic and international investors, but pursuing an expansive fiscal policy can make inflation more serious or hamper sustainable growth.

The IMF also encouraged the Vietnamese Government to more carefully supervise outside capital sources; and especially not fund State-owned enterprises’ projects through issuing government bonds.

The fourth point is speeding up banking reforms. IMF said it highly appreciates the comprehensive banking reform itinerary of Vietnam, particularly the equitisation of State-owned commercial banks. It stressed the importance of turning the State Bank of Vietnam into a modern central bank, able to manage monetary policies and supervise other banks and financial institutions during this period of strong growth.

The fund also suggested the expansion of the private sector’s role, considering this the catalyst for economic growth and job creation. IMF said that all State-owned enterprises should be completely equitised by 2010.

Source: Thời báo Kinh tế Việt Nam