US Hosts Capital Markets and Investor Education Program

Hanoi July 2, 2007

The U.S. Agency for International Development is sponsoring a workshop to provide an overview of capital market development and regulation, as well as sessions on how to educate and protect investors in an emerging market.

The workshop, entitled “Vietnam Capital Market Development and Investor Education,” will be held on Tuesday in Hanoi and Wednesday in Ho Chi Minh City.  Senior government officials, market regulators, representatives of listed companies and investors are expected to attend.  Training will be conducted by Roel Refran, general counsel of the Philippines Stock Exchange, and Gerri Walsh and William Harter, of the National Association of Securities Dealers in the U.S.

“The United States is an enthusiastic partner supporting trade and investment in Vietnam,” said Dennis Zvinakis, USAID Vietnam Country Representative.  “We strongly support Vietnam's drive to become the next internationally competitive Asian Tiger, and we share a commitment to the development and liberalization of Vietnam's financial and capital markets.”

The program is being hosted by the Center for International Private Enterprise (CIPE), an affiliate of the U.S. Chamber of Commerce.  CIPE will use the seminar to launch a long-term capital-market development program focusing on corporate governance and investor education.

"Capital markets development is an extremely important component of building a market economy, but it can take place only in an environment of sound market-oriented institutions and regulations that ensure a level playing field for all participants," said John J. Callebaut, Senior Program Officer for Asia at CIPE.

USAID is also funding a partnership between the U.S. Securities and Exchange Commission and its Vietnamese counterpart, the State Securities Commission (SSC), to support market development and build capacity for the SSC’s staff and investors.  Since the launch of the Ho Chi Minh City Securities Exchange seven years ago, the number of listings has risen to 197 and total market capitalization has grown to approximately US$20 billion.  USAID programs strive to help Vietnam build on this strong foundation, bolstered by the U.S.-Vietnam Bilateral Trade Agreement and Vietnam's recent accession to the WTO.

Note: Reporters who plan to cover the workshop should come to Ballroom A, Hilton Hotel Hanoi at 8:00 AM, Tuesday July 03, 2007.