Friday, September 14, 2007

Vietnam: 7,285 Foreign Investors Granted Securities Trading Accounts

Vietnam Securities Depository Center (VSD) has granted securities trading accounts to 7,285 foreign investors as of September 10, of which 446 are organizations and 6,839 individuals.
In August 2007 alone, 28 institutional and 573 individual foreign investors got trading accounts from the VSD.

More and more foreigners are interested in Vietnam’s stock market, a state media said.
Just recently, a South Korean securities giant KISC set up its representative office in Ho Chi Minh City, the first step to penetrate into Vietnam, as it said a potential investment market.

KIS general director James Sang Ho Ryu said the robust growth of Vietnam economy and its stock market expansion was the reason for KIS’s presence in the country.

James said his company made a survey, indicating that the listed companies in Vietnam’s stock market have posted profit growth of more than 50 per cent.

Vietnam will be a driving force for KIS to expand operations to Laos and Cambodia when the stock markets of these countries develop, he said.