Prime Minister Nguyen Xuan Phuc has approved Ho Chi Minh City’s proposal to headquarter Vietnam Stock Exchange in Ho Chi Minh City.
|Bao Viet stock exchange in HCMC (Photo: SGGP)|
The Vietnam Stock Exchange will be established after a merge between Ho Chi Minh City Stock Exchange (Hose) and Hanoi Stock Exchange (HNX).
According to an announcement by Hose yesterday, the city made the proposal to the PM during his working visit in the city on June 27.
Hose or HXS is the first bourse established in Vietnam in 2000. Its capitalization value accounts for over 88 percent of the country’s securities market.
The Ministry of Finance and HCMC has invested VND800 billion (US$36 million) in building a modern IT system and VND400 billion (US$18 million) in the headquarters in preparations for the establishment of the Vietnam Stock Exchange.
The two bourses’ index VNX Allshare will officially operate with 208 shares on HSX and 180 shares on HNX.
VNX Allshare is considered as a meter for investors to follow changes in Vietnamese stock market, contributing in luring foreign capital flow.