Vietnam ’s State Securities Commission (SSC) is stepping up efforts to build an information disclosure system with funding provided by the Government of Luxembourg.
SSC said the 150,000 EUR project is expected to begin in January 2011. The Luxembourg Agency for Development Cooperation – SCC’s partner in the project – is now seeking a service provider for the project.
The move came after the Ho Chi Minh Stock Exchange (HOSE) tested information disclosure software in mid 2010, which has been welcomed by investors as a positive step, helping them to get faster and more accurate information.
Tran Anh Dao, Head of HOSe listing management and assessment division, said the use of electronic information disclosure systems will be compulsory for all listed firms in the near future.
Experts said together with management agencies’ efforts to shorten the time for information disclosure, listed companies need to improve transparency in this regard.
“Business results are one of the basic factors for investors to decide on their investments in a company’s shares. However, a number of businesses do not want to disclose information due to their poor business performances,” Pham Kinh Luan, a securities expert, said.
Vietnam is currently home to more than 1,200 public firms, including over 600 listed, securities and fund management companies, which have to publicise information./.
SSC said the 150,000 EUR project is expected to begin in January 2011. The Luxembourg Agency for Development Cooperation – SCC’s partner in the project – is now seeking a service provider for the project.
The move came after the Ho Chi Minh Stock Exchange (HOSE) tested information disclosure software in mid 2010, which has been welcomed by investors as a positive step, helping them to get faster and more accurate information.
Tran Anh Dao, Head of HOSe listing management and assessment division, said the use of electronic information disclosure systems will be compulsory for all listed firms in the near future.
Experts said together with management agencies’ efforts to shorten the time for information disclosure, listed companies need to improve transparency in this regard.
“Business results are one of the basic factors for investors to decide on their investments in a company’s shares. However, a number of businesses do not want to disclose information due to their poor business performances,” Pham Kinh Luan, a securities expert, said.
Vietnam is currently home to more than 1,200 public firms, including over 600 listed, securities and fund management companies, which have to publicise information./.
