Experts suggest building specialised stock market for start-ups
Building a specialised stock market for start-ups will help connect them with investors to ensure regular capital for operation and development, experts have suggested.
Hanoi (VNA) – Building a specialised stock market for start-upswill help connect them with investors to ensure regular capital for operationand development, experts have suggested.
According to the Ministry of Science andTechnology, Vietnam is home to thousands of start-ups, nearly 70 joint workingspaces, and 50 incubation facilities and organisations.
The quality and quantity of start-up investmentdeals surged in 2018 with the total capital of 889 million USD, up three-foldcompared to that of 2017.
The building of a specialised stock market willmake it easier for start-ups to access to diverse capital sources, expertssaid.
Accordingly, Deputy Prime Minister Vuong DinhHue recently assigned the State Securities Commission and the Ministry ofFinance to build frameworks to submit to the Government and the NationalAssembly for permission to pilot a scheme on the development of a specialisedstock market for start-ups and innovations.
Nguyen Viet Duc, deputy manager of productdevelopment at the securities services division of MB Securities Co., suggestedrevising the law on tax and other legal documents to match the development ofstart-up firms as most of them are active in the fields of economy and finance.
Le Duc Khanh, strategic director of PetroVietnamSecurities Incorp., said the idea of building a specialised stock market is topromote innovative and emerging firms.
This is in line with the Government’s policy ofpromoting innovation and developing the private economy, he added.
Associate Professor, PhD Dinh Trong Thinh fromthe Academy of Finance, said that in order to realise this idea, managementagencies need specific mechanisms and to disclose risks that investors mayencounter when trading on the market.–VNA
In Ho Chi Minh City and the south-western region, individuals set up 75 percent of all start-ups and organisations established the rest, according to the Ministry of Science and Technology Office in the southern region.
Start-ups should grasp market trends and make solid preparations in terms of planning and resources to ensure their future success, said participants at the Vietnam Young Leaders Forum in Ho Chi Minh City on December 14.
Vietnamese start-ups are still not paying adequate attention to registering intellectual property, although this type of intangible asset plays a significant role in their future development.
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Illustrative image (Source: VNA)
