The World Bank undertook a study projecton Vietnam s capital markets and sent a mission to Vietnamfrom May 15 to May 27, 2005. This report is the result ofthe study project. The objectives of the project were toreview, analyze and evaluate the situation of Vietnam ssecurities markets vis-a-vis experiences of other developingcountries, including transition economies; to work with theofficials of the State Security Commission of Vietnam (SSC),to make specific recommendations for a five-year plan ofVietnamese capital market development in light of policyimplementation sequence and priorities; to make suggestionson the draft of the Action Plan for Securities MarketDevelopment for the period of 2006-2010 and comment on thePrime Minister's Decision No 163 on the Strategy forthe Development of Vietnam's Securities Market up toyear 2010; and to identify desirable capital market-relatedprojects and programs to be administered by the Bank in linewith Vietnam's overall economic development strategy.This report is organized as follows: Sections 2 and 3 willoverview Vietnam's macroeconomic situation and thefinancial markets in Vietnam. Section 4 will examine SOEequitization, foreign direct investments, and private sectordevelopment. Section 5 will review the operation ofVietnam s capital markets in terms of their regulatoryframework and activities. Section 6 will explore twoprincipal impediments to Vietnam's capital marketdevelopment, namely its nascent government securities marketand its inactive primary market. Section 7 will discuss thepolicy and institutional problems that have been adverselyaffecting the whole financial sector in Vietnam. Finally,Section 8 will recommend policy actions to be implementedunder the five-year plan of Vietnamese capital market development.
PDF
download
878987797
028-85220240
