HOSE urges exchange for start-ups

October 26, 2016 | 10:17

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The chairman of the HCM Securities Exchange (HOSE), Tran Dac Sinh, has proposed that HCM City sets up a stock exchange for start-ups to help them mobilise capital.

The chairman of the HCM Securities Exchange (HOSE), Tran Dac Sinh, has proposed that HCM City sets up a stock exchange for start-ups to help them mobilise capital.-Photo saigondautu.com.vn

Sinh made the proposal at a meeting with the People's Committee of HCM City on Monday. He said each ministry and each locality had individual policies supporting the enterprises, with no links between the policies.

Le Hai Tra, permanent deputy general director of HOSE, said the Government had created many policies to support start-up enterprises. But so far, ministries have had no specific guidance to implement policies.

In 2015, only 67 start-up enterprises in Viet Nam had success in mobilising capital.

HCM City should establish a securities exchange for start-up enterprises to connect parts of the entrepreneurial ecosystem, Sinh said.

HOSE committed to provide support in terms of infrastructure and experience to establish the exchange and also propose policies related to the entrepreneurial ecosystem, Vietnam News Agency reported.

Nguyen Thanh Phong, chairman of the People's Committee of HCM City said that the city needed support from departments and sectors, including HOSE, to develop start-up enterprises and an entrepreneurial ecosystem.

To develop start-ups, authorities of HCM City would focus on key sectors and build policies attracting more participants and meet start-up enterprises to support them, he said.

HCM City would soon establish a start-up centre to consult start-up enterprises and co-ordinate the start-up enterprises in the city, Phong said.

Viet Nam currently has 1,800 start-up firms, 21 start-up incubators, seven start-up accelerators and 20 workspaces. In addition, more than 20 foreign venture funds have opened offices in Viet Nam.

VNS

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