Ho Chi Minh City SEC to be reserved for big players: following news earlier this month that chartered capital for companies listing on the Ho Chi Minh City SEC is to be adjusted, VIR spoke to Tran Cao Nguyen, director of the State Securities Commission market development department, about the move. (Banking & finance: in-depth news, analysis and comment from Vietnam's banking and finance sector)

Vietnam Investment Review, September, 2002

Why has the State Securities Commission (SSC) agreed to raise the chartered capital for companies listing on the Ho Chi Minh Stock Exchange Centre (SEC)?

First, I would like to stress this is just a regulation in a draft decree that aims to replace Decree 48 on the stock market so it has yet to be legally valid. The major purpose of SSC's move is to concentrate large-scale companies listed at the Ho Chi Minh City SEC, while Hanoi SEC will take charge of stocks from smaller companies.

If the new decree is approved, when will listed companies have to comply with the regulation?

The SSC is considering detailed steps to help realise it. It might be one or two years after approval.

But what if listed companies do not want to do so? Will they...