Vietnam plans stock mart

Vietnam plans stock mart

HANOI (Kyodo): Vietnam expects to set up a stock exchange in the second half of 1996, the country's top banking official said in a report published Saturday.

The English-language daily Vietnam News said State Bank Governor Cao Si Kiem made the prediction in a recent interview with the vernacular Lao Dong newspaper.

"We plan to open it in the second half of 1996 after gathering together all the necessary conditions," the newspaper quoted him as saying.

Kiem said some of the conditions were already in place, such as a bank deposits market, a foreign currency market and the issuance of treasury bills.

The governor outlined three steps that must be taken in parallel in order to realize a stock market in Vietnam.