Securities investors

The club of listed organizations, which gathers companies and organizations that list their shares on the stock market, was established in 2005. However, just a short time after the establishment, the club expressed its willingness to upgrade itself into an association.

Explaining the reason, Do Van Trac, Chairman of the Club of Listed Organizations, said the association will give its members a voice in the Government and management agencies in order to protect their benefits. A club will not have big enough voice.

Trac stressed that the establishment of the association will be good for the market, because through the association, member organizations will be able to help each other in implementing the requirements set by management agencies in securities relating activities. If the association is established, listed companies and investors will be able to cooperate closely with each other for the benefit of the two sides and the development of the market.

Some people think it would better to set up only one association, which gathers listed companies and securities trading companies. However, Trac disagrees with the opinion. He believes the activities of listed companies and securities trading companies are quite different. The association of listed companies will represent the companies that provide commodities to the market, while the association securities companies protect the rights of the people who trade these commodities.

“Listed companies need to stay in an association which can protect their benefits and give them a voice,” he stressed.

However, to date, the proposal to set up the association of listed organizations has not received any reply from the management agency.

The silence by the management agency remains a question for the public, because people cannot understand why the proposal has been forgotten for such a long time.

“The watchdog agency has no reason to refuse to allow the setting up of an association of listed organizations,” said Nguyen Hoang Hai, Secretary General of the Vietnam Association of Financial Investors (VAFI).

Hai said with nearly 600 listed companies, the club of listed organizations has every reason to ask for the permission to set up an association.

“I strongly believe that the plan to set up the association of listed organizations does not violate the laws,” Hai said. “It is a surprise to me that the association has not gotten a license over the last five years”.

Hai went on to say that the management agency needs to explain the tardiness in licensing the association. Establishing the association of listed companies is really a good ideal which will help develop the stock market, and if the association cannot be set up, this will badly affect the market.

According to Hai, the model of association has been developing strongly in other countries. There are associations of investors, associations of securities brokers, and associations of consultants. The associations create more opportunities for different groups of subjects on the market to communicate with each other.

Source: Dau tu chung khoan