STANDARD CHARTERED LOOKS FORWARD TO THE DEVELOPMENT OF VIETNAM’S CAPITAL MARKET
Provides market update and fund raising strategies
HCMC, March 26, 2008 – Standard Chartered Bank co-sponsored a seminar entitled “Vietnam’s Capital Markets: Looking Forward” at the New World Saigon Hotel today. Experts from Standard Chartered shared their experiences on the Vietnamese and international capital markets with officials from the State Securities Commission and business leaders from domestic and international financial companies attending at the half-day seminar. This sponsorship demonstrates the Bank’s continuous active contribution to the development of the capital market and banking sector in Vietnam.
Given the increasingly volatile capital market and shortage of funding, it would be helpful for Vietnamese corporations and foreign investors to be able to evaluate the current status of the capital market, project future development to make their own preparations. The purposes of this seminar were to share financial experiences and lessons on these capital markets, as well as project an outlook for the year 2008, suggest ways to access good investment opportunities.
This year’s seminar welcomed participants such as the Vice Chairwoman of Ho Chi Minh City People’s Committee, Mr. Vu Bang, Chairman of the State Securities Commission. Mr. Madhur Mehta, Managing Director in Debt Capital Markets of Standard Chartered Bank delivered a presentation on the state of international capital markets.
Mr. Mehta analyzed the “Domino Effect” seen through 2007 with the US sub-prime housing crisis, the financial market turmoil, numerous rating downgrades and put forward some forecasts for today’s capital markets. A well-known expert in capital markets, liability management, loans, EXIM loans and project finance, Mr. Mehta gave a full market update and fundraising strategies to deal with the current volatile economic situation.
Also attending the seminar were representatives from Vietcombank, Dragon Capital Group Limited, PXP Vietnam Asset Management Limited and Ho Chi Minh City Securities Corporation.
Standard Chartered has played a strong bridging role in assisting Western multinationals and Asian companies to invest in Vietnam, as well as helping Vietnamese companies grow overseas. The bank has just received an approval, in principle, to set up a 100% foreign-owned subsidiary in Vietnam.
