CFA Institute Strengthens Support to Corporate Governance and Investor Protection Education in Vietnam

CFA Institute expresses commitment to collaborate with regulator, stock exchanges and professional training bodies to improve the standards of professional excellence, corporate governance in capital market

Vietnam, 31st May 2016 – A delegation of CFA Institute, the global association of investment management professionals, has visited State Securities Commission of Vietnam (SSC); Hanoi Stock Exchange (HNX); Ho Chi Minh Stock Exchange (HOSE); and Securities Research and Training Center (SRTC), a subsidiary of SSC to strengthen their collaboration on promotion of corporate governance, investor protection and financial literacy in Vietnam.

“We appreciate CFA Institute’s global activities and are supportive for the establishment of the Association of Financial Analysts for CFA members in Vietnam,” said Mr. Vu Bang, Chairman of State Securities Commission of Vietnam. “Our subsidiary, The Securities Research and Training Center, is conducting research and training activities on licensing practitioners in the capital market and supports and cooperation from foreign educational organizations and institutions like the CFA Institute are highly received.”

In addition, Mr. Bang emphasized that internationalizing professional training standards is very crucial to improve quality of practitioners in Vietnam capital market, given the prevalent globalization context. The Chairman expressed his pleasure with CFA Institute’s widening activities in Vietnam and the SSC’s willingness to cooperate closely with CFA Institute in training high quality and ethical human resources for the financial sector, and supporting research activities, policy advocacy, and research and development exchange.”. CFA Institute, after that, met with SRTC and its divisions to work on specific projects/areas for cooperation.

In meetings with HNX and HSX, their leaders also expressed strong supports to CFA Institute’s expansion on its activities in Vietnam capital market to promote professionalism, ethical standards, corporate governance, and sustainable development. HNX and CFA Institute agreed to start working soon on three initiatives in the areas of corporate governance, ethical training to public investors and derivative market development.

“CFA Institute is very committed to work together with regulators, exchanges and industry members in Vietnam to advocate the highest level of ethical standards, corporate governance and ensure fair practices and transparency for the sustainable development of the local capital market,” said Mr. Paul Smith, CFA, President and CEO of CFA Institute. “As a non-profit professional association, we demonstrate our devotion to the local community by bringing the funds we collected from Vietnamese candidates for the CFA program back to the educational initiatives and program implemented locally.” CFA Institute also has collaborated with the SSC and Hanoi Stock Exchange to offer CFA scholarship program for their staff since 2015.

During the visit, the delegation paid visits to top employers in the investment industry, such as Dragon Capital, Ho Chi Minh City Securities Corporation, Saigon Securities Inc. and SSI Asset Management, to discuss important issues relating to the local investment profession and possible collaboration opportunity to raise the industry standards. Mr. Paul Smith, CFA – President and CEO of CFA Institute and Mr. Nick Pollard – Managing Director in Asia Pacific of CFA Institute also met with the Rector of National Economics University in Hanoi as part of CFA Institute’s university outreach activities and discussed collaboration opportunities such as University Recognition Program and CFA Institute Research Challenge.

Mr. Vo Sang Xuan Vinh, CFA, members of the Preparation Committee for the establishment of the Vietnam Association of Financial Analysts, remarked: “The delegation visit was quite fruitful. Currently, there are about 130 CFA charter holders in Vietnam; and annually, nearly 1,600 candidates seating CFA exams in different levels. We are about to submit dossier to Ministry of Home Affairs for the official establishment of  the Vietnam Association of Financial Analysts for CFA members, CFA candidates and other financial professionals. The licensed association for CFA members in Vietnam certainly boost the cooperation between CFA Institute with industry players and therefore will contribute greater to the professional development of Vietnam capital markets. We hope to receive continued supports from MOF, SSC, SRTC, HNX, HOSE and other authorities to the association once established as well as for the association to be licensed soon”.

 

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A group photo taken during the CFA Institute visit to State Securities Commission of Vietnam (SSC); Mr. Paul Smith, CFA, President and CEO of CFA Institute; and Mr. Nick Pollard, Managing Director of Asia Pacific met Mr. Vu Bang, Chairman of SSC


About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 138,000 members in 151 countries and territories, including 132,000 charterholders, and 147 member societies. For more information, visit www.cfainstitute.org.