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EVENTS: CFA INSTITUTE STRENGTHENS SUPPORT TO CORPORATE GOVERNANCE AND INVESTOR EDUCATION IN VIETNAM

CFA Institute Strengthens Support to Corporate Governance and Investor Education in Vietnam commits to collaborate with regulators, stock exchanges and professional training bodies to improve capital market standards.

A delegation from CFA Institute, the global association of investment management professionals, led by President and CEO, Mr. Paul Smith, CFA, has demonstrated its strong commitment to capital market developments in Vietnam during its recent visit to the country.
The delegation met with the State Securities Commission of Vietnam (SSC), Hanoi Stock Exchange (HNX), Ho Chi Minh Stock Exchange (HSX), and Securities Research and Training Center (SRTC), a subsidiary of SSC, to discuss collaborations on promotion of corporate governance, investor protection and financial literacy. ​
“We appreciate the global activities of CFA Institute and are supportive of the establishment of the Vietnam Association of Financial Analysts for CFA members,” said Mr. Vu Bang, Chairman of State Securities Commission of Vietnam. “In an increasingly global market, internationalizing professional training standards is crucial to improving the quality of practitioners in the Vietnamese capital market. The Securities Research and Training Center is conducting research and training activities, and licensing practitioners in the capital market. We are open to collaboration with educational organizations and institutions like CFA Institute.” 

Mr. Bang expressed his support for the widening of activities by CFA Institute in Vietnam, as well as the SSC’s willingness to collaborate with CFA Institute to raise the quality and ethical standard of financial talents, and in research activities and policy advocacy. During the visit, CFA Institute met with SRTC to discuss specific projects and areas for future collaboration.
Leaders at HNX and HSX expressed strong support for a strengthened commitment from CFA Institute to its activities in the Vietnam capital market. HNX and CFA Institute have agreed three new initiatives in the areas of corporate governance, ethics training for institutional investors (stewardship code), and derivative market development. 
“CFA Institute is committed to working with regulators, exchanges and industry members in Vietnam to advocate the highest level of ethical standards, corporate governance, and to ensure fair practices and transparency for the sustainable development of the local capital market,” said Mr. Smith. “As a non-profit professional association, we demonstrate our commitment to local communities by reinvesting our income to support educational initiatives such as these, in order to promote investor education and professional standards.” 
During the visit, the delegation also paid visits to top employers in the investment industry, including Dragon Capital, Ho Chi Minh City Securities Corporation, Saigon Securities Inc. and SSI Asset Management, as well as the Rector of National Economics University in Hanoi. These university and employer outreach initiatives underpin the commitment of CFA Institute to the long term development of Vietnam, through shaping the future generations of investment professionals, and working with employers to set a high standard of professionalism for practitioners.


Mr. Vo Sang Xuan Vinh, CFA, member of the Preparation Committee for the establishment of the Vietnam Association of Financial Analysts, said, “We are ready to submit an application to set up a member association to the Ministry of Home Affairs, and we hope to receive continued support from the Ministry of Finance, SSC, SRTC, HNX, HSX and other relevant authorities. Having a member association will greatly boost collaboration between CFA Institute and industry players, and contribute to the financial talent and capital market developments, hence economic well-bring of Vietnam.” 
Currently, there are about 130 CFA charterholders in Vietnam, and nearly 1,600 candidates take the CFA exam annually.