Vietnam Mulling over First Commodity Exchange

The Ho Chi Minh City Economic Institute has proposed the municipal authority set up a commodity exchange, the first of its kind in Vietnam, Vietnam Economic Times reported on April 16.

 

The exchange will operate as a joint stock company with the registered capital of VND200 billion (US$12.5 million), said the institute.

 

The mercantile exchange, which will be in charge of organizing auctions, receiving and delivering goods and conducting payment services, will be located in the inner city and its three auction centers will be situated at three wholesales markets of Thu Duc, Binh Dien and Hoc Mon in the city’s outlying areas.

 

Initially, the exchange will transact agro-fisheries products which are also Vietnam’s staple exports, bringing about billions of dollars for the country annually.

 

Vietnam has not established any professional agro-fisheries centers or exchanges, said the institute. (Vietnam Economic Times, Young People)