Strengthening connectivity, accelerating the process of building a Financial Center in Vietnam

The event was attended by nearly 200 delegates from management agencies, economic experts, and investors in the field of derivatives trading - Photo: VGP/Hong Duc

The training session was attended by representatives of the Department of Industry and Trade of Ho Chi Minh City and representatives of the Vietnam Rubber Industry Group (VRG) along with experts from Inspirante Trading Solutions Pte Ltd (ITS), representatives of the Singapore Commodity Exchange (SGX), Asia Commodity Marketplace (ACM) from Indonesia and Brusa Malaysia Derivatives (BMD).

200 delegates from management agencies, economic experts, investors, business members, and brokers in the field of derivatives trading attended and shared at the training session.

Mr. Nguyen Duc Dung, Deputy General Director of MXV, said that this year's training program does not only stop at theory but also aims to equip traders with essential tools to deal with unexpected market fluctuations.

"From macro to micro risk management, we hope that MXV members can identify and prevent adverse fluctuations, while optimizing profits. This is an opportunity for the three leading commodity exchanges in the ASEAN region to share experiences in managing trading activities and trading operations," Mr. Dung shared.

This event has special significance for MXV and its derivatives trading members in the context of Vietnam's efforts to upgrade its comprehensive partnership with countries in the region, especially after General Secretary To Lam's visit to Indonesia, the ASEAN Secretariat and Singapore.

Especially in the context that Ho Chi Minh City is accelerating the construction of a regional and international financial center. This is the driving force for Vietnam to connect to the global financial market; attract foreign financial institutions, promote resources, and create breakthroughs for development. In which, derivatives trading is one of the three core pillars of this center model. Through listing Vietnamese products with strengths such as rubber, which may soon be coffee, rice, cocoa, etc., to attract foreign investors, especially from global financial institutions to trade goods.

Through the training, experts from regional exchanges shared how exchanges operate, manage risks, and trade effectively. At the same time, they helped market participants get acquainted with technology platforms, market data, and advanced analytical tools - the core elements of a strong financial center.

Mr. Nguyen Nguyen Phuong, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City: Trading goods through the trading floor meets the policy of developing Ho Chi Minh City into a leading shopping and financial center in the region - Photo: VGP/Hong Duc

At the training session, representatives of the Vietnam Rubber Industry Group and the Ho Chi Minh City Department of Industry and Trade also shared about the plan to list rubber and pork on the commodity exchange, as a premise for commodity trading in Ho Chi Minh City, and then commodity trading in the Financial Center.

According to Mr. Tran Nhu Hung - Head of Business Market Department - Vietnam Rubber Industry Group (VRG), listing goods for trading is an inevitable trend of the world commodity market in general and Vietnam in particular.

Sharing more, Mr. Nguyen Nguyen Phuong, Deputy Director of the Department of Industry and Trade of Ho Chi Minh City said that through preliminary research and expert assessment, the Department of Industry and Trade of Ho Chi Minh City found that the effectiveness of trading goods through the trading floor is very clear and brings great values ​​and benefits to society and related entities, worthy of the effort and cost spent on research and implementation. At the same time, it meets the policy of the City People's Committee to develop Ho Chi Minh City into a leading shopping center and financial center in the region.

The Department of Industry and Trade will coordinate with MXV to implement a pilot transaction organization in the next 1-2 years to have a basis for calculation and build a suitable model for Ho Chi Minh City. Currently, the Department of Industry and Trade of Ho Chi Minh City has submitted a document to the leaders of the City People's Committee requesting permission for the transaction.

Hong Duc