Plan for merging two Vietnam stock exchanges to be completed soon

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A plan on merging Vietnam's two main stock exchanges will be submitted to the government no later than early next quarter, said Nguyen Son, head of the State Securities Commission's Market Development.

The commission is in the final steps of developing a plan of merging the Ho Chi Minh Stock Exchange (HOSE) and the smaller Hanoi Stock Exchange (HSX), he said.

Son said a roadmap is needed for the merger which he acknowledged was a "big issue." However a detailed roadmap remains unveiled. 

The exchanges are home to the nation's two main stock markets and the over-the-counter market UPCome.

According to news website VnExpress, it is said that the merger aims to resolve the inconsistent managements of the stock exchanges which lead to higher expenses.

The country's stock market, which is 14 times smaller than Singapore's, according to Bloomberg, is undergoing a 5-year restructuring process that started last year. 

HOSE's benchmark VN-Index has gained 20 percent this year, and the HSX's 4.7 percent.

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