Vietnam opens first goods trading floor

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Ho Chi Minh City launched the country's first commodity trading floor on Wednesday. The market is expected to start operating early next year.

 

Trieu Phong Exchange (TPE) was licensed by the Ministry of Industry and Trade to do business first on coffee, rubber and steel.

 

TPE planned to double its charter capital to VND300 billion (US$15.39 million) after one year and list its shares in 2014.

 

The exchange floor will keep businesses updated with the production status and the market demand for a certain kinds of commodities.

 

With the exchange, Vietnam enterprises expect to play a larger role in international transactions and trade conferences.

 

After many ups and downs on the stock, real estate and gold market, a commodities exchange should provide a new and promising investment channel, insiders said.

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