Vietnam Opens its Securities Companies to Foreign Investors
2012-09-21 22:04:28

This is the VOA Special English Economics Report.(1)

Vietnam is planning to open its markets to more foreign-owned securities companies.(2)

The plan is part of a larger effort to reduce government control of businesses and increase foreign investment. But a number of corruption cases are a concern for many Vietnamese.(3)

And rising prices could be a threat to economic growth.(4)

The Vietnamese economy has slowed after about ten years of fast growth. And debt is a problem for the country’s banks. Small businesses are struggling to get loans, and some people have lost jobs.(5)

In July, the government announced plans to restructure some of the biggest state-owned groups. They include the country’s biggest oil producer, PetroVietnam.(6)
7 月,政府宣布了一些最大的国有集团重组计划。它们包括该国最大的石油生产国,天然气公司。

But the recent arrest of banker Nguyen Duc Kien for financial crimes shocked investors. Stock prices dropped sharply immediately after his arrest.(7)

In September, officials announced a change in rules for foreign ownership of Vietnamese securities companies.(8)

Under the new rules, foreign banks, investment and insurance companies can buy up to one hundred percent of the shares in an existing securities company.(9)
根据新的规则,外国银行、 投资和保险公司可以买到的现有的证券公司股份达百分百。

Economists say the move provides support for privatization.(10)

Vuong Quan Hoang is an economist with the University of Brussels. He says the move is an important step for Vietnam.(11)
Vuong 观音 Hoang 是与布鲁塞尔大学的经济学家。他说,此举是越南的一个重要步骤。

VUONG QUAN HOANG: “For foreign securities companies, I think this is going to be a good thing.”(12)
VUONG QUAN HOANG:"对于外国证券公司,我认为这将一件好事。"

But Vuong Quan Hoang says the changes will likely not be felt for another twelve months, when the economy is stronger. He says there is a lot of work to be done now.(13)
但 Vuong 观音 Hoang 说所做的更改将很可能感受不到另一十二个月,当在经济更加强劲。他说: 有很多的工作,现在要做的工作。

And, he adds, there could be trouble in the Vietnamese real estate market.(14)

VUONG QUAN HOANG: “Right now there are issues with the real estate market, which is something big, and the interconnection between the real estate market, the securities market and the banking system.”(15)
VUONG QUAN HOANG:"现在都与房地产市场,这是大的东西和房地产市场、 证券市场和银行系统之间互联互通的问题。"

There are already growing signs of public dissatisfaction with the economy. Recently, a group of students protested near the offices of PetroVietnam and the gas company Petrolimex.(16)
人们已经日益与经济的公众不满的迹象。最近,一群学生抗议天然气公司和燃气公司 Petrolimex 办事处附近。

One student says rising fuel prices hit poor people hardest.(17)

And there is growing anger over corruption.(18)

This student says people are expected to pay bribes, providing money or gifts to officials to get the most basic services, like hospital care.(19)

Observers have welcomed the actions Vietnam has taken. But politics and the economy are linked in the country. And how well reforms will work remains unclear.(20)

And that’s the VOA Special English Economics Report. I’m Barbara Klein.(21)
而这是美国之音特别英语经济报道。我是芭芭拉 · 克莱因。

Adapted from a report by Marianne Brown(22)
改编自 Marianne 布朗的一份报告

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