Vietnam Association of Finance Investors (VAFI) said it is expediting efforts to set up the first Credit Rating Agency (CRA) in Vietnam by their submission of a draft establishment to related government regulatory bodies.
According to the VAFI chair, despite that the fat that Vietnam’s stock market is still growing, there is still no financial organisation that can help investors evaluate shares. Therefore, giving birth to a credit rating agency is very necessary. The agency would provide it points of view on a businesses’ credit worthiness.
However, financial experts noted that the most difficult part will be obtaining detailed historical data about a company in a country where businesses fear any information disclosure.