March 19, 2020 / 9:08 AM / 9 days ago

Vietnam to cut, exempt state-regulated securities fees to help market - finance ministry

HANOI, March 19 (Reuters) - Vietnam on Thursday decided to cut or exempt state-regulated securities fees for more than five months to help the local stock market which is hit by the coronavirus, the Ministry of Finance said on Thursday.

The ministry said in a statement it would exempt six types of fees, such as for listing and registration, and cut nine other fees by 10%-50% for such services as securities custody, derivative transactions and position management.

"The decision came amid the complicated evolvement of the COVID-19 disease that has caused difficulties for companies and sent the stock market down," the statement said.

The stock market benchmark VN Index has plunged 24.5% so far this year.

Weeks after declaring the recovery of all 16 of its coronavirus sufferers, Vietnam has confirmed 76 infections as of Thursday, but no deaths. (Reporting by Khanh Vu; Editing by Alex Richardson)

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