The Vietnam Commodity Exchange (VNX) is the first commodity exchange to be license to operate within Vietnam under the decision 4596/GP-BCT of the Ministry of Industry and Trade (MoIT).
With a capital of up to $7.5 million, it is allowed to exchange all types of commodities that are regulated by the MoIT.
VNX will manage transactions and provide businesses with financial tools, such as, trade insurance and ensuring a balance between supply and demand.
It will also provide businesses with information on current industrial and economic situations, as well as any consumer demands.
In addition, this commodity exchange will help producers insure against any pricing risks and be able to connect with other commodity exchanges around the world.
In a statement, Nguyen Duy Phuong, CEO of the Vietnam Commodity Exchange, commented: “The launch of the Vietnam Commodity Exchange is an important milestone for Vietnam as it provides a new investment channel in Vietnam's commodity markets.
(Source: http://www.commodityonline.com/news/Vietnam-opens-first-commodity-exchange-35559-3-1.html)
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