The Ministry of Industry and Trade on May 3 issued a licence to the INFO Commodity Exchange (INFO) owned by Ocean Group.
The INFO exchange, the second of its kind in the country, will trade in steel, rubber, coffee and agricultural goods.
It will provide a direct channel between manufacturers and the market to end speculation of goods prices. It will regulate commodity standards, link the domestic and international markets, and integrate the Vietnamese goods market globally.
INFO will help Vietnamese businesses, in particular farmers, boost production and their competitive capacity in the global market.
The world’s first commodity exchange was established in 1948. There are 50 exchanges in the world, 30 from Asia.
Vietnam’s first commodity exchange is in Ho Chi Minh City.