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IFC and Hochiminh Stock Exchange Join 42 Stock Exchanges Worldwide to Ring the Bell for Gender Equality

Ho Chi Minh City, Vietnam, March 8, 2017 —IFC, a member of the World Bank Group, and the Hochiminh Stock Exchange (HOSE) are joining stock exchanges around the world in a global initiative to “Ring the Bell for Gender Equality” - a partnership that highlights the economic imperative of empowering women in the workplace, marketplace, and community.
From Ho Chi Minh City, representatives of HOSE, IFC and UN Women, together with senior businesswomen will ring the opening bell to mark International Women’s Day. They will speak on the continuing challenges of achieving gender equality and how the private sector can contribute to achieve this end.
“HOSE is proud to be participating in this meaningful event advocating gender diversity,” said Tran Van Dzung, HOSE Board Chairman. “Global statistics show businesses outperform with women, and investors are increasingly looking to invest in companies that incorporate sustainable investment strategies and promote diverse leadership.”
IFC works with companies in developing countries to generate opportunities for women while also contributing to companies’ bottom lines, productivity, and growth. By leveraging relationship with about 1,000 financial institutions and private equity funds, IFC helps expand access to finance for women entrepreneurs.
“At IFC, we believe gender equality is central to driving the global economy and the private sector has an important role to play in this,” said Kyle Kelhofer, IFC Country Manager for Vietnam, Cambodia, and Lao PDR. “Specifically, the presence of women on boards and in leadership positions has a positive impact on financial performance, shareholder value and sustainability.”
Currently, close to 30 percent of directors nominated by IFC on the boards of its investee companies are women.
Now in its third iteration, “Ring the Bell for Gender Equality” focuses on raising awareness on the business case for women’s economic empowerment and the opportunities for the private sector to advance gender equality, which is a key UN Sustainable Development Goal . The event is a partnership of IFC, the Sustainable Stock Exchanges (SSE) Initiative , the UN Global Compact , UN Women , Women in ETFs , and the World Federation of Stock Exchanges .
IFC, in partnership with Switzerland’s State Secretariat for Economic Affairs (SECO), is helping Vietnam companies put in place good corporate governance practices by raising awareness, building capacity, developing guidelines, and providing firm-level advisory services.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org
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About the Hochiminh Stock Exchange
Established in July 2000, Hochiminh Securities Trading Center (HoSTC) – now known as Hochiminh Stock Exchange (HOSE) – was the first centralized stock market in Vietnam. The establishment of HoSTC brought the Vietnam securities market to regulated stage of operation, aiming at building an effective and long-term capital mobilization channel for economic development. On August 2007, HoSTC was transformed to HOSE, bringing Vietnam securities market closer to other developed markets within the region and all over the world.
After nearly 16 years, HOSE currently has about 319 listed companies, 34 bonds and 1 ETFs with total market capitalization of over USD 60 billion and the daily trading value has reached more than USD 105 million.
Currently, HOSE is focusing on researching and launching new products such as ETF, REIT, Covered Warrant as well as corporate bond market and new indices (including ESG Index, High Dividend Yield Index). For more information, visit www.hsx.vn