Deputy Minister of Finance Nguyen Duc Chi provides information related to the upgrading of the Vietnamese stock market - Photo: HONG QUANG
At the government press conference on October 3rd, the Deputy Minister of Finance Nguyen Duc Chi provided information related to the upgrading of the Vietnamese stock market.
According to Mr. Chi, the development of the Vietnamese stock market is based on the strategy and objectives for sustainable market development approved by the Prime Minister .
"The recent official upgrade of the Vietnamese stock market from a frontier market to a secondary emerging market by FTSE Russell shows that the market has become attractive, creating a need for long-term market development and meeting capital mobilization requirements," the Deputy Minister of Finance stated.
To maintain its ranking and achieve higher development, the Ministry of Finance has set a key task: continuing to improve the institutional framework.
The government is submitting to the National Assembly for approval the Law amending and supplementing a number of articles of the Securities Law during this session, in order to meet practical requirements as the market has just been upgraded. This aims to meet the requirements of scientific and technological development, the application of artificial intelligence and new technologies, the introduction of controlled trials, and the development of the market in line with regional and global standards.
In addition, consideration will be given to submitting proposals to the National Assembly to reduce business conditions and administrative procedures, creating more favorable conditions for market participants.
Another task mentioned by Deputy Minister Nguyen Duc Chi is to continue developing solutions to increase capital supply and diversify goods on the market. The Ministry of Finance will submit to the Government regulations related to IPOs to facilitate listing of companies, and implement solutions to encourage large-scale, well-managed foreign-owned enterprises to list on the stock market.
Mr. Nguyen Duc Chi also stated that he will consider submitting a proposal to the National Assembly to amend the Investment Law to clarify and facilitate foreign investors' participation in the stock market by determining the market participation ratio for listed companies. From there, solutions will be proposed for issuing bonds through notarization, private placements, diversifying securities, and developing derivative bonds such as green bonds…
Creating supply will generate investment demand in the market, with the solution being to develop a system of institutional investors in the market, increasing the proportion of institutional investors in the market, in order to create sustainability.
Regulations related to market access and foreign investors continue to be reviewed, streamlined, and simplified to facilitate investor participation. The Ministry also has a separate plan to popularize and train domestic investors, aiming to enable individual investors to access knowledge, experience, and higher-level skills when participating in the market.
The Ministry of Finance is committed to all objectives outlined in the strategy approved by the Prime Minister, thereby developing a market that meets the requirements of being an important channel for mobilizing medium and long-term capital for the economy .
HONG QUANG
Tuoitre.vn
Source: https://tuoitre.vn/viet-nam-duoc-nang-hang-chung-khoan-bo-tai-chinh-noi-gi-ve-buoc-tiep-theo-100261003122037592.htm#content
