Deputy Minister highlights measures to improve quality of Việt Nam's stock market

Deputy Minister highlights measures to improve quality of Việt Nam's stock market

The Ministry of Finance will expand the supply of capital and diversifying market products. It has submitted to the Government regulations on initial public offerings (IPOs) linked to listing, making it easier for businesses to list shares, while encouraging large companies with sound corporate governance to list on the stock market.

An investor follows market movements via his mobile phone. Deputy Minister of Finance Nguyễn Đức Chi has outlined four key groups of tasks to maintain the upgraded status of Việt Nam’s stock market. — VNA/VNS Photo Trần Việt

Deputy Minister of Finance Nguyễn Đức Chi outlined four key groups of tasks to maintain the upgraded status of Việt Nam’s stock market and further improve its quality at the Government’s regular September press briefing on October 3.

First, efforts will continue to improve the legal framework. The Government is expected to submit a draft law on amendments and supplementations to a number of the revised Law on Securities to the 16th National Assembly for consideration and approval at its second session this month.

The amendments aim to meet practical requirements following the market status upgrade and align with developments in science and technology, artificial intelligence and digital transformation, while exploring controlled pilot schemes.

Certain business conditions and administrative procedures will be reduced to facilitate market participation, he said.

Second, focus will be placed on expanding the supply of capital and diversifying market products. The ministry has submitted to the Government regulations on initial public offerings (IPOs) linked to listing, making it easier for businesses to list shares, while encouraging large companies with sound corporate governance to list on the stock market.

It has also proposed amendments to the Law on Investment to clarify and facilitate foreign investors’ participation by determining foreign ownership limits at enterprises, including listed companies.

The ministry has further reported measures to develop the corporate bond market, diversify products, encourage issuance of bonds, including green bonds, and develop derivatives.

Third, it will boost investment demand and develop the institutional investor base, increasing the proportion of institutional investors in Việt Nam’s stock market. This is among the key tasks for sustainable market development, Chi noted.

The Ministry of Finance will coordinate with the State Bank of Vietnam and other ministries and sectors to review and cut administrative procedures, facilitating foreign investors’ access to the Vietnamese stock market. It will also finalise the central counterparty (CCP) clearing mechanism, helping maintain the upgraded status and paving the way for further market development.

Fourth, it will continue modernising and improving market management and supervision, ensuring transparency and promptly preventing, detecting and handling violations while safeguarding the legitimate rights and interests of market participants.

Regarding scenarios and measures to achieve the double-digit growth target in 2026, the official said the socio-economic situation in the third quarter and first nine months continued to produce positive results, while the macroeconomy remained basically stable. GDP is estimated to have grown 9.95 per cent year-on-year in the third quarter and 9.01 per cent in the first nine months.

Many sectors continued to post positive growth. Agriculture, forestry and fisheries grew 4.02 per cent; the index of industrial production is estimated to have risen 12.3 per cent; and total retail sales of goods and consumer service revenue increased 13.4 per cent.

Twelve of the 34 localities recorded double-digit GRDP growth in the first nine months, he added.

Chi said for the fourth quarter and the full year, the Government will remain committed to the double-digit growth targets and require ministries, sectors and localities to implement decisive and effective measures to fulfil their annual plans.

He highlighted a number of solutions, including flexibly managing and closely coordinating monetary, fiscal and other macroeconomic policies to control inflation, maintaining macroeconomic stability and support growth, ensuring energy security and preventing shortages of electricity and petrol, improving institutions, stepping up public disbursement, and promoting science-technology development and innovation. 

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