The Ministry of Finance (MoF) and the State Securities Commission (SSC) will create favourable conditions for the stock market to develop more breakthrough and innovative products, enhancing the quality of market offerings and attracting more investors, according to Deputy Minister of Finance Nguyen Duc Chi.
At a working session on February 27 with British analytics and data solution provider FTSE Russell, BlackRock - a world’s leading provider of investment, advisory and risk management solutions – and SSI Securities Corporation, Chi said that one of the key pillars will be perfecting the legal framework to develop the securities and capital markets. This should begin with amending documents guiding the implementation of the revised 2024 Securities Law and carrying out synchronous solutions outlined in the Securities Market Development Strategy by 2030.
Additionally, the Government aims to improve the capacity of the SSC, its officials, and the stock exchanges in enforcing securities market regulations, ensuring market operations are carried out in accordance with standards and with efficiency. The plan also includes strengthening supervision, inspection, and settlement of violations in the securities market, while popularising securities knowledge.
In the meantime, the MoF will launch IT projects soon to modernise its management and supervision over as well as operation of the stock market, he said, advocating for the rapid, substantive, and sustainable development of the market, ensuring all participants could see their benefits and work towards the goal of the market upgrade.
Chi expressed his hope for cooperation with international organisations to develop the stock market, which has made significant strides, adding the crucial point for Vietnam now is how to have the stock market status upgraded as soon as possible, given that conditions have matured.
FTSE Russell's Director of Equity Index Policy Wanming Du said FTSE Russell has always actively participated in the development process of Vietnam's securities market and wants to see progress in its journey.
The company will continue to meet with foreign institutional investors and market participants to receive feedback, evaluations, and surveys on the development steps of Vietnam's stock market. This will help formulate plans to support the development of the securities market as well as the broader capital market in Vietnam./.
