Deputy minister urges swift reform for stock market upgrade
Upgrading can no longer be delayed, Deputy Minister of Finance Nguyen Duc Chi declared, highlighting the urgency of meeting international standards to elevate Vietnam’s market classification.
The New Year opening ceremony for the stock market held at the Ho Chi Minh City Stock Exchange (HOSE) on February 5 (Photo: VNA)
HCM City (VNA)♕ – Deputy Minister of Finance Nguyen Duc Chi has urged the securities industry to accelerate administrative reform, adopt cutting-edge technology, and continue tackling obstacles hindering market upgrade.
Addressing a New Year opening ceremony held at the Ho Chi Minh City Stock Exchange (HOSE) on February 5, Chi said the Government is working to surpass the initial economic growth target for this year, setting the stage for a double-digit growth trajectory during the 2026–2030 period.
For this vision to materialise, the securities industry must rise to the occasion, adapting swiftly to meet the demand, he said.
Outlining a clear roadmap for all involved, from the State Securities Commission (SSC), stock exchanges, to the Vietnam Securities Depository and Clearing Corporation, he said a key priority is to finalise the legal framework and guidelines for enforcing new regulations under the amended Securities Law passed in 2024.
Market regulators were tasked with actively seeking and inviting large, quality enterprises to list on the bourses rather than passively awaiting applications.
Upgrading can no longer be delayed, Chi declared, highlighting the urgency of meeting international standards to elevate Vietnam’s market classification. Doing so will unlock significant benefits for all stakeholders – local and foreign investors alike, while boosting foreign capital inflows into Vietnam’s burgeoning stock market, he said.
In response, SSC Chairwoman Vu Chi Chan Phuong pledged to strengthen coordination among regulators, businesses and investors to foster sustainable growth, reinforcing the market’s role as an effective medium- and long-term capital mobilisation channel for the economy.
Meanwhile, HOSE Acting Chairwoman Nguyen Viet Ha announced that a new information technology system has successfully completed testing with all market participants and is now in its final preparation phase for the coming launch, promising an array of new products and services.
The year 2024 ended on a high note for Vietnam's securities market, marked by stability and safety. The VN-Index surged by 12.1% compared to the end of 2023, while market capitalisation reached 5.21 quadrillion VND (207 billion USD), reflecting a 14.3% annual increase. Vietnam's stock market liquidity ranked third in Southeast Asia, behind only Thailand and Singapore.
Encouragingly, the corporate bond market also showed signs of recovery, buoyed by growing investor confidence./.
The year 2024 has been a pivotal one for Vietnam’s stock market, marked by significant legislative changes, technological advancements and dynamic shifts in investor behaviour. Below, Vietnam News listed ten key events that have shaped the market this year.
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