Always take the initiative to develop plans to ensure the stock market runs continuously, stably and safely: Deputy Minister Nguyen Duc Chi

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What is the view of the Ministry of Finance in handling violations of collectives and individuals who are former leaders and incumbent leaders of the State Securities Commission (SCC), the Ho Chi Minh Stock Exchange (HoSE) and the Vietnam Securities Depository Centre (VSD)?

The competent authority has inspected the operations of the stock market as well as the state management agencies on securities and then identified shortcomings of cadres and civil servants in performance. The view of the Ministry of Finance is to strictly implement the conclusions of the inspection agency.

Regarding policies, the Ministry of Finance will proactively work with relevant agencies to revise and add the provisions of the law to the stock market.

Regarding officials and individuals who have committed violations, the Ministry of Finance will coordinate with competent agencies to strictly handle them.

In addition, the ministry will develop plans to strengthen the comprehensive capacity of the securities market management agency as well as the Stock Exchange and the Securities Depository Center.

Accordingly, those who have professional qualifications and ethical qualities will be arranged in important positions so that these agencies have the conditions and capacity to manage the market and run the market most effectively.

What plans will the Ministry of Finance have to ensure the operation of the State Securities Commission, the exchanges as well as the stock market?

The Ministry of Finance affirmed that the ministry will always take the initiative to develop plans to ensure the stock market runs continuously, stably and safely.

Mistakes of some individuals and some officials in the process of market management and operation are only personal, while organizations and agencies of the Ministry of Finance are always concerned to ensure smooth market operation and interests of institutional and individual participants in the stock market.

We also prepare plans, including those on personnel work, to strengthen the SSC, the Stock Exchange and the Securities Depository Center. In any case, the Ministry of Finance is very proactive in this issue.

Could you share solutions to manage the stock market and promote the technology and infrastructure which have been applied by the Ministry of Finance?

The Ministry of Finance has offered many solutions. We have repeatedly informed the markets as well as the public about solutions on mechanisms, policies and legal frameworks. The Ministry of Finance is very proactive in this work.

In which, there are solutions related to strengthening market supervision to ensure transparent market operation, promptly detect and handle violations.

We have also been proactive in speeding up the construction and completion of the information technology package in order to put information technology into operation as soon as possible to create the basis to bring the market forward.

Recently, the Ministry of Finance has directed the Stock Exchange and the SSC to implement technical solutions related to the derivatives market, related to the disclosure of proprietary trading information of securities companies.

Those solutions have also brought about a positive signal. The Ministry of Finance found that, with the stability of the macro-economy, a good macroeconomic foundation, the economic health of enterprises has recovered. If the Government's policies on economic recovery development are put into practice together with other solutions, we believe that Vietnam's stock market will develop stably, safely and sustainably.

Therefore, this year, can the market expect changes related to technology, mechanisms, policies and technology infrastructure?

I also discussed the recent solutions that the Ministry of Finance is implementing, solutions to prevent violations in the stock market such as insider trading without information disclosure. We make sure these problems will not happen in the future.

In addition, inspection and supervision solutions will be implemented more often with a larger scale to promptly detect and handle violations, making the market transparent and run in accordance with the law and gaining the trust of investors.

In terms of improving technology infrastructure, we are working with contractors and stakeholders to shorten the time to put the information technology package into operation.

As expected, no later than this year, we will put the new technology system into operation and expect that the new technology system will be the foundation to make other reforms for the market

Thank you Minister!