Expectations to transform business activities of Securities Depository Centers

	Foreign banks accelerate retail expansion in Vietnam
	Self-trading flourished, profits of many securities companies flourished
	Domestic investors open nearly 173,000 new securities accounts in September

Delegates took souvenir photos.

Attending the conference were Deputy Minister of Finance Nguyen Duc Chi; Chairwoman of the State Securities Commission Vu Thi Chan Phuong; Mr. Wenhua Dai, Chairman of ACG; Mr. Yadil Medeu, Chairman of the Forum of International Securities Depository Institutions (WFC). Along with that are representatives of the Asia-Pacific Securities Depository and Clearing Center, stock exchanges, banks, investment fund management companies, and Asian Development Bank (ADB), Clearstream Clearing Organization, as well as the International Securities Services Association, etc.

Speaking at the opening of the Conference, Mr. Nguyen Son, Chairman of the Board of Directors of VSDC, shared that 2023 marks the third milestone of VSDC hosting ACG Association events.

In the spirit of promoting initiatives, consolidating and innovating post-transaction activities in the context of a global economy with many fluctuations in regional politics, epidemics, etc., VSDC has proposed to organize the 2023 Annual Conference with the theme "Initiatives of Securities Depository Centers to meet global investment trends".

"Recognizing the influence and pervasiveness of ACG Association not only in the Asia-Pacific region but also in the world financial market, we greatly appreciate the knowledge, experience, and support from association members in the process of perfecting post-trade services and new services, strengthening VSDC's core activities and expanding access to technology and products according to international standards," Mr. Son said.

Speaking at the Conference, Deputy Minister of Finance Nguyen Duc Chi expressed his thanks to the delegates who are leaders of securities depository centers in the Asia-Pacific region and representatives from international financial institutions who attended ACG 25.

The Deputy Minister also said that as of August 31, 2023, the number of current securities trading accounts reached more than 7.5 million accounts.

Vietnam's stock market capitalization reached nearly 343 billion USD, at 92.58% of GDP. These are data that partly demonstrate the success of Vietnam's stock market on the path of openness, international cooperation, and learning from the regional community.

Deputy Minister of Finance Nguyen Duc Chi.

“Vietnam's stock market always aims to improve the market structure of all types of investment products; Prioritize investment in information technology infrastructure and promote digital transformation; Encourage businesses to conduct business activities close to international Environmental - Social - Governance standards (ESG criteria set); Completing the infrastructure to upgrade the market to an emerging market", the Deputy Minister emphasized.

The Deputy Minister also appreciated the role of VSDC, an essential market entity, in accordance with the Market Structure Principles (PFMI) set by the International Organization of Securities Commissions (IOSCO).

VSDC plays an important role in controlling and securing securities ownership data, ensuring smooth and continuous processing of clearing and payment activities for the stock market. To ensure VSDC's operations, participating in the Association of Depository Institutions in the Asia-Pacific region is necessary and important.

At the Conference, participants discussed identifying global investment trends and expectations of transforming business activities of Securities Depository Centers, and the Securities Depository Center's initiatives to provide faster and safer services in the context of a volatile world, and proposed many important and creative contents, contributing usefully to the operations of the entire Association and its members during this new period.

Also within the framework of the Conference program, VSDC and Indonesia Securities Depository Institution (KSEI) held a signing ceremony of a Memorandum of Understanding (MOU) between the two units.

According to the MOU content, KSEI and VSDC will endeavor to cooperate in exchanging information on operational statistics and updating market information; market operating models and related development opportunities; products and services provided by both parties; and other contents that may require mutual cooperation.