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Deputy Minister of Finance Nguyen Duc Chi speaks at the Gong-beating ceremony to open the stock trading at HOSE

In her opening speech at the ceremony, Ms. Nguyen Thi Viet Ha, Acting Chairwoman of the Ho Chi Minh City Stock Exchange, said that in 2024, although the world economic situation still had many unstable factors, under the close direction and management of the Government, the GDP growth rate of the Vietnamese economy exceeded the plan. Thanks to that, the Vietnamese stock market in 2024 continued to maintain stable, safe, smooth and growing operations.

At the end of the last trading session of 2024, the VN-Index reached 1,266.78 points, up 12.11% compared to 2023, ranking third in the region after the Singapore and Malaysia markets.

The liquidity of the Vietnamese stock market reached VND 18,685 billion/day, up 22.4% compared to 2023, ranking 3rd in the region after the Thai and Singapore markets.

The market capitalization of stocks on HOSE reached about VND 5.21 million billion, up 14.3% compared to the end of the previous year.

2025 is a milestone marking 25 years of operation of HOSE and the Vietnamese stock market.

Facing the new opportunities of the Vietnamese stock market, HOSE continues to inherit and promote the achieved results, resolutely implement solutions and tasks, including the goal of putting a new information technology system into operation to offer more new products and services to the market, ready for upgrading the stock market.

Deputy Minister of Finance Nguyen Duc Chi beats the Gong to open the first trading session of Spring

Speaking at the ceremony, Deputy Minister of Finance Nguyen Duc Chi highly appreciated and commended the efforts of the State Securities Commission, the Stock Exchanges, ministries, central and local agencies, the business community, market members and investors who have joined hands and unanimously with the management agencies to help the stock market operate safely, stably, transparently and effectively in 2024.

Commenting on the new year, the Deputy Minister affirmed that 2025 is a year with many important milestones for the country, a pivotal year to end the socio-economic development plan for the 2021 – 2025 period.

With important changes and policies of the Party, the revolution of apparatus streamlining to ensure efficiency and effectiveness, the Government is also building and implementing solutions to strive to bring the economic growth targets in 2025 to a higher level than the proposed plan, creating a premise for the target of double-digit GDP growth in the 2026 – 2030 period.

To achieve these goals, the Deputy Minister directed the Securities industry to make more efforts, focusing on implementing strong solutions so that the market continues to develop stably and sustainably, affirming and promoting its role as an important and main medium- and long-term capital mobilization channel of the economy.

Firstly, proactively complete the legal framework, promptly issue documents guiding the implementation of the amended Securities Law; deploy solutions to implement the Stock Market Development Strategy to 2030, reform administrative procedures to create maximum conditions for organizations listing and registering for stock trading, capital mobilization, operations of intermediary financial institutions and investors.

Secondly, ensure the stock market operates stably, safely, continuously, smoothly, and soon put new information technology systems into operation to offer new products and services, and improve market quality.

Thirdly, meet the conditions and criteria for the Vietnamese stock market to be upgraded to an emerging market in 2025, creating a new step forward for the stock market, bringing benefits to market participants, and increasing foreign capital flows into the Vietnamese stock market.

Fourthly, promote compliance with the law, continue to strengthen supervision and maintain order, discipline, and market discipline; strictly handle violations, profiteering, and manipulation, ensure the stock market operates more and more transparently and healthily, and protect the legitimate interests of organizations and individuals in the market.

Fifthly, strengthen the search and encouragement of quality and potential enterprises to list, expand the market, and create high-quality goods on the stock market.

Also at the Gong-beating ceremony, on behalf of the Securities industry, Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, sincerely thanked the leaders of the Ministry of Finance for their attention, encouragement, and close direction;

At the same time, she committed to making the greatest efforts and determination to effectively implement the proposed solutions and action plans, implement solutions to achieve the set goals, ensure the smooth and effective operation of the stock market, create conditions for genuine listed enterprises to operate well on the stock market, and soon complete the goal of upgrading the stock market.