Focusing on five tasks so that the securities industry continues to develop in the face of intertwined opportunities, challenges

VCN - Deputy Minister of Finance Nguyen Duc Chi raised five tasks that need to be focused in 2024 so that the securities industry continues to develop in the face of intertwined opportunities and challenges.
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Deputy Minister Nguyen Duc Chi and leaders of units in the securities industry perform the gong-beating ceremony to begin the first trading session following the Tet (Lunar New Year).
Deputy Minister Nguyen Duc Chi and leaders of units in the securities industry perform the gong-beating ceremony to begin the first trading session following the Tet (Lunar New Year).

On February 19, 2024 (January 10, Giap Thin year), the Ho Chi Minh City Stock Exchange (HoSE) organized a gong-beating ceremony to begin its first trading session after the Tet. This is an annual traditional activity for management agencies and market members to meet together to express their determination to build a growing Vietnamese stock market, contributing to the country's economic growth.

Ms. Nguyen Thi Viet Ha, Acting Chairwoman of the HoSE, highlighted in 2023, although the socio-economic situation in the country and in the world was complicated, thanks to the Government’s flexible and dynamic policies has maintained macroeconomic indicators, thereby actively supporting the stock market's stable growth and creating confidence for investors. At the end of the last trading session of 2023, the VN-Index closed at 1,129.93 points, up 12.2% as compared with the corresponding time in 2023, and the market capitalisation on the HoSE rose 13.4% to VND4.56 quadrillion (US$185.83 billion).

In 2023, with the principle of "Safety - Efficiency - Sustainability", HoSE has achieved a number of results in market organization including trading activities was smooth; supervision work was strengthened; the constructive spirit was towards sustainable development and the listed business community. The information technology project with the Korean contractor also achieved some significant progress, the Factory Acceptance Testing (FAT) finished and the system is considered to run in the near future.

Speaking at the ceremony, Deputy Minister of Finance Nguyen Duc Chi highly appreciated the important achievements of the stock market in 2023, the discipline of the market has been improved and the rights and benefits of the market participants have been increasingly guaranteed, strengthening the confidence of investors.

In 2024, in order for the stock market to continue to develop in the face of intertwined opportunities and challenges, the Deputy Minister of Finance has requests the securities industry to focus on five tasks.

The first is continuing to review, amend and supplement legal regulations related to securities and the stock market, ensuring strictness, consistency and efficiency towards the stable development.

The second is ensuring stable, safe and smooth operation of the trading, depository, and clearing system on the stock market.

The third is maintaining market discipline, improving the effectiveness of inspection and supervision, promptly detecting and strictly handling all cases of violation, ensuring the legitimate rights and interests of participating, strictly preventing market abuse.

The fourth is developing the stock market substantively, offering solutions aimed at upgrading the market as soon as possible. Both state management agencies, market operating units, market members and listed businesses must proactively develop and concretize solutions and steps to help the market move to new stage of development.

The fifth is providing information about securities and the stock market in the best and most transparent way so that the investors can fully understand and voluntarily comply with legal regulations on the stock market and maintain rules.

To achieve the above goals, it requires drastic and in-depth guidance from management agencies as well as the determination and efforts of market members. Stock Exchanges and Vietnam Securities Depository Corporation will be the leading units and proactively work effectively with management agencies in managing the market safely and effectively on the stable macroeconomic foundation. The Ministry of Finance will continue to support and create the most favorable conditions for the units to successfully complete their assigned tasks.

Mr. Hoang Van Thu appointed as Vice Chairman of Securities Commission Mr. Hoang Van Thu appointed as Vice Chairman of Securities Commission

VCN – On the afternoon of March 20, 2023, the State Securities Commission (SSC) held a ceremony ...

Accepting the direction of Deputy Minister of Finance Nguyen Duc Chi, Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, said the State Securities Commission would concretize the instructions with an action plan and propose specific solutions and tasks, and strive to best complete assigned tasks so that the stock market can have stronger innovation, effective operations and sustainable development in 2024 in accordance with the socio-economic development targets of the Party and State.

By Nguyen Hien/ Huyen Trang

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