Legal "support" for the stock market 2023

VCN - In 2023, the State Securities Commission (SSC) will continue to restructure the stock market, and strengthen the management of public companies and securities trading organizations. Promote inspection, supervision and handling of violations in the context of increasingly sophisticated violations in the securities sector.
Developing a transparent, healthy, fair and sustainable stock market: Minister of Finance Developing a transparent, healthy, fair and sustainable stock market: Minister of Finance
Foreign investors remain optimistic about Vietnamese stock market Foreign investors remain optimistic about Vietnamese stock market
Positive prospects for Vietnam’s stock market this year Positive prospects for Vietnam’s stock market this year
Legal

Management agency sets goal of building a safe, transparent and efficient market

In 2022, Vietnam's stock market suffered from challenges when it experienced many strong fluctuations due to unpredictable "aftershocks", beyond the forecast from the international and domestic markets.

According to the Minister of Finance, 2022 was a successful year of overcoming difficulties for Vietnam's stock market while maintaining stable, safe and smooth operations.

At the beginning of 2023, the stock market has shown relatively positive signals. Ending January, VN-Index sees a growth of 10.34% compared with December 2022 to 1,111 points. During the month, the sector indexes recorded an increase. Notably, the index of the raw materials industry rises by 19.29%; financial sector up 13.13%; industry up 12.18%. Foreign investors made a net purchase of more than VND2,702 billion.

According to the SSC’s orientation, the SSC will continue to restructure the stock market, and strengthen the management of public companies and securities trading organizations. Promote inspection, supervision and handling of violations in the context of increasingly sophisticated violations in the securities sector.

In the year, the SSC will continue to conduct an overall review of the provisions of the Law on Securities and guiding documents for consideration and submission to the competent authorities for supplementation and amendments in line with the new operation of the market.

In addition to directing units to expedite ongoing projects, especially for new information technology systems, management agencies also actively implement solutions to attract foreign investment in the new context, in which the highlight is the upgrading of the stock market.

In the context that the market still faces many difficulties, the SSC will closely monitor developments in the economic and political situation, and policy moves of countries around the world, and assess the impact and influence on Vietnam’s stock market to promptly take appropriate solutions, ensuring the market’s stable and transparent development.

Regarding the inspection and handling of violations in the market, Ms. Ta Thanh Binh, Director of the SSC’s Market Development Department, said that in the long term, the handling of violations by authorities will increase the confidence of domestic and foreign investors as well as the long-term sustainable growth of the market. Especially, for foreign investors, the stock market can bring large profits and also occurs violations. Therefore, creating a safe, transparent and efficient market is the biggest goal of the regulator.

Quickly complete KRX information technology system

In 2023, the issuance of a decree amending, supplementing and suspending the effect of a number of provisions in the decrees on the offering and trading of privately-placed bonds attracts the market.

According to experts, if the decree is issued in January, the amendments in this decree will be a bright spot for the stock market and the economy. It will help reduce cash flow pressure when payment is due, and margin call pressure if the issuer uses shares as collateral for loans, and improve the asset quality of the bondholders listed on the stock market such as banks, securities companies and other companies by minimizing default risk of bond issuers if there are alternative methods to resolve or convert the issued bonds.

At the same time, avoid the domino effect and impact on sentiment if the issuer defaults amid the unstable interest rates and economic growth in the domestic and external markets.

Minister Ho Duc Phoc said that in 2023, the Ministry of Finance has directed the SSC and relevant agencies to implement key tasks and solutions. Accordingly, the SSC needs to improve the legal institutions, quickly review legal documents to perfect the legal system, ensure the stable, smooth and safe operation of the market.

Develop specific plans and solutions to effectively implement the Stock Market Development Strategy until 2030 when approved by the Prime Minister. Restructure the stock market based on four pillars including market organization; commodity base; investor base; and securities trading organizations.

The SSC and units of the ministry jointly research and provide solutions to enhance the quality of financial information and audit reports in the market, improve service quality and responsibility of intermediary service providers such as securities companies, fund management companies, auditing companies, credit rating agencies, etc. in the market.

“The units need to further strengthen the application of modern information technology to more effectively support the management and supervision of the market, as well as better serve the needs of businesses and investors. Quickly complete the KRX information technology system for transparent and efficient transactions," said the Minister.

In addition, the securities sector should promote information, disseminate and training of investors, especially individual investors, to develop institutional investors; expedite international cooperation in combination with accelerating the process of upgrading the stock market from marginal to emerging to ensure the set objectives; remove difficulties and obstacles for enterprises in terms of legal procedures, markets, capital sources for enterprises to develop, promote disbursement of public investment and construction projects, traffic and electricity.

By Hoai Anh/Ngoc Loan

Related News

Diversify and innovate securities products to attract foreign investors

Diversify and innovate securities products to attract foreign investors

VCN - Mr. Kojima Kazunobu, Chief Advisor of the Japan International Cooperation Agency (JICA), said that Vietnam needs to make more efforts in developing the stock market in both quality and quantity to become a potential market, attractive to foreign investors.
Important step to soon upgrade stock market

Important step to soon upgrade stock market

VCN - According to experts, the Ministry of Finance's issuance of Circular No. 68/2024/TT-BTC dated September 18, 2024 is an important step in the process towards the goal of improving the quality of the Vietnam’s stock market.
Curbing stock market manipulation

Curbing stock market manipulation

VCN - Amending and supplementing a number of articles of the Law on Securities is necessary to ensure that the securities market operates more transparently and effectively, to ensure the rights of investors, to prevent fraudulent behavior, and to create conditions for the development of the securities market.
Perfecting the legal framework to promote upgrading the stock market

Perfecting the legal framework to promote upgrading the stock market

VCN - After receiving comments from affected subjects including organizations, individuals, and market members, the State Securities Commission has just completed a draft circular amending 4 circulars regulating: stock trading on the stock exchange system; clearing and settlement of stock exchanges; operations of securities companies and information disclosure on the stock market.

Latest News

Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3.92%.
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

VCN - Discussing in groups about the project "1 law amending 7 laws" in the financial sector according to the program of the 8th Session on October 29, 2024, National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigned by the Prime Minister.

More News

State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

VCN - According to the report sent to the National Assembly before the 8th Session of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Stipulate implementation of centralized bilateral payments of the State Treasury at banks

Stipulate implementation of centralized bilateral payments of the State Treasury at banks

VCN - The Ministry of Finance (MOF) gathers feedback on the draft Circular regulating the management and use of accounts of the State Treasury opened at the State Bank of Vietnam (SBV) and commercial banks.
Rush to finalize draft decree on public asset restructuring

Rush to finalize draft decree on public asset restructuring

VCN - According to the Ministry of Finance, the draft Decree regulating the rearrangement and handling of public assets is being urgently completed by the Ministry of Finance to submit to the Government for promulgation.
Inspection report on gold trading activities being complied: SBV

Inspection report on gold trading activities being complied: SBV

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.
Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

Budget revenue in 2024 is estimated to exceed the estimate by 10.1%

VCN -The Government estimates that state budget revenue in 2024 will exceed VND 172.3 trillion, up 10.1% over the estimate, of which tax and fee revenue will reach 13.1% of GDP.
Ensure timely and effective management and use of public asset

Ensure timely and effective management and use of public asset

VCN – In order to promptly and effectively implement public asset management and use, ensuring compliance with legal regulations, the Ministry of Finance has just issued an official dispatch requesting ministries, branches and localities to comply with regulations in the Government’s Decree No. 114/2024/ND-CP dated September 15, 2024.
Accelerating decentralization in public asset management

Accelerating decentralization in public asset management

VCN - Amending the Law on Management and Use of Public Assets aims to improve regulations on accelerating decentralization and improving efficiency in management and use of public assets, and promoting financial resources, ensuring that the unified application the Law on Management and Use of Public Assets and other legal documents.
Difficulty in finding banks eligible to receive compulsory transfers

Difficulty in finding banks eligible to receive compulsory transfers

VCN - Reporting to the National Assembly, the State Bank of Vietnam (SBV) said that one of the difficulties in restructuring the credit institution system is the long process of finding and negotiating banks eligible to receive compulsory transfers.
Businesses can choose a suitable electronic invoice model generated from the cash register

Businesses can choose a suitable electronic invoice model generated from the cash register

VCN - The Ministry of Finance said that individual business households can choose a suitable model to apply electronic invoice solutions from cash registers, depending on the number of invoices used in the year, in the month and the current status of software solutions and technical infrastructure.
Read More

Your care

Latest Most read
Continue to handle cross-ownership in banks

Continue to handle cross-ownership in banks

VCN - The situation of excess share ownership, cross-ownership between credit institutions (CIs), CIs and enterprises, although has decreased significantly compared to previous periods, is still complicated and requires continued inspection and control.
Striving for average CPI not to exceed 4%

Striving for average CPI not to exceed 4%

VCN - According to the report of the Ministry of Finance, there are still some factors that put pressure on price levels in the remaining months of 2024, so the Ministry has updated 2 scenarios of average inflation in 2024 increasing in the range of 3.7-3
Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

Delegating the power to the government to waive, lower, or manage late tax penalties is suitable

National Assembly delegates proposed that the Government should be assigned to make specific regulations on decentralization, granting the right to exempt and reduce taxes, and handling penalties for late payment of taxes...
Removing difficulties in public investment disbursement

Removing difficulties in public investment disbursement

VCN - According to the report of the Investment Department (Ministry of Finance), the estimated disbursement from the beginning of the year to October 31, 2024 is VND 355,616.1 billion, reaching 47.43% of the 2024 plan, reaching 52.29% of the plan assigne
State-owned commercial banking sector performs optimistic growth, but more capital in need

State-owned commercial banking sector performs optimistic growth, but more capital in need

According to the report of the Government on investment, management and use of state capital in enterprises nationwide in 2023, the business performance of the state-owned commercial banking sector achieved positive growth.
Mobile Version