Macroeconomic stability helps push stock market development: official

Illustrative image (Photo: VNA)

Macroeconomic stability will be a good foundation for developing the stock market, Deputy Minister of Finance Nguyen Duc Chi said at the Government’s regular press conference on October 29 in Hanoi.

About the reasons behind the plunge of the stock market in the recent past, Chi said the global stock market also fell sharply due to the impact of high inflation, changes in monetary and fiscal policies in many countries across the world, and this situation also has a direct impact on Vietnam's stock market.

He added that adjustments to the monetary policy, interest rate hikes and strict management of the credit room have affected the cash flows.

Deputy Minister of Finance Nguyen Duc Chi speaks at the press conference (Photo: VNA)

The official said the stock market will operate stably, safely and transparently if businesses and market members strictly implement information disclosure.

Violations will be strictly handled according to the provisions of law, while attention will be paid to strengthening inspection to monitor the market, listed companies, securities companies, fund management bussiness and investors.

In the long term, the Ministry of Finance has planned to review the Law on Securities, while promote the restructuring of the stock market to ensure the capacity of securities and fund management companies, he went on./.