Promote information transparency to increase large-scale investors in stock market

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Deputy Minister of Finance Nguyen Duc Chi.

Could you tell us about benefits of investors, listed companies as well as the market when Vietnam's stock market is upgraded?

The upgrade of Vietnam's stock market from frontier market to emerging market is both a goal and a task not only of the Ministry of Finance or the State Securities Commission (SSC), but also the task, the goal and the interests of all market participants.

The upgrade of Vietnam's stock market will be a favorable condition and motivation for us to develop the capital market, attract investors, and facilitate businesses and market participants to have more opportunities for mobilization of investment resources and socio-economic development.

The Ministry of Finance has set a goal of upgrading from frontier market to an emerging market by 2025. During implementing tasks, in order to achieve the goal, the efforts of the Ministry of Finance or the State Securities Commission alone is not enough, there need coooperation of member units and listed enterprises in implementing tasks, solutions and conditions such as: pre-trading margin, transparency and information disclosure, information technology system conditions, strengthening market surveillance capabilities to meet conditions and requirements of rating organizations and achieve the goal.

Could you share more specifically about removing bottlenecks in regulations on pre-trading margin or information disclosure requirements for listed businesses?

We coordinate with market members, businesses and other entities to review and perfect institutions and regulations on pre-trading margin with appropriate steps. The improvement of regulations related to trading margin aims to create favorable conditions for domestic and foreign investors to participate in the market. We actively resolve this matter.

Regarding the information transparency in the market, we amend relevant regulations. We require listed companies to urgently disclose their information on the market in both Vietnamese and English. Accordingly, creating conditions for foreign investors as well as domestic investors to exploit and analyze information in a transparent manner to increase the attractiveness of the market to investors, thereby increasing large-scale investors and meeting requirements of emerging markets.

The process of upgrading the market requires the cooperation of many parties. Could you please give us your assessment of the preparation of listed companies in the process?

I think that the listed companies have prepared for information transparency as well as transparent information disclosure in Vietnamese and English. In fact, the process of preparing conditions to achieve the goal of upgrading Vietnam's stock market has been raised many times from official information as well as in seminars and discussions between the Ministry of Finance, the State Securities Commission, market members and listed companies. The listed companies have understood what they need to do and prepare to participate in this process that will not only bring benefits for the market, investors but also benefit for their companies.

What regulations or incentives will the Ministry of Finance provide for investors to attract investment into the Vietnamese stock market?

Regarding incentives, we have researched to develop and provide higher incentives on fees and charges to attract investors as well as businesses to participate in the Vietnamese stock market.

In addition, we will implement administrative reform to minimize procedures and reduce compliance costs for investors as well as businesses participating in the market.

Sincerely thank you!