Vietnam seeks to remove obstacles in upgrade of securities market

Illustrative image (Photo: VNA)

The State Securities Commission of Vietnam (SSC) recently held an online working session with the World Bank (WB) and the Asia Securities Industry and Financial Markets Association (ASIFMA) to discuss ways to remove obstacles related to criteria for upgrading the Vietnamese securities market.

Co-chaired by SSC Chairwoman Vu Thi Chan Phuong and Senior Financial Sector Specialist of the WB in Vietnam and Coordinator of the Financial Sector Programme Ketut Kusuma, the event focused discussions on the contents of the draft decree amending and supplementing certain provisions on securities trading, transaction clearing and settlement, operations of securities companies and market information disclosure.

Speaking at the event, Phuong said the draft decree has undergone in-depth consultation through various channels, including the SSC’s website, seminars, and working sessions with domestic and foreign experts.

Feedback from ASIFMA members at the meeting is particularly valuable, as it will help refine the draft decree to align with international practices, she said.

The session addressed critical issues, such as pre-funding requirement, payment processing procedures for foreign investors, and overall settlement capability of the Vietnamese market.

By addressing these concerns, the SSC hoped to create a more attractive and efficient market for both domestic and foreign investors, ultimately paving the way for Vietnam's securities market to have its status lifted from "frontier" to "emerging"./.