Vietnamese stock market becomes reliable destination for investors worldwide: official

Chairwoman of the State Securities Commission Vu Thi Chan Phuong speaks at the event. (Photo: Review of Finance)

The Vietnamese stock market has become a reliable destination for many investors worldwide in recent years, especially those in the Asia-Pacific, said Chairwoman of the State Securities Commission Vu Thi Chan Phuong.

Addressing the 48th Annual Meeting of the International Organisation of Securities Commissions (IOSCO) held in Bangkok, Thailand from June 13-15, Phuong said the Vietnamese stock market has witnessed impressive developments in recent years, maintaining a vibrant performance and good liquidity, and increasingly asserting itself as an important long-term capital mobilisation channel for the economy and businesses. It has also become an attractive investment channel of the public, attracting a growing number of domestic and foreign investors.

Not only enjoying more favourable conditions in capital mobilisation, Vietnamese firms have also made significant progress in governance, transparency and sustainable development, she said.

In order to develop the stock market towards quality and sustainability, Vietnam is striving to upgrade its market classification from frontier to emerging, persistently pursuing market restructuring based on four main pillars of commodity base, market organisation, investor base, and securities business organisation.

The 48th Annual Meeting of IOSCO comprises a series of annual meetings of the Asia-Pacific Regional Committee (APRC), the Africa-Middle East Regional Committee, the Inter-American Regional Committee, the European Regional Committee, the Growth and Emerging Markets Committee (GEMC), the Presidents' Committee (PC), and the General Assembly.

Illustrative image (Photo: baochinhphu.vn)

During the meeting, the Vietnamese delegation attended the meetings of the APRC, the GEMC and the PC, as well as the expanded sessions of IOSCO.

This year, IOSCO also collaborated with the Securities and Exchange Commission of Thailand to organise four major workshops on the frontier markets and the trend of moving towards emerging markets, reshaping the future of finance and digital assets, capital markets - driver for a more sustainable and green world, and raising awareness and investment in a digitalised world.

IOSCO was established in 1983. Its member organisations oversee more than 95% of the global securities market in over 130 economies. The GEMC represents 75% of the full and official members of IOSCO. Each market can only have one full and official member participating in IOSCO, while the remaining agencies can become affiliate members.

The State Securities Commission of Vietnam was officially recognised as a full and official member of IOSCO at the 26th Annual Meeting held in Stockholm, Sweden on June 26, 2001./.