At a government press conference on 3/10, Deputy Minister of Finance Nguyen Duc Chi recognized the stock market's upgrade by FTSE Russell last september as a significant step forward acknowledged by international financial organizations.

To maintain its ranking and strive for a higher level, the Ministry of Finance will continue to improve its institutional framework, with plans to submit the amended Securities Law to the National Assembly for approval during its october session. This amendment aims to meet new requirements following the market upgrade, as well as to adapt to advancements in science and technology, artificial intelligence, and digital transformation. Controlled regulations will also be researched to ensure Vietnam's stock market develops in line with global trends.

Concurrently, the Ministry of Finance will continue to propose reducing business conditions and administrative procedures, fostering a more favorable environment for market participants.

Deputy Minister of Finance Nguyen Duc Chi speaks at the government press conference on 3/10. *Photo: VGP*

The ministry is focusing on four key solution groups to achieve these goals. The second group of solutions focuses on increasing capital supply and diversifying market products. The Ministry of Finance has submitted regulations concerning initial public offerings (IPOs) linked to listing to the government, aiming to facilitate companies in bringing their shares to the market. The ministry also has measures to encourage large, well-governed businesses, including foreign direct investment (FDI) enterprises, to list on the market.

Concurrently, the Ministry of Finance will submit amendments to the Investment Law to the National Assembly to clarify foreign investor ownership ratios in businesses, thereby facilitating foreign participation in the market. Regarding the bond market, the regulatory body has reported solutions for both public and private issuance to the government. Various types of bonds and derivatives will also be diversified, with a priority on encouraging the issuance of green bonds.

Additionally, the operator is focusing on solutions to increase the proportion of institutional investors. According to the Deputy Minister, after creating a supply of products, the market requires corresponding demand, which is a crucial factor for sustainable development. For foreign investors, the Ministry of Finance is coordinating with the State Bank of Vietnam and other ministries and agencies to review and reduce administrative procedures, making it more convenient for foreign entities to access the market. The ministry is also developing a project to popularize and train domestic investors. The objective is to help individual investors access knowledge and enhance their capabilities.

The final group of solutions involves enhancing the effectiveness of supervision, ensuring transparency, timely preventing and detecting violations, and imposing strict penalties to protect the legal rights and interests of market participants.

According to Mr. Chi, these four groups of solutions aim to implement the Stock Market Development Strategy until 2030, while strengthening the role of securities as a crucial medium and long-term capital mobilization channel for the economy.

Phuong Dung