Minister of Finance: Confident that Vietnam's stock market will soon be upgraded, continue to develop sustainably and integrate

With the achievements of the past 25 years and especially the determination, consensus, creativity and innovation of the Securities industry, the Vietnamese stock market will soon be upgraded to an emerging market, continuing to develop strongly, sustainably and integrate.

At the ceremony to celebrate the 25th anniversary of the Vietnam Stock Market and launch the new information technology system this morning in Ho Chi Minh City, Minister of Finance Nguyen Van Thang affirmed that this is an important milestone in the development of the Vietnam Stock Market and a new step forward in information technology infrastructure for the next stage of development of the market.

Launching ceremony of the new KRX information technology system. Photo: Le Toan.

Exactly a quarter of a century ago, on July 20, 2000, the Ho Chi Minh City Stock Exchange (HOSE) officially came into operation and then, on July 28, the Vietnamese stock market officially traded its first session.

The Minister of Finance said that the birth of the Vietnamese stock market is one of the concrete and vivid results of the process of innovation in thinking and perfecting the socialist-oriented market economic institution under the wise leadership of the Party and State.

After 25 years of formation and development, overcoming many difficult, volatile, and ups and downs - especially during economic crises, the Covid-19 pandemic, or global geopolitical fluctuations - the Vietnamese stock market has grown significantly in terms of legal framework, market structure, scale, liquidity, quality, transparency, efficiency, and international integration.

If in the early days of its establishment, the market had only 2 enterprises, with a capitalization scale of only about 0.2% of GDP, then up to now, there have been over 1,600 enterprises participating in the market, with the capitalization scale of the stock and bond market reaching nearly 100% of GDP, becoming an important medium and long-term capital mobilization channel for the economy and economic organizations.

The stock market is increasingly improving in terms of legal framework, market structure, technology infrastructure, products, and intermediary organizations.   space… and especially an attractive investment channel with more than 10 million domestic and foreign investor accounts.

The Minister of Finance believes that Vietnam's stock market will soon be upgraded to an emerging market, continuing to develop strongly, sustainably and integrate. Photo: Le Toan.

According to   Minister Nguyen Van Thang, the stock market has contributed to mobilizing millions of billions of VND for development investment, affirming its role as the "bloodline" of the modern economy and being one of the important pillars of the national financial system, alongside the banking and insurance systems.

A quarter of a century, although not too long, is a journey of building and developing the Vietnamese stock market with courage and perseverance, from the beginning to the standard of a high-end market of the country's economy. The Vietnamese stock market has shown its role and effective contribution in each stage of the country's economic development; thereby affirming itself as an important medium- and long-term capital channel for the economy and enterprises.

These achievements are clear evidence of the correct policies and guidelines of the Party and State, the close attention and direction of the Government, the effective coordination of ministries, departments, branches and localities, domestic and international organizations, etc., and the tireless efforts of generations of leaders, cadres, workers in the Securities sector and members of the market.

On behalf of the leaders of the Ministry of Finance, Minister Nguyen Van Thang highly appreciated and commended the contributions of the State Securities Commission - the agency directly managing the market, which has always closely followed reality, proactively advised, perfected the legal framework, strengthened inspection, supervision, and handled violations; and the efforts of the Stock Exchanges and the Vietnam Securities Depository and Clearing Corporation.

At the same time, the Minister commended the community of securities companies, fund management companies, listed enterprises and investors for joining hands to create a healthy and sustainable market development.

“ Vietnam is entering a new era, an era of striving for national development and prosperity. To achieve the great and comprehensive goals set by the Party and the Government, the responsibilities and tasks of the Finance sector in general and the Securities sector in particular in the coming time are also very heavy, but we are determined to turn challenges into motivation, contributing to the country's socio-economic development”, said the Minister of Finance.

In recent times, the Finance sector has been making every effort and placing the highest determination to successfully carry out financial and budgetary tasks in the context of many world challenges to overcome.

In the first 6 months of 2025, state budget revenue reached 67.7% of the estimate, exceeding the planned estimate, ensuring resources for national defense, social security, and development investment. The budget expenditure structure continues to be restructured towards increasing investment expenditure, reducing regular expenditure , and ensuring financial discipline.

“These are the most positive results in the same period in recent years, reflecting the strong recovery of the domestic economy, the effectiveness of flexible fiscal policies and the prominent role of the production and business sector in the budget revenue structure,” said the Minister.

Along with that, the state budget balance continues to be maintained, public debt is controlled within safe limits, and the national credit rating is improved. This is a solid foundation to continue expanding fiscal space, supporting economic recovery and sustainable growth in the coming time.

The Ministry of Finance will continue to closely coordinate with ministries, branches, localities, domestic and foreign organizations... to continue to effectively, proactively, creatively implement and complete financial and budgetary tasks, making fiscal policy the driving force for the real development of the economy; at the same time, strengthen solutions and policies to develop the financial market, capital market, and stock market more strongly and sustainably.

Promoting the achieved results, with the highest determination to complete the goals and tasks assigned by the Government, in the coming time, the Minister proposed to thoroughly grasp the spirit and resolutely implement the following key tasks:

Firstly, continue to build and perfect a synchronous legal framework in line with international practices, ensuring market stability, transparency and efficiency.

Second, organize the market to operate safely, stably and effectively; reform administrative procedures, create favorable conditions for organizations and individuals to participate in the market; improve management capacity, quality of supervision, inspection, examination, and strictly handle violations, in order to enhance transparency and market discipline.

Third, continue to effectively restructure the pillars of the market, increase institutional investors, improve the quality of goods, diversify products and services on the stock market , and meet the diverse needs of the market and investors.

Fourth, promote digital transformation and modernize information technology infrastructure, both effectively serving state management and meeting market development requirements in the new period.

Fifth, strengthen information and propaganda work and provide knowledge training for investors; promote comprehensive and in-depth international cooperation, enhance the position of Vietnam's stock market, especially drastically and synchronously deploy solutions to soon upgrade Vietnam's stock market from a frontier market to an emerging market, thereby strongly attracting domestic and foreign investment capital flows.

In the coming time, the role of the stock market will need to be strongly promoted and more clearly affirmed in mobilizing key medium- and long-term capital resources for the economy in the context of the country entering a new development stage.

Minister Nguyen Van Thang believes that with the attention and close direction of the Party and Government leaders; the effective coordination of many ministries, departments, and branches..., with the foundation of achievements over the past 25 years and especially the determination, consensus, creativity, and innovation of the Securities industry, the Vietnamese stock market will soon be upgraded to an emerging market, continuing to develop strongly, sustainably, and integrate.

Source: https://baodautu.vn/minister-of-finance-trusted-thi-truong-chung-khoan-viet-nam-som-nang-hang-tiep-tuc-phat-trien-ben-vung-va-hoi-nhap-d342621.html