Need to encourage and support the development of new financial products

According to Mr. Nguyen Manh Khoi - Head of Capital Business Department, Capital Business and Market Division of VietinBank, in order to promote the Vietnamese financial center to quickly integrate and become a dynamic part of the global economy, many synchronous solutions are needed.

To promote the financial center, according to Mr. Nguyen Manh Khoi, it is necessary to diversify financial products and gradually approach major financial centers in the region and the world . In addition, it is necessary to encourage and support the development of new financial products, derivatives and innovative investment products, helping to increase flexibility and depth for the market.

Promote conditions to upgrade the stock market, while researching, testing and gradually putting into operation new markets such as commodities, foreign currencies, digital assets, etc., approaching the model of international financial centers.

In addition, it is necessary to focus on developing the commodity market based on national advantages, focusing on commodity derivative products for key products in which Vietnam has a competitive advantage such as rice - a product that has not yet been deployed in many other commodity markets. At the same time, it is necessary to build a clear and transparent legal corridor to support businesses, farmers and investors to participate effectively in this market. This not only contributes to minimizing price risks and increasing the value of the agricultural sector, but also serves as a basis for gradually expanding connectivity with markets in the region and around the world.

Source: https://thoibaonganhang.vn/can-khuyen-khich-va-ho-tro-phat-trien-cac-san-pham-tai-chinh-moi-162884.html