On July 23, in Hanoi , Finance-Investment Newspaper organized the Seminar "New Capital Flow Driving Force": Decoding the development motivation of Vietnam's capital market.
The journey to becoming an important medium and long-term capital mobilization channel
Speaking at the opening of the seminar, Mr. Pham Van Hoanh - Editor-in-Chief of Finance-Investment Newspaper said that after 25 years of formation and development, the Vietnamese stock market has gradually become one of the most important medium and long-term capital mobilization channels of the economy , attracting the attention and investment of a large part of society.
Since its inception in 2000, the Vietnamese stock market has grown step by step, from a few hundred at first to nearly 10 million domestic and foreign investor accounts today. From mobilizing joint stock companies to list on the market, it now has a capitalization scale of more than 60%, at times nearly 75% of GDP.
In ASEAN, Vietnam's stock market is the youngest, the Philippines is 100 years old, Malaysia is 65 years old, Thailand is about 50 years old... However, in terms of capitalization, Vietnam's stock market is equivalent to Malaysia, slightly less than Thailand and surpasses the Philippines. Last week, the liquidity of Vietnam's stock market was the top in Southeast Asia, even surpassing Thailand.
In his speech, Deputy Minister of Finance Nguyen Duc Chi said that the seminar "New Capital Flow Driving Force" took place at the right time, meeting the requirements of many investors, market organizations, and management agencies of the country.
With the country's important goals at the milestones of 2030 and 2045, the stock market needs to determine a plan for outstanding development, attracting medium and long-term investment capital to meet the needs of investment, infrastructure construction, national development, and business development of enterprises, the Deputy Minister directed.
Unleashing new capital flows from the stock market
At the seminar "New capital flow driving force", guests focused on solving existing problems in the stock market, clearing up obstacles and creating real capital flow driving force in the new period.
Mr. Bui Hoang Hai, Vice Chairman of the State Securities Commission, said that in recent times, the Government has implemented many strong reforms for the stock market. Up to now, the hard criteria for upgrading the stock market to an emerging market have been met, while the soft criteria still depend on the experience of foreign investors.
The State Securities Commission has maintained exchanges with foreign investors, investment funds, etc. and highly appreciated the legal framework and development level of the Vietnamese stock market.
Discussing the solutions that the Ho Chi Minh City Stock Exchange (HOSE) will implement in the coming time, Ms. Tran Anh Dao, Deputy General Director in charge of the Executive Board of the Ho Chi Minh City Stock Exchange, said that for new goods, the State Securities Commission is taking the initiative to create better sources of goods, support businesses to list on the stock exchange with a new process, with the new Decree 155, the process of linking IPO with listing will be implemented; will focus on helping businesses improve quality, operating standards, and have a comparable level with markets in the region, thereby attracting foreign capital flows.
In the fund management company service segment, we coordinate with fund management companies to build investment indexes, with indexes serving the specific needs of each investor group. In the near future, HOSE will have more indexes on the market, helping funds have a basis to deploy products, trying to have the best roadmap to exploit the products on the system to serve more market needs. The goal is to develop the market stably and sustainably.
The solutions presented at the seminar are very practical to upgrade the market and open up new capital flows. However, Mr. Hai emphasized that upgrading the stock market is not the destination. The goal of the Government and the Ministry of Finance is to reform the market so that the stock market becomes increasingly transparent and developed, helping investors mobilize capital easily.
Source: https://nhandan.vn/giai-ma-dong-luc-phat-trien-thi-truong-chung-khoan-viet-nam-post895750.html
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