(Chinhphu.vn) - The Ministry of Finance presides and coordinates with relevant agencies to urgently deploy necessary measures to upgrade the stock market, especially focusing on resolving difficulties and problems. to meet upgrade criteria.
Prime Minister Pham Minh Chinh: Promote upgrading and building infrastructure systems to serve stock market operations in a modern direction, strongly applying information technology, digital transformation, and improving quality of stock market management and supervision activities - Photo: VGP
The Government Office issued Notice 122/TB-VPCP concluding the Prime Minister's conclusion at the Conference to deploy the task of developing the stock market in 2024.
In particular, the Prime Minister requested the Ministry of Finance to preside and coordinate with relevant agencies to urgently issue specific plans and action programs to implement Decision No. 1726/QD-TTg dated December 29. /December 12 of the Prime Minister on approving the Securities Market Development Strategy until 2023 for timely and effective implementation, completed in March 2030.
Urgently comprehensively review and propose amendments and supplements to legal documents and regulations related to corporate information disclosure, rights and responsibilities of management entities and market participants. market to handle remaining problems, improve transparency in the stock market, and create favorable conditions for foreign investors to access the Vietnamese stock market.
Promote upgrading and building infrastructure systems to serve the operations of the stock market in a modern way, strongly applying information technology, digital transformation, improving the quality of management and supervision activities. close to the stock market; create favorable conditions for businesses, market institutions, and investors to participate in the Vietnamese stock market in the direction of harmonizing the interests of the State - businesses - investors.
Continue to promote and strengthen supervision, inspection, examination, promptly prevent and combat violations in the stock market, and strictly handle violations in accordance with the law , ensuring the stock market develops sustainably, operates safely, fairly, openly and healthily.
Expand international cooperation, promote promotion activities, promote the image of the Vietnamese stock market in particular, and the Vietnamese economy in general to attract indirect capital flows to invest in the Vietnamese stock market Male.
Strengthen information and communication work, propagate policies of state management agencies, proactively provide timely and complete official information to create consensus in society, and stabilize market psychology. schools and investors; Strengthen propaganda and training to improve financial knowledge, analysis and evaluation capacity for investors in the stock market.
Promote reform of administrative procedures, reduce compliance costs for people and businesses. Research and use appropriate tax management tools, publicly and transparently in accordance with regulations, combined with enhancing digital transformation to prevent tax loss.
Encourage all types of businesses to conduct initial public offerings (IPO) associated with listing and registering for trading on the stock market; continue to develop derivative securities products and new products; Improve the quality of current indexes, amend the Index Rules in accordance with international practices, and develop additional base indices to serve as base assets for the derivatives market.
Direct the State Securities Commission to continue to strengthen management and supervision of securities practitioners; coordinate with professional associations to apply principles and standards of professional ethics to managers of securities companies, fund management companies and practitioners; Gradually research and transfer the activities of organizing exams and granting practice certificates to professional associations.
Urgently review and fully announce the maximum foreign ownership ratio of conditional business sectors
Regarding the upgrade of the stock market from frontier market to emerging market, the Ministry of Finance presides and coordinates with relevant agencies:
Urgently deploy necessary measures to upgrade the stock market, especially focusing on resolving difficulties and obstacles to meet the upgrade criteria; Closely coordinate with the State Bank of Vietnam, the Ministry of Planning and Investment and relevant agencies to quickly, promptly and effectively handle problems within the functions and tasks of agencies to meet Meet the criteria for upgrading Vietnam's stock market from frontier to emerging market, reporting implementation results in June 6.
Urgently review, amend and supplement Decree No. 155/2020/ND-CP dated December 31, 12 of the Government, ensuring strictness, transparency, synchronization, consistency, and compliance with legal regulations. international law and practice, report to the Government before June 2020, 30.
The Ministry of Planning and Investment presides and coordinates with the Ministry of Finance, the State Securities Commission and relevant agencies to urgently review and fully announce the maximum foreign ownership ratio of business sectors. conditional business or limited access for foreign investors; Regularly updated on the Ministry's website in bilingual Vietnamese and English, completed in May 5.
The State Bank of Vietnam presides and coordinates with the Ministry of Finance, the State Securities Commission and relevant agencies to urgently review and propose amendments and supplements to legal regulations to simplify procedures. documents, shortening the process of opening indirect investment capital accounts for foreign investors, creating favorable conditions for foreign investors when participating in the stock market. Research and implement payment and clearing safely, effectively, in accordance with the law and in accordance with market rules, completed in May 5.
The Ministry of Planning and Investment and the State Bank of Vietnam proactively implement the above tasks and report implementation results to the Ministry of Finance before May 31, 5 for synthesis and reporting. Prime Minister in June 2024.
Direct the State Securities Commission to preside over and coordinate with relevant agencies to urgently comprehensively review and thoroughly examine the securities trading system, information technology system, and proactively build processes Control risks, handle measures, respond to urgent situations, prevent technical incidents from occurring, ensure security and safety of the financial system, and interests of investors.
The State Bank of Vietnam continues to direct credit institutions to reduce costs, simplify administrative procedures, increase the application of information technology and digital transformation to continue reducing interest rates. lending, ensuring safety, synchronization, and smoothness between the monetary market, the capital market, and the stock market.
Improve the quality of operations of securities companies
The State Securities Commission requires securities companies, fund management companies and related units to promote restructuring of securities companies and fund management companies according to the Project "Restructuring the stock market". Securities and insurance market to 2020 and orientation to 2025" ensuring financial safety, improving risk management and corporate governance capacity, increasing competitiveness, and professionally developing services according to international standards.
Continue to develop and improve the quality of securities companies' operations; improve financial potential, human resource quality and develop in-depth technology systems; Strengthen the role of market creation according to legal regulations.
Continue to research, develop and promulgate mechanisms to guide, manage and monitor the application of financial technology in securities transactions and services.
Encourage businesses to conduct initial public offerings of shares associated with listing and registering for trading on the stock market
For issuing organizations, encourage businesses to conduct initial public offerings of shares associated with listing and registering for trading on the stock market, attracting large-scale businesses, the situation good finance and corporate governance, listing on the stock market, and actively supporting the completion of equitization plans and divestment of state capital in accordance with the law on equitization.
Promote the diversification of the commodity base in the market, issue a variety of maturities of Government bonds, Government-guaranteed bonds and local government bonds to meet the issuance goals of the issuing agency , suitable for investors' needs.
Diversify bond types to suit capital mobilization needs; Developing corporate bond products for the purpose of implementing projects and investment projects in the form of public-private partnerships (PPP).
Encourage the issuance of green government bonds, green local government bonds and green corporate bonds with the goal of creating a sustainable and healthy capital mobilization channel.
For investors, proactively update and improve understanding and knowledge of the stock market, financial analysis capacity, risk assessment, and enhance investor responsibility for their activities. investment in the stock market.
The Prime Minister assigned Deputy Prime Minister Le Minh Khai to monitor and direct the Ministry of Finance, the State Securities Commission and relevant agencies to urgently carry out assigned tasks to quickly upgrade the stock market. securities from frontier markets to emerging markets.
Government e-information portal
