If you want to go long, go far, play big, the stock market must be transparent.

Deputy Minister of Finance Nguyen Duc Chi. Photo: Phan Anh

Speaking at the concluding conference “Creating motivation to upgrade the stock market” organized by Lao Dong Newspaper in collaboration with the Ministry of Finance and the State Securities Commission today (July 2), Deputy Minister of Finance Nguyen Duc Chi emphasized that the conference is of great importance to the Ministry of Finance and the State Securities Commission (SSC). This is an opportunity to raise issues, discuss issues and propose solutions towards the goal of upgrading the Vietnamese stock market.

The Deputy Minister stated: "I appreciate the market participants' awareness of building a transparent and healthy market. I hope this spirit will spread more strongly throughout the market, especially with listed companies.

The Ministry of Finance also highly appreciates the significance of today's Workshop in the goal of upgrading the stock market. To achieve this goal, we are ready to play a pioneering role. State management agencies take the lead but do not go alone. The entire stock market does not go alone but all must go together. The State Securities Commission, listed enterprises and media units... all must go together, aiming to upgrade the stock market in the soonest time".

Overview of the Workshop “Creating motivation to upgrade the stock market”. Photo: Phan Anh

Also at the workshop, Deputy Minister Nguyen Duc Chi stated that in the Vietnamese stock market, the management agency is responsible for developing a roadmap. This roadmap is shown in the Prime Minister's decision approving the orientation for stock market development until 2030.

The Ministry of Finance will continue to do research to develop the market further. There is no need to look far, but to learn from exemplary markets that have developed far such as Korea, Hong Kong (China), Singapore. On that basis, Vietnam must also refine, and cannot apply the model to our stock market.

Mr. Nguyen Duc Chi - Deputy Minister of Finance speaking at the Workshop. Photo: Phan Anh

Regarding information transparency, the Chief Inspector said that this responsibility belongs first and foremost to businesses. They need to be aware that this is not only their obligation but also their right.

"If we want to go far, go far, and play big, we must be transparent. We need to take accuracy for granted, and the awareness of businesses is required except in cases of force majeure. Management agencies have standards and requirements for businesses on information disclosure, so we monitor together. Management agencies, operators, investors, and press agencies work together to detect violations, then handle them strictly, resolutely, and tirelessly because the market never rests.

Some businesses have published information in two languages, but it is not enough. We plan to amend the regulations related to this issue and have a roadmap. The revised Circular is currently soliciting opinions, hoping that businesses and media agencies will provide quality information so that their opinions can be well and promptly participated, helping us achieve the goal of soon upgrading the Vietnamese stock market" - Deputy Minister Nguyen Duc Chi emphasized.

Source: https://laodong.vn/kinh-doanh/muon-di-dai-di-xa-choi-lon-thi-thi-truong-chung-khoan-phai-minh-bach-1360841.ldo