World Bank highly appreciates solutions to upgrade Vietnam's stock market

At the meeting, Chairwoman of the State Securities Commission Vu Thi Chan Phuong (SSC) shared that in recent years, the SSC has received support from the World Bank in policy advice, sharing international experiences as well as in developing thematic assessment reports.

In particular, the World Bank has supported advisory reports on technical assistance for the development of the Securities Law, as well as regulations, training programs to improve the capacity of officials working in securities market management and supervision in the joint capital market development program (J-cap) that has been implemented since 2018.

The World Bank highly appreciates solutions to upgrade Vietnam's stock market. (Photo: SSC)

Currently, the Ministry of Finance and the State Securities Commission are making efforts to implement solutions to meet the criteria of international credit rating organizations to upgrade the Vietnamese stock market from a frontier market to an emerging market.

With the support of the World Bank, the SSC has organized many conferences, scientific seminars, met with international credit rating organizations, the Asian Financial Market Association (ASIFMA), and foreign investors to exchange and listen to comments to improve documents, mechanisms, and policies to help the Vietnamese stock market upgrade in the coming time.

The solutions proposed by the State Securities Commission have also received consensus from international organizations, market members, and scientists, and are considered highly feasible and practical.

Sharing at the meeting, Ms. Mariam Sherman, the new Country Director of the World Bank, thanked the information that the Chairman of the State Securities Commission shared about the cooperation process between the World Bank and the Ministry of Finance, the State Securities Commission and the programs and projects that the World Bank has implemented in the securities sector in Vietnam.

She said the World Bank will consider continuing to implement the J-Cap program for the Vietnamese stock market because of the role and effectiveness that the program has brought in the past. She highly appreciated the solutions that the Ministry of Finance and the State Securities Commission are implementing to achieve the goal of upgrading the Vietnamese stock market.

In the coming time, the World Bank will continue to accompany the Ministry of Finance and the State Securities Commission in implementing programs and projects to enhance market management and supervision capacity; deploy solutions to achieve the goal of upgrading the stock market.

Source: https://www.congluan.vn/ngan-hang-the-gioi-danh-gia-cao-cac-giai-phap-nang-hang-thi-truong-chung-khoan-viet-nam-post303028.html