The project was issued to implement the resolutions of the Party and the National Assembly on stock market development and the Stock Market Development Strategy to 2030 approved by the Prime Minister in Decision No. 1726/QD-TTg dated December 29, 2023.

Target 200,000 foreign accounts by 2030

The project's general objective is to ensure a reasonable structure between individual investors, institutional investors and foreign investors; improve the quality of individual investors, encourage individual investors to participate in investment through securities investment funds; increase the participation rate of domestic institutional investors and foreign investors in the securities market to improve investment efficiency, stabilize the market and increase market depth.

At the same time, the project also aims to diversify the domestic investor base, focusing on developing types of securities investment funds; encouraging pension funds and insurance companies to participate in the securities market through investing in government bonds, corporate bonds, stocks, fund certificates, etc. to improve the quality of investment demand, towards sustainable investment demand.

According to the project, by 2030, individual investors are expected to account for about 70% of transaction volume, institutional investors and foreign investors for about 30%; and increase in the following years to reach 60% and 40% respectively.

The project also aims to have the number of foreign investors' securities trading accounts reach 200,000 by 2030 and increase by 15% in the following years.

In addition, regarding the number of securities investment funds, strive to reach 500 funds by 2030 and increase in the following years at a growth rate of 25%/year.

The total net asset value (NAV) of equity investment funds will reach 5% of GDP by 2030 and increase in the following years to reach a double-digit growth by 2035.

The number of investors holding fund certificates will reach 2.5 million investors by 2030; and increase in the following years to reach 5 million investors by 2035.

Many solutions to realize the vision

In addition to general solutions on perfecting policies and legal documents; developing diverse types of securities investment funds; strengthening management and supervision; promoting the development of infrastructure and information technology; the project also offers specific solutions for individual investors, institutional investors, and foreign investors.

For individual investors , it is necessary to strengthen training, popularize knowledge and disseminate information about securities and the securities market; improve the quality of consulting services provided by investment consulting service providers and securities practitioners; and provide new types of consulting services for investors.

For institutional investors , develop and diversify types of securities investment funds with the solution of issuing regulations on Index Funds, Money Market Instrument Investment Funds, Infrastructure Bond Investment Funds, types of exchange-traded funds (ETFs)... according to international practices, meeting market needs.

Expand the investment limits of open-end funds in privately issued securities of listed companies; the investment limits in publicly offered securities associated with listing; research and add new profitable investment products to the investment portfolio of open-end funds according to international practices.

Complete the regulations on building, managing, operating and exploiting stock indices of the Vietnam Stock Exchange and its subsidiaries in the direction of diversifying stock indices and promoting the development of ETF products.

Regarding the group of solutions for foreign investors , continue to improve the legal framework on foreign investors' activities; promote the implementation of solutions to upgrade the market from a frontier market to an emerging market; diversify the supply of goods.

Need to continue efforts

To achieve the above objectives, the State Securities Commission is responsible for proposing to the Ministry of Finance to issue mechanisms and policies to encourage individual investors to participate in investment through securities investment funds; increase the participation rate of domestic institutional investors and foreign investors in the securities market; issue policies to develop the fund management industry; encourage pension funds and insurance companies to participate in the securities market; direct the Stock Exchanges to study the diversification of securities index sets; coordinate with relevant professional associations and securities business organizations to implement training, propaganda and knowledge dissemination plans for investors participating in the securities market.

Units under the Ministry (State Securities Commission; Department of Financial Institutions; Department of Insurance Management and Supervision; Department of Tax, Fee and Charge Policy Management and Supervision; Department of Foreign Investment) shall, based on their assigned functions and tasks, proactively implement solutions to restructure investors and develop the securities investment fund industry in Section II, Article 1 of this Decision.

Market members (fund management companies, securities companies, custodian banks, supervisory banks and organizations providing services to securities investment funds), and relevant professional associations implement specific solutions stated in the project.

BAO MINH

Source: https://nhandan.vn/phe-duyet-de-an-tai-cau-truc-nha-dau-tu-va-phat-trien-nganh-quy-dau-tu-chung-khoan-post907895.html