VN-Index surpasses historical peak on 25th anniversary of stock market

On the morning of July 28, the State Securities Commission and the Vietnam Stock Exchange held a ceremony to celebrate the 25th anniversary of the Vietnamese stock market.

Speaking at the ceremony, Minister of Finance Nguyen Van Thang said that exactly a quarter of a century ago, on July 20, 2000, the Ho Chi Minh City Stock Exchange (HOSE) officially came into operation and on July 28, the Vietnamese stock market officially traded its first session. If on the first day of establishment, there were only 2 listed enterprises, market capitalization only reached 0.2% of GDP, now there are over 1,600 enterprises with a market capitalization scale of nearly 100% of GDP, becoming a medium and long-term capital mobilization channel for the economy and economic organizations. The stock market is increasingly perfecting its legal framework, market structure, technology infrastructure, products, intermediary organizations... and especially an attractive investment channel with more than 10 million accounts of domestic and foreign investors.

The stock market has contributed to mobilizing millions of billions of VND for development investment, affirming its role as the "bloodline" of the modern economy and being one of the important pillars of the national financial system, along with the banking and insurance systems. These achievements are clear evidence of the correct policies and guidelines of the Party and State, the close guidance of the Government, the effective coordination of ministries, departments, branches and localities, domestic and international organizations, etc., and the tireless efforts of generations of leaders, cadres, workers in the securities sector and members of the market.

The Minister of Finance emphasized: Promoting the achieved results, with the highest determination to complete the goals and tasks assigned by the Government , in the coming time, the entire securities sector will thoroughly grasp the spirit and resolutely implement a number of key tasks. Firstly, continue to build and perfect a synchronous legal framework, in line with international practices, ensuring the stability, transparency and efficiency of the market. Secondly, organize the market operation in a safe, stable and effective manner; reform administrative procedures, create favorable conditions for organizations and individuals to participate in the market; improve management capacity, quality of supervision, inspection, examination, and strictly handle violations, in order to improve market transparency and discipline.

Third, continue to effectively restructure the pillars of the market, increase institutional investors, improve the quality of goods, diversify products and services in the stock market, and meet the diverse needs of the market and investors. Fourth, promote digital transformation and modernize information technology infrastructure, both effectively serving state management and meeting the development requirements of the market in the new period.

Fifth, strengthen information and propaganda work and provide knowledge training for investors; promote comprehensive and in-depth international cooperation, enhance the position of the Vietnamese stock market, especially drastically and synchronously deploy solutions to soon upgrade the Vietnamese stock market from a frontier market to an emerging market, thereby strongly attracting domestic and foreign investment capital.

Delegates perform the opening ceremony of the new information technology system at the 25th anniversary of the Vietnamese stock market.

PHOTO: MP

As one of the large investment funds that participated very early in the Vietnamese stock market, Mr. Don Lam - General Director and founding shareholder of VinaCapital Group shared that the Vietnamese stock market has developed continuously over the past 25 years and has achieved many important steps forward. Entering a new stage of development, the role of the capital market needs to be affirmed more clearly - not only as a tool to support growth, but also as a pillar in realizing long-term goals, especially promoting the growth of the private economic sector.

Mr. Don Lam proposed the key goals that should be completed in the next 5 years of the stock market. These are upgrading the market, enhancing financial education, encouraging the development of institutional investors, developing new products and modernizing the market infrastructure. After that, the market can move towards longer-term goals, which are deep international integration, building a digital financial ecosystem, connecting the private sector to support national priorities.

On this occasion, the State Securities Commission and the Vietnam Stock Exchange also officially launched the new information technology system of the Vietnamese stock market. Notably, on the morning of the 25th anniversary of the Vietnamese stock market, the VN-Index skyrocketed nearly 20 points, to more than 1,550 points, far exceeding the peak of 1,536 points set in early 2022. Market liquidity increased as cash flow continued to flow strongly into leading stocks in the securities, banking and real estate sectors.

Source: https://thanhnien.vn/vn-index-vuot-dinh-lich-su-trong-ngay-ky-niem-25-nam-thi-truong-chung-khoan-185250728092354447.htm