The first trading session of Vietnam’s stock market in 2021 opens on January 4 with a gong-beating ceremony. (Photo: VNA)Hanoi (VNA) – The first trading sessionof Vietnam’s stock market in 2021 opened on January 4, with a gong-beating ceremonyheld by the State Securities Commission and the Hanoi Stock Exchange (HNX).
Addressing the ceremony, Minister of Finance DinhTien Dung said macro-economic stability along with the Securities Law andpragmatic measures undertaken by the Government will facilitate the developmentof the domestic stock exchange in 2021 in terms of both scale and quality, andaffirm its role as an effective capital mobilisation channel for the nationaleconomy in the year.
The 13th National Party Congress, to takeplace from January 25 to February 2, will create a firm foundation for thenational economy, he said, adding that major economic decisions and policies ofthe Party and the State will create impacts on the economy in general and thestock market in particular.
In addition, the enforcement of the revised Law onInvestment, the Law on Enterprises and the Securities Law will lay the newlegal foundation for the market, and promoted transparency and sustainabledevelopment of market players, Dung said.
The minister urged the State Securities Commissionand relevant agencies to focus their effort on implementing major targets andtasks set for 2021, first of all completing institutions and mechanismsexclusively for the market by drafting documents guiding the implementation ofthe revised Securities Law and submitting them to the Government forpromulgation.
He ordered speeding up the restructuring of thestock and insurance markets, covering the apparatus rearrangement of the HNXand the HCM Stock Exchange (HSX).
The sector must ensure safe and stable transactions,the minister requested, stressing information-technology applications in thetwo major stock exchanges, and the Vietnam Securities Depository.
The State Securities Commission and relevant unitsshould take solutions to push ahead with equitisation of State-ownedenterprises and State capital divestment, increase the market scale andliquidity, and introduce new products in the year.
The minister said it is necessary to improve theefficiency of market management and supervision, saying any violations must bestrictly handled to protect rights and interests of investors.
In the face of COVID-19, the finance ministry hasadopted an array of solutions to stablise and develop the domestic market suchas cutting fees for investors and promoting market attractiveness, thus helpingto maintain the development and scale of the market./.
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