At the conference to review the direction and operation in 2024 and deploy tasks in 2025 of the State Securities Commission (SSC), Minister of Finance Nguyen Van Thang expressed his expectation that the Vietnamese stock market will continue to develop strongly and sustainably, affirming itself as an effective medium- and long-term capital mobilization channel, mainly for the economy.
According to the report at the Conference, as of December 12, 2024, VN-Index reached 1,267 points, up 12.2% compared to the end of the previous year, the market capitalization of the three stock exchanges HOSE, HNX and UPCoM increased by 19.6% compared to the end of the previous year; equivalent to 69.4% of estimated GDP in 2023. The number of accounts has reached more than 9.1 million accounts, equivalent to 9% of the population, exceeding the target set by the stock market development strategy to 2030.
To continue developing a modern, transparent, efficient, and sustainable stock market, becoming an important and main capital mobilization channel in the national financial system and contributing to improving the competitiveness of the Vietnamese economy in the context of increasingly deep international integration, Minister Nguyen Van Thang requested the State Securities Commission to focus and continue its efforts on eight key tasks in 2025.
Firstly, focus on completing the Decrees and documents guiding the implementation of amendments and supplements to the Securities Law in Law No. 56/2024/QH15; synchronously deploy solutions proposed in the Stock Market Development Strategy to 2030 approved by the Prime Minister.
Second, resolutely and urgently implement organizational arrangement and streamlining of the apparatus in accordance with the policies of the Party, Government, and Ministry of Finance, ensuring a streamlined apparatus that operates effectively and efficiently, with full functions and tasks according to international practices and meets the requirements for managing and developing a stable, safe, high-quality, and sustainable stock market.
Third, continue to organize the market to operate stably and smoothly, ensuring security and safety; speed up the deployment of a new information technology system for the stock market; promptly deploy other information technology projects to modernize the management and supervision of the stock market.
Fourth, continue to build a stock market that develops in an effective and modern direction, increasingly approaching international standards and practices.
Fifth, reorganize the market, classify listed companies in accordance with market development conditions; research and build a secondary carbon credit trading market, a trading market for innovative startups.
Sixth, focus on implementing the digital transformation plan, effectively carrying out administrative reform, and modernizing operations to continue facilitating businesses and markets to operate effectively.
Seventh, strengthen international cooperation, enhance Vietnam's image and position in the international arena, aiming to upgrade the market in 2025; successfully organize the Asia-Pacific Regional Subcommittee (APRC) - IOSCO Conference; actively participate in international cooperation forums.
Eighth, strengthen supervision, inspection, and strict handling of violations in the stock market to strengthen discipline in the market; at the same time, strengthen propaganda and dissemination of knowledge about securities, the stock market, and prevent risks and fraud in the market, encourage long-term investors, and contribute to stabilizing and developing the market sustainably.
“I believe that, with the solidarity and efforts of all officials and civil servants of the State Securities Commission, the close coordination of ministries, branches and the support of the business community, the Vietnamese stock market will continue to develop strongly and sustainably, affirming itself as an effective medium- and long-term capital mobilization channel for the economy and an important macro-management tool of the Government, making an increasingly important contribution to the cause of national construction and development,” the Minister affirmed.
Speaking to receive the direction of the Minister of Finance, Chairwoman of the State Securities Commission Vu Thi Chan Phuong expressed her wish to continue receiving more attention and closer coordination from relevant units. "The State Securities Commission will focus resources and seriously implement specific tasks assigned by the Minister to the Securities industry" - the Chairwoman of the State Securities Commission affirmed.
