Addressing a New Year opening ceremony held at the Ho Chi Minh City Stock Exchange (HOSE) on February 5, Chi said the Government is working to surpass the initial economic growth target for this year, setting the stage for a double-digit growth trajectory during the 2026–2030 period.
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The New Year opening ceremony for the stock market held at the Ho Chi Minh City Stock Exchange (HOSE) on February 5 |
For this vision to materialize, the securities industry must rise to the occasion, adapting swiftly to meet the demand, he said.
Outlining a clear roadmap for all involved, from the State Securities Commission (SSC), stock exchanges, to the Vietnam Securities Depository and Clearing Corporation, he said a key priority is to finalize the legal framework and guidelines for enforcing new regulations under the amended Securities Law passed in 2024.
Market regulators were tasked with actively seeking and inviting large, quality enterprises to list on the bourses rather than passively awaiting applications.
Upgrading can no longer be delayed, Chi declared, highlighting the urgency of meeting international standards to elevate Vietnam’s market classification. Doing so will unlock significant benefits for all stakeholders – local and foreign investors alike, while boosting foreign capital inflows into Vietnam’s burgeoning stock market, he said.
In response, SSC Chairwoman Vu Chi Chan Phuong pledged to strengthen coordination among regulators, businesses and investors to foster sustainable growth, reinforcing the market’s role as an effective medium- and long-term capital mobilization channel for the economy.
Meanwhile, HOSE Acting Chairwoman Nguyen Viet Ha announced that a new information technology system has successfully completed testing with all market participants and is now in its final preparation phase for the coming launch, promising an array of new products and services.
The year 2024 ended on a high note for Vietnam's securities market, marked by stability and safety. The VN-Index surged by 12.1% compared to the end of 2023, while market capitalization reached 5.21 quadrillion VND (207 billion USD), reflecting a 14.3% annual increase. Vietnam's stock market liquidity ranked third in Southeast Asia, behind only Thailand and Singapore.
Encouragingly, the corporate bond market also showed signs of recovery, buoyed by growing investor confidence.
Source: VNA