The government intervened very quickly but investors overreacted in the stock market.

Mr. Do Thanh Trung - Deputy Minister of Finance - Photo: DANH KHANG

At the regular Government press conference on the afternoon of April 6, Mr. Do Thanh Trung - Deputy Minister of Finance - said that the recent US reciprocal tax imposition does not only apply to Vietnam, but also to countries around the world .

Mr. Trung admitted that this has a great impact on psychology, the business investment environment as well as business investment prospects.

However, in that context, the Government intervened very quickly. However, according to Mr. Trung, the reaction of investors was "excessive", especially in the stock market in the past few days. In just two days, the HoSE floor lost more than 100 points.

"With the Government's efforts, we will certainly regain the trust of investors and businesses," Mr. Trung emphasized.

In addition, the Ministry of Finance leader informed that he is working with major investors on foreign investment. The FDI target for 2025 is still to attract 40 billion USD in registered capital and 28-29 billion USD in disbursed capital. This target is difficult, but according to the Ministry of Finance leader, he will continue to strive.

Digital currency pilot roadmap

In addition, at the press conference, reporters asked about the progress of the digital currency pilot implementation, after the Ministry of Finance submitted this project in March.

In response, the deputy minister said the ministry has proposed that the Government acknowledge the existence and potential of digital assets.

The Government directed the Ministry of Finance to develop a legal framework last March. The Ministry of Finance has coordinated with ministries and branches to implement it.

The Deputy Minister emphasized that the implementation of this issue must be cautious, have a roadmap, be suitable for practice, ensure safety, transparency and efficiency. Therefore, a pilot implementation will be carried out in the crypto-asset trading and issuance market.

The Ministry of Finance has drafted a document to solicit opinions from ministries and branches, then finalized it and consulted with the Ministry of Justice. The ministry's leaders hope to soon have specific information for implementation.

This implementation will be piloted right in the trading market.

"We have to clarify that this is not a stock. But it still opens up a new channel of capital mobilization for businesses," said Mr. Trung.

According to Mr. Trung, the pilot implementation in the market also needs to comply with the laws of Vietnam and other countries where investors participate in the cryptocurrency market.

Based on the Government's conclusion and the direction of Deputy Prime Minister Ho Duc Phoc, the Ministry of Finance has issued a document, sent it to ministries and branches for comments and will complete it and seek comments from the Ministry of Justice.

"We are currently synthesizing, absorbing, and finalizing the draft resolution before submitting it to the Government," Mr. Trung added. Regarding the time and implementation roadmap, the Deputy Minister of Finance did not mention it in today's press conference.

Previously, in March this year, the Ministry of Finance submitted to the Government a draft resolution on piloting the issuance and trading of crypto assets following the Prime Minister's direction.

It proposes a coordination mechanism between management agencies such as the Ministry of Finance, the Ministry of Public Security, and the State Bank to promote market activities, minimize financial security risks, and ensure stability for the financial and monetary markets.

The pilot implementation, according to the Ministry of Finance, will allow management agencies to thoroughly research and evaluate the feasibility and conditions for practical implementation, minimize illegal acts such as money laundering and terrorist financing, protect investors, and create the premise for developing a transparent, safe, and sustainable financial market.

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Source: https://tuoitre.vn/chinh-phu-vao-cuoc-rat-nhanh-nhung-nha-dau-tu-phan-ung-thai-qua-tren-thi-truong-chung-khoan-20250406143608734.htm