On the morning of February 21, 2025 in Quang Nam, the State Securities Commission held a conference on the topic and orientation of stock market development in the integration trend.
The conference was held during a series of events under the Asia-Pacific Regional Subcommittee Meeting (APRC) of the International Organization of Securities Commissions (IOSCO) in 2025 in Quang Nam, Vietnam, hosted by the State Securities Commission (SSC) (from February 19 to 21, 2025).
The conference was held with the aim of assessing the situation of Vietnam's stock market and proposing strategic directions and key market development focuses in 2025. At the same time, it created a space to share experiences and lessons in managing and operating the stock market and discuss current global topics, such as challenges in digital asset management and sustainable finance and ESG practices.
Opening the Conference, Minister of Finance Nguyen Van Thang said that despite being affected by the general global situation, the Vietnamese stock market last year remained stable, safe, smooth, with good liquidity and enhanced transparency and sustainability.
Along with that, under the leadership of the Party and the strong direction of the Government, the State management of the stock market has received special attention from the Ministry of Finance and the State Securities Commission. Not only has the management, operation and supervision been well done, but the legal system has also continued to be improved over the past year, with the promulgation of the amended Securities Law as a typical example. The guiding documents are currently being accelerated to continue to "create the greatest convenience for people and businesses" and the regulations are approaching international practices.
In addition, state management agencies have been very proactive and made efforts to resolve market bottlenecks to help improve the ability to mobilize capital for businesses, while removing obstacles to create conditions for market access for investors, especially foreign investors. The highest effort is to complete the criteria so that the Vietnamese stock market can soon be upgraded from a frontier market to an emerging market.
Minister Nguyen Van Thang also said that 2025 is the final year of implementing Vietnam's 5-year socio-economic development plan 2021 - 2025, a year of acceleration, breakthrough, and completion, creating the premise for the development plan for the next 5 years of the 10-year socio-economic development strategy (2021 - 2030), marking the time when the country enters a new era of strong and prosperous development of the nation. Therefore, the Vietnamese Government has set a target of GDP growth in 2025 of at least 8% or more, creating a foundation for double-digit growth in the period 2026 - 2030.
To achieve the common goals of the economy, the tasks of the Securities Industry, the State Securities Commission and the Vietnamese Stock Market are very important. The Vietnamese Government has set a very important goal of developing a stable, safe, healthy, efficient, sustainable and integrated stock market; enhancing risk tolerance, having a reasonable structure between market components, becoming an important medium and long-term capital mobilization channel, mainly for the economy; maintaining growth in scale, focusing on improving quality; developing green financial instruments, sustainable finance; promoting digital transformation in the securities sector; building a market management and supervision system associated with the application of modern information technology; strengthening international linkages and integration, gradually narrowing the development gap between the Vietnamese stock market and the stock markets of developed countries.
“In the coming time, in addition to the solutions proposed by the State Securities Commission, today’s Conference will be attended by all partner management agencies who are members of the IOSCO Asia-Pacific Regional Subcommittee, international organizations, associations, and members of the Vietnam Stock Exchange. This is a very favorable opportunity for us to share experiences and valuable lessons in the management and operation of the securities sector and the stock market,” Minister Nguyen Van Thang emphasized.
Speaking at the Conference, Ms. Julia Leung - President of APRC, CEO of SFC said that the Asia-Pacific economy is expected to grow by about 4% by 2025, becoming the fastest growing region in the world.
“Vietnam is a significant contributor to this growth, with its economy forecast to grow by 8% or more this year, among the fastest growing economies in Asia. Vietnam is increasingly asserting its position in global financial markets through increased connectivity with international capital flows thanks to economic integration and global supply chains,” Ms. Julia emphasized.
According to Ms. Julia, the regional capital market is facing many complex challenges of the global economic and political situation with high interest rates lasting after a decade of near-zero interest rates in the US and Europe, trade conflicts, tariffs and geopolitical tensions that are temporarily disrupting supply chains, and the impact of technology.
Therefore, Ms. Julia believes that Asian markets must cooperate more closely and meaningfully to address the region's common challenges. In Asia-Pacific, APRC is an effective platform for securities regulators to cooperate and exchange views on common issues. In particular, this Multilateral Memorandum of Understanding on Supervisory Cooperation (SMMoU) marks the world's first multilateral supervisory cooperation between capital market regulators in enhancing regional cooperation in the context of increasingly interconnected capital markets. The State Securities Commission of Vietnam has become the latest signatory of the SMMoU.
| Also at the Conference, witnessed by Minister of Finance Nguyen Van Thang; Mr. Tran Nam Hung - Vice Chairman of Quang Nam Provincial People's Committee; Mr. Rodrigo Buenaventura - Secretary General of IOSCO, Ms. Julia Leung - Chairman of APRC, Chief Executive Officer of the Securities and Futures Commission of Hong Kong (SFC), representing the SSC, Chairwoman Vu Thi Chan Phuong performed the signing ceremony of the APRC - IOSCO Multilateral Monitoring Memorandum of Understanding (S-MMOU). Becoming a member to sign the Multilateral Memorandum of Understanding on supervision has raised the image of Vietnam's stock market to be on par with other countries in the region. This is an important step, further tightening the cooperation in market supervision between the State Securities Commission of Vietnam and securities market management agencies among APRC member countries in particular and IOSCO in general. At the same time, it demonstrates Vietnam's initiative as well as the trust and support from IOSCO members for the State Securities Commission of Vietnam. |
Source: https://baotainguyenmoitruong.vn/dinh-huong-phat-trien-thi-truong-chung-khoan-viet-nam-trong-xu-huong-hoi-nhap-386896.html
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