NDO - On the afternoon of November 4, at the headquarters of the State Securities Commission, Chairwoman of the State Securities Commission Vu Thi Chan Phuong chaired a meeting, worked and exchanged information with the working delegation of FTSE Russell and Morgan Stanley on upgrading the Vietnamese stock market.
At the meeting, Chairwoman Vu Thi Chan Phuong updated the new policies that the Vietnamese Government and Ministry of Finance are implementing to create the most favorable conditions for foreign investors to participate in the Vietnamese financial market, as well as meet the criteria for upgrading to an emerging market.
The Chairman of the State Securities Commission said that today is the first day that Circular 68/2024/TT-BTC dated September 18, 2024 of the Ministry of Finance takes effect. This Circular has removed the requirement to have enough money before making securities purchase transactions of international investors, and stipulates many new contents on securities transactions, payment, securities clearing, activities of securities companies and information disclosure. At the same time, the Vietnam Securities Depository and Clearing Corporation (VSDC) has also issued new regulations related to depository members at VSDC, securities transaction clearing and settlement activities at VSDC, and securities registration and transfer of ownership at VSDC.
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Ms. Wanming Du - Head of Index Policy, FTSE Russell discussed at the working session |
At the meeting, Ms. Wanming Du - Head of Index Policy at FTSE Russell - shared her joy at witnessing new developments of the management agency as well as the Vietnamese stock market after 6 months of returning to work in Vietnam.
Ms. Wanming Du affirmed that FTSE Russel will increase exchanges and work with relevant parties in Vietnam to support foreign investors' trading activities in Vietnam, as well as share information and trading methods of FTSE customers in emerging markets.
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Mr. Young Lee, Managing Director of Asia Equity Business, Morgan Stanley, discussed at the meeting. |
Sharing at the meeting, Mr. Young Lee, Managing Director of Morgan Stanley's Asian equity business, said that the new regulations in Circular No. 68/2024/TT-BTC have helped the Vietnamese stock market to be more in line with the mandatory requirements of FTSE Russell.
Mr. Young Lee assessed that removing the requirement of having enough money when placing an order is an important requirement from investors and it takes a lot of time to amend the mechanism and policies. In fact, Vietnam has made important changes to this criterion in a short time and he is very happy and appreciates these efforts from the securities market management agencies in Vietnam.
Regarding the future prospects, Morgan Stanley representative said that if Vietnam's stock market is upgraded to emerging market status, it could attract 800 million USD from passive investors using the FTSE index and 2 billion USD from passive investors using other indexes. At the same time, when the market is upgraded, active funds will participate more actively and it is expected that about 4-6 billion USD will enter Vietnam.
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Chairwoman of the State Securities Commission Vu Thi Chan Phuong speaks at the meeting |
Also at the working session, the FTSE Russell delegation and the State Securities Commission exchanged and discussed the payment process for account deficits for failed purchase and sale transactions, the registration process for foreign investors' trading assets, the total asset mechanism, foreign investors' ownership ratio limit, trading infrastructure, etc.
At the meeting, the Chairman of the State Securities Commission also affirmed that the State Securities Commission is ready to exchange with FTSE Russell and Morgan Stanley both online and in person to further meet the investment needs of foreign investors participating in the Vietnamese stock market.
Source: https://nhandan.vn/ftse-rusell-va-morgan-stanley-lam-viec-voi-uy-ban-chung-khoan-nha-nuoc-ve-viec-nang-hang-thi-truong-chung-khoan-viet-nam-post843050.html
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