Mobilize all domestic and foreign resources to attract capital

The conference was chaired by Party Central Committee member and Minister of Finance Nguyen Van Thang. Also attending were leaders of Party agencies, the National Assembly, ministries, sectors, localities, embassies, international financial organizations, leading investment funds in the world, FDI enterprises, financial institutions, stock market members, small and medium enterprises.

Party Central Committee member, Minister of Finance Nguyen Van Thang spoke at the conference.

Speaking at the opening of the conference, Finance Minister Nguyen Van Thang emphasized that after nearly 40 years of renovation, Vietnam has achieved many great achievements in socio-economic development with a consistent policy of promoting socialization, diversifying resources for development investment, and effectively attracting both domestic and international capital sources.

Delegates shared their opinions and experiences in attracting resources for economic development.

2024 marks a successful year for the economy and capital market with total mobilized capital reaching nearly VND930 trillion, 1.3 times higher than the previous year, equivalent to 25% of total social investment capital. In 2024, the stock market capitalization scale will reach 62.5%.

Along with the growth of indirect investment capital, total realized foreign direct investment capital in 2024 reached 25.4 billion USD, up 9.4% over the previous year, reaching the highest level ever.

These results have positively contributed to GDP growth of 7.09%, bringing the size of Vietnam's economy to 476.3 billion USD, ranking 33rd in the world.

However, Mr. Nguyen Van Thang also stated that despite achieving positive results, the economy still faces many challenges.

Specifically, in the field of securities investment funds, the total net asset value of funds accounts for only 1.2% of market capitalization, while the total value of assets managed by fund management companies is only equivalent to 3.4% of the total assets of credit institutions.

Notably, although the number of investors in the stock market has increased, foreign investors' trading accounts still account for a very low proportion, only 0.5%.

"The operations of the securities investment fund system are not commensurate with its development potential. Regarding FDI activities, there are still obstacles in implementation related to land, construction, customs duties, administrative procedures and foreign exchange," Minister Nguyen Van Thang emphasized.

At the conference, delegates focused on assessing the current situation, sharing experiences and proposing solutions to attract resources for economic development through investment funds and foreign investment.

The multi-dimensional consultations and contributions of the delegates clarified bottlenecks and proposed solutions to encourage investment funds, foreign investors, financial institutions, and foreign direct investment (FDI) enterprises to actively participate in investment in Vietnam.

From there, it helps management agencies proactively have policy solutions to enhance the competitiveness of the domestic capital market, improve the investment and business environment, contributing to creating growth momentum for the economy.

View of the Conference "Investment funds and foreign investment in the new development era of Vietnam".

Chairwoman of the State Securities Commission Vu Thi Chan Phuong shared that to achieve the double-digit growth target in the coming time, Vietnam needs to mobilize and effectively use financial resources, both domestic and foreign.

In that context, the capital market, especially the stock market, must assume the role of the main medium- and long-term capital mobilization channel. At the same time, the investment fund industry also needs to be promoted to develop more strongly.

Ms. Vu Thi Chan Phuong added that the development of investment funds not only helps attract long-term capital but also contributes to building a stable and sustainable investor system.

In addition, expanding diversified investment funds such as index funds, ESG funds or infrastructure funds not only increases attractiveness to international investors but also creates an important driving force to help the stock market develop stably, thereby supporting economic growth and realizing the Government's strategic goals.

To achieve these goals, the State Securities Commission is implementing many important solutions, including training and disseminating knowledge to individual investors, diversifying types of investment funds and stock indexes, developing commodities on the stock market, as well as increasing investment limits of funds.

In addition, the State Securities Commission also recommended relevant agencies to diversify fund certificate distribution channels to help investors access more easily, especially individual investors.

At the same time, propose appropriate tax policies to encourage people to participate in investment through investment funds, thereby creating a solid foundation for the long-term development of Vietnam's capital market.

Minister Nguyen Van Thang added that the Government has determined to remove bottlenecks in capital attraction and maximize resources to achieve the target of economic growth of at least 8% this year, reaching double digits in the future, bringing the country into a period of sustainable development.

"To achieve this goal, the Ministry of Finance will focus on mobilizing both domestic and foreign resources, especially through investment funds and FDI capital," Mr. Nguyen Van Thang emphasized.

According to nhandan.vn

Source: https://baoninhthuan.com.vn/news/152377p1c25/huy-dong-moi-nguon-luc-trong-ngoai-nuoc-de-thu-hut-nguon-von.htm