JICA supports capacity building and transparency of Vietnam's stock market

Within the framework of the working program in Japan (May 20-28), the delegation led by Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong worked with the Japan International Cooperation Agency (JICA) to share experience in market management and supervision.

Bà Vũ Thị Chân Phương, Chủ tịch Ủy ban Chứng khoán Nhà nước (SSC) cùng Đoàn công tác làm việc với Cơ quan Dịch vụ Tài chính Nhật Bản (JFSA) nhằm trao đổi công tác quản lý, giám sát thị trường chứng khoán, ngày 26/5.(Nguồn: TTXVN)

Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC) and the working delegation worked with the Japan Financial Services Agency (JFSA) to discuss the management and supervision of the stock market, on May 26. (Source: VNA)

The two sides focused on discussing the Project "Enhancing capacity on promoting the efficiency of the stock market" to be implemented in the coming period.

Ms. Miyazaki Katsura, Vice President of JICA, highly appreciated the achievements of the project "Enhancing capacity, improving fairness and transparency of Vietnam's financial market" after it ended in March 2023. The Vice President of JICA also acknowledged the efforts, contributions and participation of SSC during the project implementation.

On the SSC side, Ms. Vu Thi Chan Phuong expressed her gratitude to the Japanese Government, the stock market management agencies, especially the support of JICA through projects throughout the formation and development of the Vietnamese stock market.

Over the past 22 years, the Vietnamese stock market has grown and affirmed itself as an important medium and long-term capital channel for the economy and businesses. The attractiveness of the stock market has attracted more and more domestic and foreign investors to participate; including investors from Japan.

The Chairman of SSC shared that in the coming time, SSC will strengthen its capacity in management and supervision to support the promotion of a more transparent and sustainable stock market development.

Ms. Vu Thi Chan Phuong also said that the Covid-19 pandemic affected but did not interrupt JICA's support for SSC in the Project "Enhancing capacity, improving fairness and transparency of Vietnam's financial market" implemented from 2019 to 2023.

JICA's effective support in this project has helped Vietnamese management agencies, stock exchanges and related units improve their practical capacity in market inspection and supervision, as well as increasingly improve regulations to protect investors and shareholders, especially small investors and shareholders.

SSC Chairwoman Vu Thi Chan Phuong hopes that the project "Improving capacity to promote the efficiency of the stock market" to be implemented in the coming period will bring more efficiency and significance to the transparent, fair and sustainable development of the Vietnamese stock market.

Accordingly, SSC hopes that the new project will continue to improve the capacity of management agencies and related units in managing, inspecting, examining and supervising transactions in the market, promoting transparency, discipline and order for the Vietnamese stock market.

Along with that, the project will contribute to improving the management capacity of management agencies for market intermediary organizations such as securities companies, fund management companies, accounting and auditing service providers, as well as professional organizations and associations...

SSC leaders hope that when implemented, the new project will continue to support management agencies in improving their management and supervision capacity for the activities of listed companies registered for trading on the stock market such as: issuing securities to the public, disclosing information, quality of financial reports, ensuring the rights of shareholders and investors.

Ms. Miyazaki Katsura said that JICA is promoting the completion of procedures to soon implement the new project in the next phase. Japanese investors are looking towards sustainable investment and investing in activities that ensure environmental factors and social stability.

Therefore, through this project, SSC will further promote the requirement for sustainable development information disclosure, which incorporates the requirement for ESG information disclosure (Environmental, Social and Governance Reporting).

The leaders of SSC and JICA expressed that the support and cooperation of the two units in the coming time will bring about many practical effects and create more positive changes, thereby contributing to the stable, transparent and sustainable development of the Vietnamese stock market, as well as the closer strategic partnership between Vietnam and Japan.

Also during the working trip to Japan, SSC Chairwoman Vu Thi Chan Phuong and the delegation also visited and worked at the Japan Stock Exchange Group and the Japan Securities Business Association.

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