If you want to go long, go far, play big, the stock market must be transparent.

Deputy Minister of Finance Nguyen Duc Chi. Photo: Phan Anh

Concluding the seminar "Creating momentum for upgrading the stock market" organized today (July 2nd) by the Lao Dong Newspaper in collaboration with the Ministry of Finance and the State Securities Commission, Deputy Minister of Finance Nguyen Duc Chi emphasized that the seminar was of paramount importance to the Ministry of Finance and the State Securities Commission (SSC). This was an opportunity to jointly raise issues, discuss problems, and propose solutions aimed at upgrading the Vietnamese stock market.

The Deputy Minister stated: "I highly appreciate the market participants' awareness of building a transparent and healthy market. I hope this spirit will spread even more strongly throughout the market, especially among listed companies."

The Ministry of Finance also highly appreciates the significance of today's seminar in achieving the goal of upgrading the stock market. To achieve this goal, we are ready to play a pioneering role. State management agencies are leading the way, but not alone. No one in the entire stock market is alone; everyone must go together. The State Securities Commission, listed companies, and media outlets… all must work together, aiming to upgrade the stock market as soon as possible."

Overview of the seminar "Creating momentum for upgrading the stock market". Photo: Phan Anh

Also at the seminar, Deputy Minister Nguyen Duc Chi clarified that in the Vietnamese stock market, the regulatory body is responsible for developing a roadmap. This roadmap is reflected in the Prime Minister 's decision approving the orientation for the development of the stock market until 2030.

The Ministry of Finance will continue its research to further develop the market. There's no need to look far; we can learn from exemplary markets that have developed significantly, such as South Korea, Hong Kong (China), and Singapore. Based on that, Vietnam must also selectively adapt and not simply apply the model to our stock market.

Mr. Nguyen Duc Chi, Deputy Minister of Finance, speaks at the seminar. Photo: Phan Anh

Regarding information transparency, the Deputy Minister stated that this responsibility primarily rests with businesses. They need to understand that this is not only an obligation but also a right.

"If we want to go the distance, go far, and play big, we must be transparent. Accuracy should be considered a given, a responsibility of businesses except in cases of force majeure. Regulatory agencies have established standards and requirements for businesses regarding information disclosure, so we should all work together to monitor them. Regulatory agencies, operators, investors, and the press should all work together to detect violations, and then handle them strictly, resolutely, and relentlessly, because the market never rests."

"While some businesses have already published information in two languages, it's not enough. We plan to revise the regulations related to this issue and have a roadmap. The revised circular is currently open for comments, and we hope that businesses and media outlets will provide quality information so that their feedback is valuable and timely, helping us to achieve the goal of upgrading the Vietnamese stock market soon," Deputy Minister Nguyen Duc Chi emphasized.

Source: https://laodong.vn/kinh-doanh/muon-di-dai-di-xa-choi-lon-thi-thi-truong-chung-khoan-phai-minh-bach-1360841.ldo