Stock market development conference will be held in the first quarter of 2024

Speaking at the ceremony, Deputy Minister of Finance Nguyen Duc Chi assessed that in the context of many difficulties and challenges in 2023, the stock market continues to develop sustainably.

According to the Deputy Minister, this is not the opinion of the Ministry of Finance or the state management agency alone, but the general opinion of the market, from many perspectives, from market members, experts... "We are very pleased that the market has many significant improvements, the market develops with the rule of law, discipline, the rights and legitimate interests of all market participants are guaranteed and respected" - The leader of the Ministry of Finance shared.

Entering 2024, the Deputy Minister of Finance said that the stock market still faces the unpredictability of the world economy, with both advantages and disadvantages intertwined. Accordingly, the Ministry will continue to direct relevant agencies to proactively propose solutions for the market to continue to develop.

Specifically, in the first quarter of 2024, the Ministry and the State Securities Commission will organize a conference on stock market development with the participation of many market members, ministries, branches, experts... towards the market goals approved by the Prime Minister in the stock market development strategy. The conference will be attended by Government leaders, the Ministry of Finance will discuss longer and more specific solutions.

To achieve these goals, the Deputy Minister of Finance mentioned a number of tasks and solutions that need to be implemented in 2024 as well as in the coming time, specifically:

Firstly , continue to review the legal framework regulations directly related to the stock market, namely the Securities Law, Decrees 155/2020/ND-CP, Decree 156/2020/ND-CP, and documents under the Securities Law.

In addition, proactively review the regulations of some other laws related to the market such as the Enterprise Law, Investment Law, regulations that have strong and profound impacts on the market. If there are necessary additional regulations, propose amendments to create a suitable and effective legal framework.

Second , continue to maintain the stable and safe operation of the trading and payment systems, which are the market's mainstay. Securities depository offices and companies continue to implement all solutions to maintain the stable and safe operation of the system.

Third , ensure effective monitoring and inspection of operations, detection and strict handling of violations. All violations must be detected promptly, handled strictly, and deterrence must be increased to ensure all legitimate rights and interests, and no entity can take advantage.

Fourth , the goal is to bring the Vietnamese stock market to a new level of development in quality and upgrade in the shortest time. Proactively implement solutions to upgrade the stock market.

To achieve this goal, it requires efforts from state management agencies, stock exchanges, depository companies, relevant agencies, listed enterprises, etc. to have a market at a new level in the ranking.

Finally, the information is communicated to the investing public, to all those interested in the stock market in the best, most transparent and fastest way, so that everyone understands the stock market more and more deeply, so that when participating in the market, they voluntarily comply with legal regulations.

“Personally, I have a deep belief that in 2024, the Vietnamese stock market has every basis to continue to develop steadily on the basis of a stable macro-economy, bringing benefits to market participants and non-market participants through promoting the role of the market, contributing much to socio-economic development,” said the leader of the Ministry of Finance.

According to HOSE, in 2023, the average trading volume per session will reach 736.7 million shares, equivalent to an average trading value of VND 15,120 billion; an increase of 12.62% in average volume and a decrease of 11.07% in average value compared to 2022. The listed capitalization value will reach more than VND 4.55 million billion, accounting for more than 93.3% of the total listed capitalization value of the whole market and equivalent to 47.9% of GDP in 2022 (GDP at current prices).

According to Ms. Nguyen Thi Viet Ha, Acting Chairwoman of HoSE, in 2024, HoSE will focus on safely and smoothly operating the new information technology system; improving the quality of listed goods and corporate governance; enhancing the application of information technology in management and supervision. At the same time, improving the capacity of staff to meet the requirements of assigned key tasks, contributing to the common tasks of the securities industry.

Source: https://baophapluat.vn/se-to-chuc-hoi-nghi-phat-trien-thi-truong-chung-khoan-ngay-trong-quy-i2024-post504246.html