Listed companies as "commodities" on the market
At the Conference on deploying the task of developing the stock market in 2024, Ms. Nguyen Thi Mai Thanh - Chairwoman of the Board of Directors of Refrigeration Electrical Engineering Corporation (REE) likened the capital market and the stock market to the backbone and blood vessels of the economy.
“The stock market is not only a place to “train” listed companies to do business more properly, transparently, responsibly and with obligations to stakeholders such as investors, sponsors, customers, employees and even tax obligations to the State. It also indirectly trains professional, diligent and honest managers, through which they can rise up to keep the value of shares constantly increasing,” affirmed the leader of REE.
REE Chairman Nguyen Thi Mai Thanh spoke at the conference.
Ms. Mai Thanh believes that this is a model that Vietnam has chosen early, contributing to creating an effective mobilization channel alongside traditional channels such as banks, serving the company's development in the medium and long term.
This is also the main reason why REE volunteered to list. Through this market, REE has issued shares 8 times and raised 2,800 billion VND to invest in expansion and continued development.
“We understand that issuing bonds and stocks requires transparency and businesses must place themselves within a legal framework and have a very high level of responsibility,” Ms. Mai Thanh emphasized.
REE leaders also likened listed companies to "goods" on the stock market, goods must be good and there must be no fakes. Investors always expect listed companies to have good growth and they are willing to invest more capital for this goal.
The key issue of enterprises in general and listed enterprises in particular, besides finance, technology, or management capacity, is the need for a long-term stable legal and policy framework. The current obstacles are slow administrative procedures and low efficiency.
Regarding bank interest rates, REE wants to bring interest rates for businesses to a more reasonable level. Specifically, the State Bank needs to continue to pay more attention to how to bring interest rates to a reasonable level so that businesses can use part of bank capital in addition to bond and stock capital to continue to develop and contribute to the economy.
How can technology help the stock market?
Also at the conference, Mr. Truong Gia Binh - Chairman of FPT sent his gratitude to the Government, Ministry of Finance, and State Securities Commission for giving FPT 100 days to "rescue" HoSE order congestion. Thanks to those 100 days of rescue, FPT had a new perspective on FPT. Since then, FPT shares have continuously grown.
FPT Chairman also talked about the successes of the bamboo diplomacy policy in Vietnam. Mr. Binh emphasized that only Vietnam has the highest diplomatic relations with China, Russia, the US, Japan, India and perhaps only Vietnam has free trade, priority and incentives. That is a great opportunity for the domestic and foreign business community to cooperate and work.
FPT Chairman Truong Gia Binh speaks at the conference.
In the context of Vietnam's current position, the Vietnamese stock market has done very well for many years, but FPT leaders feel that it is not worthy of its position. The Vietnamese stock market must rise to a new level equivalent to all stock markets of major market economies.
So what can technology do? Technology has 3 big words: DGI. D is Digital. In Thailand, the Ministry of Finance has a very good grasp of which companies invest in which companies, with such a transparent ownership relationship, many things will develop. We have data on this, we will build. Project 06 has too much data, how to make D transparent and have the same level as all countries.
G is Green. The world is entering a phase where if we don't do it, we can't export it, if we don't report it, we can't export it, if we don't do carbon accounting, we'll be taxed. Green transformation and digital transformation are a "perfect pair", if we can do it, we will have green capital, green bonds, green finance and that is a huge source for our economy to develop and also for Vietnam to integrate with the world.
The last most important word is I (artificial intelligence). It is the future, AI affects the economy, the stock market too much. We can protect the assets of the State, businesses, and people many times by fighting fraud.
Vietnam has potential in D, G, I. FPT leaders believe that the core issue is whether we can use the country's technological potential to develop the economy.
As a listed company, FPT representative said that thanks to being listed on the market, FPT can easily work with large corporations in the world. FPT will continue to strive to develop the best technology to serve the development of the stock market, the development of the economy and serve businesses in general .
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