Deputy Minister of Finance: Investors overreact in the stock market

That was the comment of Deputy Minister of Finance Do Thanh Trung at the regular Government press conference on the afternoon of April 6.

Deputy Minister Do Thanh Trung said that the recent US reciprocal tax imposition does not only apply to Vietnam but also to countries around the world . This has a great impact on psychology, the business investment environment as well as business investment prospects.

However, in that context, the Government intervened very quickly. However, according to Mr. Trung, the reaction of investors was "excessive", especially in the stock market in the past few days. In just two days, the VN-Index lost more than 100 points.

"With the Government's efforts, we will certainly regain the trust of investors and businesses," Mr. Trung emphasized.

Deputy Minister of Finance Do Thanh Trung speaks at the press conference.

Deputy Minister Do Thanh Trung also said that he is working with major investors on foreign investment. The FDI target for 2025 is still to attract 40 billion USD in registered capital and 28-29 billion USD in disbursed capital. This target is difficult, but according to the leaders of the Ministry of Finance, they will continue to strive.

In addition, answering reporters about the progress of the pilot implementation of digital currency, after the Ministry of Finance submitted this project in March.

Deputy Minister Do Thanh Trung said that the ministry has proposed that the Government acknowledge the existence and potential of digital assets.

“The Government directed the Ministry of Finance to develop a legal framework last March. The Ministry has coordinated with ministries and branches to implement it. The implementation of this issue must be cautious, have a roadmap, be suitable for practice, ensure safety, transparency and efficiency. Therefore, a pilot will be implemented in the crypto-asset trading and issuance market,” said Deputy Minister Do Thanh Trung.

The Ministry of Finance has drafted a document to solicit opinions from ministries and branches, then finalized it and consulted with the Ministry of Justice. The ministry's leaders hope to soon have specific information for implementation.

This implementation will be piloted right in the trading market.

"We have to clarify that this is not a stock. But it still opens up a new channel of capital mobilization for businesses," said Mr. Trung.

According to Mr. Do Thanh Trung, the pilot implementation in the market also needs to comply with the laws of Vietnam and other countries where investors participate in the cryptocurrency market.

Based on the Government's conclusion and the direction of Deputy Prime Minister Ho Duc Phoc, the Ministry of Finance has issued a document, sent it to ministries and branches for comments and will complete it and seek comments from the Ministry of Justice.

"We are currently synthesizing, absorbing, and finalizing the draft resolution before submitting it to the Government. Regarding the time and implementation roadmap, we have not mentioned it in today's press exchange," said Deputy Minister Do Thanh Trung.

PHAM DUY - ENGLISH

Source: https://vtcnews.vn/thu-truong-tai-chinh-nha-dau-tu-phan-ung-thai-qua-tren-thi-truong-chung-khoan-ar936090.html