Ministry of Finance delegation goes to London to discuss upgrading Vietnam's securities market

At a working session in London, UK, Minister Nguyen Van Thang updated the development of Vietnam's economy and stock market.

Sharing more information with Ms. Julia Hoggett, General Director of LSE, Minister Nguyen Van Thang said that during this working trip, Chairwoman of the State Securities Commission Vu Thi Chan Phuong will also have a direct working session with FTSE Russell to discuss issues of upgrading the Vietnamese stock market.

The Ministry of Finance will also organize an Investment Promotion Conference in London on the morning of September 16 to provide investors in the London financial market with the most complete information about the Vietnamese financial market.

Minister Nguyen Van Thang worked with the London Stock Exchange and FTSE Russell.

The Minister said that by the end of August, the total stock market capitalization reached nearly 352 billion USD, equivalent to 79.5% of the estimated GDP in 2024. Market liquidity increased significantly, with some sessions having transaction values of over 3 billion USD. Since the beginning of the year, the average transaction value per session reached more than 1.1 billion USD per session, among the most active in the ASEAN region.

Providing more information on the issue of upgrading the stock market, Minister Nguyen Van Thang said that in recent times, the Vietnamese Government has made focused efforts to implement solutions to meet the upgrading criteria of FTSE Russell. “ We have made strong reforms and decisions by synchronously issuing many mechanisms and policies that take effect immediately to create the most favorable conditions for foreign investment capital to participate in the Vietnamese stock market ,” the Minister said.

In the spirit of cooperation and sustainable development, the Minister also emphasized and proposed a number of cooperation orientations between Vietnam and LSE in the coming time.

Overview of the working session.

Accordingly, Vietnam wishes to increase the exchange of experiences in building and perfecting the legal framework, market supervision mechanism, applying international standards on corporate governance, information disclosure and promoting sustainable growth (ESG), thereby enhancing transparency, safety and global integration.

At the same time, Vietnam is interested in learning from experience in developing new products to diversify securities products such as developing green bonds, sustainable bonds, and derivative securities instruments.

The Minister also proposed promoting joint investment promotion programs and promotional activities to build and deepen connections between Vietnamese enterprises and international investors, especially in the UK and Europe.

In addition, Vietnam also hopes to receive experience sharing in training, raising market awareness, strengthening the capacity of financial and securities human resources and applying financial technology (Fintech, AI, Blockchain) to contribute to improving the efficiency of market operations.

“With close cooperation, companionship and support from LSE, the Vietnamese stock market in particular and the Vietnamese financial market in general will grow stronger and stronger, contributing positively to the common prosperity of the two countries, as well as the region and the world,” the Minister believes.

Meanwhile, Ms. Julia Hoggett expressed her high consensus and confidence in the development of the Vietnamese stock market in the coming time. LSE will continue to promote cooperation to support the Vietnamese stock market in the issue of upgrading to emerging market status.

Ms. Julia Hoggett hopes that the cooperation between the two sides will have new developments and LSE will be an effective "gateway" for the Vietnamese market to connect with many other markets in the world.

Also at the working session, the Vietnam Stock Exchange (VNX) signed a Memorandum of Understanding (MOU) with FTSE International Limited (FTSE), officially establishing a strategic cooperation relationship to improve capital market infrastructure and promote Vietnam's international integration.

PHAM DUY

Source: https://vtcnews.vn/phai-doan-bo-tai-chinh-sang-london-ban-ve-nang-hang-chung-khoan-viet-nam-ar965629.html