Strengthening supervision to ensure transparency of the stock market

By the end of June 2024, the VN-Index reached 1,245.32 points, up 10.2% compared to the end of the previous year. The average trading value per session on the entire stock market (HOSE, HNX, UPCoM) in 6 months reached VND 24,598 billion/session, up 39.9% compared to the average of the previous year. The stock market capitalization on June 28 reached more than VND 7,066 trillion, up 19% compared to the end of the previous year, equivalent to 69.1% of estimated GDP in 2023.

The number of investor securities accounts continues to grow, reaching more than 8 million accounts by the end of June 2024.

Also in the first 6 months of 2024, the derivatives market and government bond market both operated stably and maintained positive liquidity. Along with that, the positive recovery of the domestic macro economy has supported the business activities of most listed companies and large-scale registered trading companies to achieve positive results. Total profit after tax in the first quarter of 2024 increased by 3.4% over the same period last year.

In the first 6 months of 2024, the Commission has carried out many tasks and plans such as: Drafting legal documents; managing the activities of securities trading organizations; securities offering activities, managing public companies, controlling audit quality; inspecting, supervising, handling violations; foreign cooperation; and information and propaganda... In addition, the State Securities Commission has continued to coordinate with relevant units, actively and resolutely, implementing solutions so that the Vietnamese stock market can meet the upgrading criteria. The efforts and solutions proposed by the management agency have been positively evaluated by international organizations, market members...

At the Conference, Chairwoman Vu Thi Chan Phuong requested the units of the State Securities Commission and the Stock Exchanges, the Vietnam Securities Depository and Clearing Corporation to continue their efforts, determination, and effective coordination to carry out the key tasks of the securities industry. Accordingly, the units need to closely follow the proposed plans and solutions to effectively implement all aspects of work, focusing on 6 key objectives.

One, continue to improve the legal framework and policy system for market development. Focus on implementing the State Securities Commission's Action Program to implement the Stock Market Development Strategy until 2030.

Two, promote modernization of technology infrastructure, enhance application of science and technology.

Third, strengthen supervision, inspection and examination to ensure the stock market develops sustainably, openly and transparently; promptly detect and strictly handle violations.

Fourth, continue restructuring securities companies and fund management companies to improve the operational capacity and financial safety of securities trading organizations.

Five, diversify the investor base, develop the institutional investor system, encourage long-term foreign investment, and train individual investors.

Six, promote foreign affairs and international cooperation, organize regular dialogues between management agencies and management agencies of other countries and international organizations to have solutions and policies suitable to the world situation and Vietnam's conditions.

Source: https://laodong.vn/kinh-doanh/tang-cuong-giam-sat-dam-bao-tinh-minh-bach-cua-thi-truong-chung-khoan-1367388.ldo