Billionaire Nguyen Thi Phuong Thao said "without playing the stock market, still saved HOSE"

On the afternoon of September 30, in Ho Chi Minh City, the Private Economic Panorama Program (ViPEL) organized a special meeting of Committee I on financial technology and digital assets.

Here, representatives of financial enterprises such as banks, securities companies, etc. attended and discussed connecting the strength of state-owned and private enterprises, and orienting public-private development together.

Billionaire Nguyen Thi Phuong Thao tells the story of "rescuing" the HOSE floor

Speaking at the opening of the event, representing the private sector, Ms. Nguyen Thi Phuong Thao, Chairwoman of the Board of Directors of Sovico Holdings Group, shared: “With the resources of the private sector, we can completely develop technology to apply to business operations, administration, etc. However, to contribute to large national programs, the story is no longer simple.”

Ms. Thao recounted the story of “rescuing” the HOSE floor withFPT Corporation in 2020. This year, the number of new investors entering the stock market increased dramatically, leading to a surge in the number of orders and trading session liquidity on HOSE. There were sessions when market liquidity increased dramatically to 15-17 trillion VND, leading to a situation of order congestion.

According to HOSE statistics, at that time, the Top 20 leading securities companies had orders entering the floor increase at least 3 times, on average 5-6 times, and in some companies, the number of orders entering the floor increased 13-18 times. The number of orders entering the floor in many sessions exceeded the design capacity of the entire system, causing order congestion, greatly affecting the process of "cutting losses, closing profits", making investors worried and frustrated.

“Personally, I am not a stock market participant, do not have stock assets and do not buy or sell stocks. However, when I heard that the HOSE floor was facing the risk of congestion, many large enterprises had to consider transferring transactions, many investors lost their opportunities… I discussed with Mr. Truong Gia Binh, both sides determined that it was feasible to bring the solution from the Hanoi Stock Exchange to Ho Chi Minh City,” Ms. Thao recounted.

In terms of expertise, Sovico and FPT are confident in their ability to help HOSE expand its volume, increase its trading volume, and add other features to the floor. However, the question is, what I want to do and how I want to help is: “but who will let me do it?”, the billionaire asked.

At this time, during the meeting between the Prime Minister and the private sector, FPT representatives boldly proposed the idea. That same day, the Prime Minister agreed to allow Sovico and FPT to participate in proposing ideas to the Ministry of Finance.

Ms. Thao said that with the Prime Minister's approval, private enterprises were allowed to access and participate in the processing with the Ministry of Finance. The difficulties did not stop there, in order to mobilize technology staff to Ho Chi Minh City to process, Ms. Thao continued to ask for permission from the State to get a pass. After all the efforts, exactly 100 days as planned, the "go-live" project was successful.

The cost of resources is all arranged by private enterprises. However, after that, they started to encounter problems with acceptance and approval from HOSE. According to Ms. Thao, because there are no regulations, no one dares to accept...

Although it will take a few more months for businessmen to lobby for the completion of procedures, Sovico's Chairman shared that the results have proven that the project has been operating continuously and stably for the past four years, while the investment cost was only a few million USD.

Call for private enterprises to take the lead

Ms. Thao shared that if at that time, businessmen were not pioneers in asking to contribute and dedicate themselves, the ideas could not have become reality.

With the above story, Ms. Thao affirmed that there are many private enterprises capable of providing breakthrough solutions, contributing to the Vietnamese economy in particular and the entire region in general. At the same time, many private enterprises also crave recognition.

"We have the ability to create value, special creativity in the field of technology, or have pioneering fields such as digital assets, then with the light from Resolution 68 of the Politburo, the private economy is the driving force of economic growth, how should we act? Let's contribute and pioneer, rush forward to implement national projects and programs that we previously did not have the opportunity to, stuck in mechanisms", Ms. Thao expressed.

However, Vietnam lacks a strong public-private coordination mechanism and a comprehensive strategy for the private sector to participate in solving the national “big problem”.

Resolution 68 has paved the way, allowing the assignment of major tasks to pioneering private enterprises, thereby shortening the process of accumulating capacity for investors, general contractors, and operators. Therefore, a specific mechanism is needed to turn this policy into action.

Billionaire Nguyen Thi Phuong Thao said she did not play the stock market, but still saved HOSE - 1

Overview of Vietnam's private economy 2025, thematic meeting of Committee I on financial technology and digital assets (Photo: DT).

General Director of the 10,000 billion VND digital asset exchange: Completely Vietnamese technology

Participating in giving his opinion, Mr. Le Hoa Nha - General Director of HVA Investment Joint Stock Company (HVA Group, stock code: HVA) - shared about the digital asset floor with a capital scale of 10,000 billion VND.

On September 9, Deputy Prime Minister Ho Duc Phoc signed and issued Resolution No. 05/2025 of the Government on piloting the crypto asset market in Vietnam. This Resolution takes effect from September 9. The pilot implementation period is 5 years.

Accordingly, HVA Company has planned to establish the DNEX digital asset trading floor with an introduction of a cooperation capital scale for the project of about 10,000 billion VND, mobilized from strategic investors in each phase.

Sharing at the meeting this afternoon, Mr. Nha said: “We are ready in terms of technology, marketing and have 7 million users. HVA has also built a Blockchain exchange, supporting the DNEX exchange…”. Mr. Nha affirmed that the technology used for this project is completely Vietnamese.

Initiated by Board IV and the business community, with the support of the Government, the model of "Public - Private Partnership for Nation Building" aims to mobilize maximum social resources. The goal is to build a strong and prosperous Vietnam.

ViPEL consists of two pillars: rapid action and long-term strategic mechanism. In particular, with rapid action, from 2025, the ViPEL 20-200-2,000 portfolio will be deployed with the targets of 20 national-level projects (infrastructure, core technology, new energy, etc.); 200 local-level projects (logistics, human resources, regional advantages); 2,000 grassroots-level projects (high-tech agriculture, community tourism, etc.).

ViPEL's core force, coordinated by Board IV (public-private bridge), the Executive Council includes leaders of large corporations such as FPT, Sovico, VinaCapital, U&I, Geleximco, PNJ...

Source: https://dantri.com.vn/kinh-doanh/ty-phu-nguyen-thi-phuong-thao-ke-khong-choi-chung-khoan-van-cuu-hose-20250930152034691.htm