Tuesday, June 27 2017

VietNamNews

Finance minister urges to improve the nation’s securities market

Update: January, 04/2017 - 09:57
Minister of Finance Đinh Tiến Dũng yesterday struck the gong to open the first trading session of 2017 on the Hà Nội Stock Exchange. — Photo baodautu.vn

HÀ NỘI — Minister of Finance Đinh Tiến Dũng yesterday struck the gong to open the first trading session of 2017 on the Hà Nội Stock Exchange.

Dũng urged Government agencies and market members to improve the current conditions of the securities market to promote it as a channel to raise funds for socio-economic development and increase the competitiveness of the economy.

“The securities regulators need to improve the policies to meet the country’s economic conditions and match international standards,” Dũng said.

“We should keep restructuring the securities market and regulatory agencies, including the merger of the two local exchanges, increase the scale and quality of the market, diversify the products and make sure the market runs efficiently and sustainably.”

“We have to be well-prepared to launch the derivatives market in the second quarter of 2017, study and develop derivative products to meet the demand of investors and improve risk management for the derivatives market,” Dũng said, urging Government agencies to complete the legal and technical system so that corporate bond market can operate in 2018.

“Market regulators and relevant agencies need to improve the quality of Government bond issuance to raise more capital for the country’s development, seek for more investors to buy Government bonds and diversify bond products, tighten the policies to monitor local authorities in using the money raised from bond issuance and encourage them to actively call for the participation of private investors in the local areas.”

“We also need to push State-owned enterprises (SOEs) to sell the State’s capital and get listings on the securities market, work with large-cap corporations and Government agencies to implement more effectively the policies on equitisation and restructuring of the SOEs.” — VNS

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