|A statue of a bull and bear outside the HCM City Stock Exchange. Prime Minister Nguyễn Xuân Phúc has approved a plan to establish the Việt Nam Stock Exchange based on the restructuring of the two existing bourses with the aim of ensuring the securities market operates with efficiency and transparency. — Photo hsx.vn
HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has approved a plan to establish the Việt Nam Stock Exchange based on the restructuring of the two existing bourses with the aim of ensuring the securities market operates with efficiency and transparency.
The Hà Nội–based Việt Nam Stock Exchange will operate as a parent company for the Hà Nội Stock Exchange and HCM City Stock Exchange.
The Việt Nam Stock Exchange would have a charter capital of VNĐ3 trillion (US$130 million) and be a State wholly-owned limited company with the Ministry of Finance acting as representative for State capital ownership.
The two subsidiary exchanges would operate independently and have their own legal status.
The exchange would be in charge of developing operational plans and strategies, issuing regulations about stock listings and trading, and supervising the operation of the two subsidiary exchanges.
The foundation of the exchange would be divided into two phases to ensure the markets still operated stably and smoothly.
From, 2019-20, operations at the Hà Nội and HCM City exchanges would continue as usual while the Việt Nam Stock Exchange was being built.
From 2020-23, a market information system would be put into operation at the Hà Nội and HCM City exchanges.
The Việt Nam Stock Exchange would be privatised after 2023.
Experts said the market was expecting the launch of new securities products and tools once the development of the market information system was completed. — VNS