Prime Minister: Strictly handle violations to protect genuine investors and businesses
Prime Minister Pham Minh Chinh: The Government will take all necessary measures to stabilize and develop an open, transparent, safe, healthy and sustainable market, contributing to socio-economic development. bring happiness and prosperity to the people (Photo: Duong Giang)
Rapid growth in both breadth and depth
On the afternoon of April 22, Prime Minister Pham Minh Chinh chaired a conference to develop a safe, transparent, efficient and sustainable capital market in order to stabilize the macro-economy and ensure major balances of the economy. .
Speaking at the opening of the conference, Prime Minister Pham Minh Chinh said that over the past time, Vietnam’s capital market has developed rapidly in both width and depth. The scale, product and liquidity increased rapidly, contributing to mobilizing financial resources that are very important for the economy, supporting and supplementing the traditional capital supply channel, which is bank credit.
The capital market has been formed and fully operated with components including: Stock market, bond market, derivative securities market.
“The average growth scale is 28.5%/year in the period 2016-2021, in 2021 it will reach 134.5% of GDP, 3.5 times higher than 2015. The daily transaction value has increased sharply, on average since the beginning of the year. Up to now, it has reached VND 30.8 trillion, an increase of 15.9% over the same period in 2021. The number of newly opened securities accounts is 3 years ahead of the set target”, the Prime Minister cited.
Prime Minister Pham Minh Chinh chaired the conference to develop a safe, transparent, efficient and sustainable capital market in order to stabilize the macro economy and ensure major balances of the economy.
However, the Prime Minister said that besides the positive results achieved, he also frankly acknowledged that the capital market still has limitations and shortcomings in terms of market structure, infrastructure, technology, human resources, and system. market information system… In particular, some organizations and individuals violate the law when participating in the market.
“The violations are only a minority. The handling is necessary, contributing to protecting the legitimate rights and interests of the majority of investors, genuine businesses, operating in a healthy manner and complying with the law.” Prime Minister affirmed.
According to the Head of Government, this is also a necessary step to clean up the market so that the market can be better, healthier, safer and more sustainable.
The guiding view throughout and consistent in capital market development
Regarding the direction of the direction of the capital market, Prime Minister Pham Minh Chinh said that the Government and the Prime Minister have issued many guiding documents, not only recently but also from the second half of the year. 2021 (immediately after the Government period this term is completed). In particular, the guiding view throughout, consistently is:
The firstencourage and create all favorable conditions for organizations and individuals to participate in the market, operate in a healthy and efficient manner, and strictly comply with the provisions of the law.
Secondresolutely handle individuals and organizations that intentionally violate regulations, group interests, take illegal profits and protect the interests of investors and businesses, respect and comply with the law.
Tuesdaytake all necessary measures to stabilize and develop an open, transparent, safe, healthy and sustainable market, contributing to the promotion of socio-economic development, bringing happiness and prosperity to the community. people.
The message given by the Government and the Prime Minister is: Clean and healthy the market, protect the legitimate rights and interests of the investor and business community, and put the market on a fast development trajectory. , efficient, sustainable.
Prime Minister Pham Minh Chinh: The Government will take all necessary measures to stabilize and develop an open, transparent, safe, healthy and sustainable market, contributing to socio-economic development. bring happiness and prosperity to the people. VGP/Nhat Bac photo
The Prime Minister stated that we are not subjective, but have a solid foundation and believe in the development of the market, stemming from the reality of the situation and development prospects of the Vietnamese economy, as well as the development prospects of the Vietnamese economy. Similar to the view that many reputable financial, monetary institutions, international and domestic experts have affirmed: The capital market and Vietnam’s stock market have solid foundational factors from potential, development and growth. prospects of the economy and the dynamism and efficiency of the business sector and with the help of international friends. With those conditions, we can rise to become one of the successful emerging markets of the region and the world.
The size of the capital market grows at an average of 28.5%/year in the period 2016-2021. Currently, the capital market size will reach 134.5% of GDP in 2021, 3.5 times higher than the size in 2015; in which the stock market capitalization is equivalent to 93.8% of GDP; the size of the bond market reaches 39.7% of GDP (of which government bonds are 22.7% of GDP and corporate bonds are 14.2% of GDP).
The market currently has over 1,800 public companies, 750 listed companies. The process of restructuring market organization and securities trading organizations has been accelerated with the number of securities companies decreasing by 18% compared to 2015, currently there are 82 securities companies on the market. Information technology infrastructure, transaction system, clearing and settlement on the stock market have been modernized, allowing to shorten processing time and improve market liquidity.
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