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“Decrease opaque, clear” so that the market develops transparently and sustainably

“Removing the grit” will have a positive impact on the stock market in the medium and long term

The stock market has been under downward correction pressure and strong volatility since the end of March until now. The VN-Index closed on April 25 at 1,310.92 points, so it has adjusted down by more than 200 points compared to the end of March. Talking to the press, Minister of Finance Ho Duc Phuc said that, This is a relatively strong correction of Vietnam’s stock market under the combined influence of many different domestic and international reasons, both objective and subjective.

Accordingly, in the world, inflationary pressure increased, causing major central banks to tighten policies, most notably the US Federal Reserve (FED) raised the operating interest rate after 3 years. . Along with that, the conflict situation between Russia and Ukraine increases the risks for the global economic recovery, especially when energy prices, input material prices increase sharply, etc. That has affected many stock markets in the world. the world, causing many markets to plummet.

Minister of Finance:

Minister of Finance Ho Duc Phuc

“The Vietnamese stock market’s sharp decline was also partly similar to the world’s general decline, for example, in the sharp drop (more than 68 points) on April 25, the world’s major markets also dropped significantly. deep. Besides, the adjustment pressure after a long uptrend and the cautious sentiment in the market before single cases have caused the market to fluctuate strongly in a downward direction”, said Minister Ho Duc Phuc.

Regarding the purification and handling of errors in the individual stock and corporate bond markets, the Minister of Finance said that the recent events are just isolated incidents, only having an impact. affect market sentiment in the short term. This is a great effort and determination from the Government, the Ministry of Finance and other authorities to purify and healthy the stock market.

“Although it is difficult to avoid psychological impacts in the short term, “removing the grit” will have a positive impact on the development of the stock market in the medium and long term. Because the regulatory agency’s goal is to build and develop a safe, transparent and sustainable securities market, market purification will contribute to ensuring the interests of genuine businesses and investors. increase the attractiveness of the stock market in attracting more investment capital flows both at home and abroad, helping to support the process of upgrading from marginal to emerging”, the Finance Minister said.

The resolute handling of violations may affect investor sentiment in the short term, causing the market to slow down, but it is an effort to make the growth market more transparent and sustainable. Because in every development process, there is always a need for changes and moves to be more complete and the same goes for the stock market. After the development stages, actions are also needed to “cleanse and clear”.

“The Vietnamese stock market still has positive supporting factors from the macro economy and the internal market. Therefore, we fully believe in the future, Vietnam stock market will develop more and more complete and better quality, affirming its role as the main medium and long-term capital mobilization channel of the economy. , enterprise; At the same time, it is an attractive, safe and effective investment channel for investors”, emphasized Minister Ho Duc Phuc.

“Pre-check, post-check” to protect the interests of investors and companies in the market

In order for the stock market to develop stably, healthily, transparently and sustainably in the coming time, Minister Ho Duc Phuc said that in addition to many solutions to support and promote the stable and sustainable development of the market, The Ministry of Finance will have solutions to prevent, ie “pre-check, post-check”, to protect the interests of investors, as well as companies operating in the market in an equal and transparent manner. and most correct. Accordingly, regarding the legal framework, the Ministry of Finance will continue to improve the legal framework in order to strengthen and tighten conditions for the healthy development of the market, like “building roads but adding new measures to the development of the market. regulations to prevent accidents”.

Regarding the operation and management, the Ministry of Finance has also directed the State Securities Commission, the Department of Finance and Banking, the Department of Management, Accounting Supervision, Auditing and other functional units to implement the same A set of solutions in the direction of both supporting and creating conditions for the market to develop stably, while strengthening supervision, inspection, examination and strict handling of violations to increase market discipline and discipline.

“The Ministry of Finance has directed to continue restructuring securities companies, fund management companies review, classify, check on the spot, develop plans for each company to take measures to deal with the situation. ; continue to develop and diversify investment fund types in order to improve the quality of investment demand, towards sustainable investment demand. Along with that, implementing solutions to ensure a smooth transaction system, minimizing transaction congestion; complete the project of information technology modernization; study the legal framework for the development of new services and products on the Vietnamese stock market”, Minister Ho Duc Phuc informed.

Regarding the corporate bond market, in addition to perfecting the legal framework, the Ministry of Finance has directed functional units to strengthen supervision, inspection and correction of violations. The State Securities Commission will inspect and correct securities trading organizations, especially in the matter of violations and circumvention of regulations on professional securities investors.

“We also directed the Department of Management, accounting supervision and auditing to apply both direct and indirect measures. Accordingly, it will directly check the audited financial statements at the issuers, and also check the auditing companies that have audited those businesses. If violations are found, strictly handle the irresponsible independent audit units to make mistakes,” the head of the Ministry of Finance added.

The Commander of the Ministry of Finance also affirmed that he will give full support to law-abiding businesses and genuine investors, but at the same time will strictly, decisively and quickly handle violations on the stock market.

“We respect the law and marketability of the stock market, as it is a market, there are times when it goes up and down because it has to obey the supply and demand of buyers and sellers. Our goal is to build the stock market into a transparent, fair and equal playground for all players in the spirit of respecting the law. The State respects the objective laws of the market, but always has reasonable supervision, management and regulation based on the provisions of the law. The good, the basic and positive value factors will always be supported”, the Commander of the Ministry of Finance affirmed.

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