The Vietnam stock market is anticipated to develop in both scale and quality of operation this year, affirming its role as an effective capital mobilising channel for the local economy, according to Minister of Finance Dinh Tien Dung. 

Delegates at the gavel striking ceremony to mark the opening of
the first trading session of 2021 (Photo: BNews/VNA)

Minister Dung made the statement during a gavel striking ceremony held on January 4 to mark the opening of the first trading session of 2021.

During the ceremony, the Minister emphasised that 2021 can be considered an important year for national politics due to the organisation of the upcoming 13th National Party Congress expected to provide a solid foundation for the local economy and the stock market this year.

Furthermore, the amendment of the Investment Law and Enterprise Law, especially the official enforcement of the Law on Securities, is anticipated to create a new legal foundation to enhance competitiveness, improve transparency, and the operational efficiency of stakeholders towards the sustainable development of the Vietnamese stock market.

With regard to key objectives ahead throughout the year, Minister Dung requested that the State Securities Commission and relevant units continue to fine-tune the legal system for the securities market, speed up the restructuring of the securities and insurance markets, whilst also accelerating the equitisation process of State-owned enterprises.

This should be done alongside increasing market size and liquidity, and introducing new products in transactions over the course of 2021, he stressed.