The Ho Chi Minh City Stock Exchange, in collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW), and Smart Train held an event themed "Ring the Bell for Financial Literacy” in HCM City on September 30.

At the event (Photo: Sai Gon Giai Phong Finance and Investment newspaper) 

The occasion is held in response to World Investor Week 2019 which is being ran by the International Organization of the Securities Commissions (IOSCO) and the World Federation of Exchanges from September 30 to October 4.

In addition to being held in Ho Chi Minh City, the "Ring the Bell for Financial Literacy” event is taking place in 33 stock exchanges worldwide with the aim of raising awareness about financial literacy among the public and investors, connecting market operators, intermediaries, and training organizations.

According to the IOSCO, improving financial literacy is regarded as a vital step towards the continuous development of financial market in an age of increasingly complex investment products and diversified financial services. 

Registered trading accounts in Vietnam’s stock market have already passed the 2 million mark with the majority of accounts belonging to individual investors. 

Despite this growth, the participation rate in the stock market remains low in comparison to the country’s population. Many investors who engage in the market have limited knowledge when it comes to finance. Therefore, it is extremely important to improve the overall knowledge and financial skills of investors and the public in order to increase the number of participants in the securities market.

The event also hosted a discussion on the importance of providing investors with financial knowledge. In attendance were experienced experts in the financial training field from Smart Train, ICAEW, the Banking University of Ho Chi Minh City, and leading representatives of securities companies.