Continuing the series of activities within the framework of the working trip to Singapore, on August 8, Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong and the SSC delegation had a working session with the market classification organization MSCI on solutions to upgrade the Vietnamese stock market from a frontier stock market to an emerging stock market.

At the meeting, Chairwoman of the State Securities Commission Vu Thi Chan Phuong updated the development of Vietnam's stock market and the latest information on the process of upgrading the stock market. After nearly a year since the meeting with MSCI in Hong Kong; Ministry of Finance , the State Securities Commission has implemented many more solutions to create favorable conditions for investors to participate in the Vietnam stock market.

According to MSCI, Vietnam is on the right track in the stock market sector.

In response to the MSCI representative’s concern about the orientation of attracting foreign securities companies (CS) to operate in Vietnam, the Chairman of the State Securities Commission said that Vietnam always welcomes and Vietnamese law does not restrict the operations of foreign securities companies in Vietnam. Currently, there are 8 foreign securities companies in Vietnam from many countries such as Taiwan, Japan, Korea, and China.

Large domestic securities companies also have the participation of many strategic shareholders who are foreign investors, such as the presence of Hana Bank - Korea at BSI Securities Company, Daiwa Securities Company - Japan at SSI...

Regarding the desire to share information on amending regulations to simplify procedures for opening indirect investment capital accounts in Vietnam, the State Bank is studying this content to amend and supplement Circular No. 05/2014/TT-NHNN on guiding the opening and use of indirect investment capital accounts to carry out foreign indirect investment activities in Vietnam.

Mr. Miguel - Head of Market Index Research Department, MSCI highly appreciated the efforts and solutions of the State Securities Commission to promote the process of upgrading the stock market, as well as the development achievements of the Vietnamese stock market in recent times.

MSCI representative affirmed that the solutions of Vietnamese management agencies are on the right track, creating more favorable conditions for foreign investors to participate in the market. MSCI will share this new information with members and customers so that they can grasp, experience and have assessments to serve the classification of Vietnam's stock market in the coming time.

At the end of the meeting, the two sides said they would continue to coordinate, exchange and update information during the process of reviewing and evaluating the upgrading of Vietnam's stock market. The Chairman of the State Securities Commission invited MSCI representatives and customers to visit and work in Vietnam. The State Securities Commission is ready to directly discuss and receive comments and contributions to develop Vietnam's stock market.

Ha Anh