Prime Minister: Proposes FTSE Russell to help bring Vietnam's stock market into the emerging group

At the meeting, Mr. Gerald Toledano and the leaders of FTSE Russell gave assessments of the Vietnamese economy in general and the Vietnamese stock market in particular; shared recommendations to further develop the Vietnamese stock market according to international practices and standards.

Appreciating Vietnam's efforts, determination and reform and innovation measures, contributing to the development of Vietnam's economy in the right direction, Mr. Gerald Toledano said that the development of Vietnam's stock market has achieved important results, especially impressive results in liquidity, being the market with the largest liquidity in ASEAN, surpassing both Thailand and Singapore.

Welcoming the FTSE Russell delegation to Vietnam, Prime Minister Pham Minh Chinh highly appreciated the company's activities in recent years, directly monitoring closely, giving objective comments and assessments, closely reflecting the Vietnamese economy and stock market; actively accompanying management agencies and market members to provide many useful recommendations and solutions.

The Prime Minister said that Vietnam has 80 years of independence but has gone through 30 years of war and 30 years of embargo. It is still a developing country with a transitional economy, modest in scale and large in openness. A small external impact can have a large impact on the internal environment.

Informing about the socio-economic situation of Vietnam in recent times with outstanding results, the Prime Minister also shared Vietnam's development orientations in the coming time; said that to realize the development goals, the need to mobilize capital for the economy is very large and developing a deep and effective capital market is an urgent task to effectively mobilize resources from the domestic and foreign private sectors.

Noting that the Vietnamese stock market is still young, the Prime Minister emphasized that in recent times, Vietnam has shown great determination in reforming the stock market; improving the investment environment to be increasingly open, transparent, and favorable; committing to protecting the legitimate rights and interests of investors in the spirit of "harmonized benefits and shared risks". The Government has submitted to the National Assembly for approval the amended Securities Law; and at the same time, passed a Resolution on developing an international financial center in Vietnam.

The Prime Minister asked FTSE Russell to continue to accompany the Government and state management agencies to recommend and advise on useful solutions to bring the Vietnamese stock market into the emerging group; promote the Vietnamese stock market to develop transparently, effectively, approaching international standards with the spirit of "keeping up, progressing together, surpassing", developing rapidly, sustainably, healthily, stably, promoting the role of an effective and important capital mobilization channel.

In particular, FTSE Russell continues to monitor, provide objective, accurate, comprehensive comments and assessments, reflecting the reality of Vietnam's economy and capital market; share experiences, provide advice, support the construction of legal corridors, mechanisms, policies, develop modern infrastructure, smart governance, train professional and elite human resources; support Vietnam in the process of building and participating substantially and actively in the process of operating an international financial center; support Vietnam in attracting resources, capital flows, calling for and connecting investors to Vietnam.

In agreement with Prime Minister Pham Minh Chinh, Mr. Gerald Toledano affirmed that FTSE Russell is committed to continuing to accompany and support the process of upgrading Vietnam's stock market from frontier to emerging, as well as Vietnam's long-term development process until 2045, achieving economic goals as well as improving people's lives. In particular, FTSE Russell will actively share information about Vietnam's reforms and progress with international investors.

Source: https://hanoimoi.vn/thu-tuong-de-nghi-ftse-russell-giup-dua-thi-truong-chung-khoan-viet-nam-vao-nhom-moi-noi-709423.html