At a gong-beating ceremony to start the first trading session of the HOSE (Photo: VNA) The official said that HCM City is strivingto complete a project turning itself into a regional and internationalfinancial centre to boost the local stock market.
Pointing out unpredictable impacts of the COVID-19pandemic on the market, Deputy Minister of Finance Nguyen Duc Chi said the HOSEneeds to continue its coordination with the State Securities Commission (SSC),the Vietnam Securities Depository (VSD) and other stock exchanges to put inplace the new information technology system for the entire stock market, knownas KRX, as scheduled.
He also highlighted the restructuring of the stockmarket, saying the HOSE should actively coordinate with the Vietnam StockExchange (VNX) in completing operational regulations and procedures, buildinga five-year development strategy, and developing new products, especially thosethat would facilitate foreign investors’ access to the Vietnamese stock market.
Last year,Vietnam's stock market experienced strong growth in terms of liquidity, the numberof investors, indexes and market capitalisation, leading ASEAN in trading valueand capitalisation.
According to the World Federation of Exchanges(WFE), the Vietnamese market’s stock turnover ratio, for the first time, hasreached nearly 173 percent last year, surpassing the 99.8 percent ratio posted byThailand. /.
VNA
