Amid the COVID-19 pandemic, the economy of Vietnam experienced numerous difficulties and challenges during the first half of 2021, but the stock market still posted strong growth, at a pace that is the second fastest in the world.
Strong individual purchasing power has been the key to the strong rebound of the Vietnamese stock market this year after it was hit twice by the COVID-19 outbreaks.
A draft decree being developed by the State Securities Commission to implement the amended Law on Securities may cause local banks to lose out on potential foreign investment.
Intermediary financial institutions instead of bond issuers should be empowered to recognise professional investors when they come to purchase corporate bonds in the secondary market, regulatory experts have urged.
Foreign investors bought more Vietnamese stocks than they sold in January, snapping a month-long streak as net buyers after offloading shares in the last five months of 2019.
The State should hold 100 percent capital at the Vietnam stock exchange, expected to be merged from the two current bourses under the revised draft Law on Securities, an official said.
Vietnam’s stock market has been evaluated as a bright spot in the region in terms of growth speed and foreign capital absorption for years, according to Chairman of the State Securities Commission (SSC) Tran Van Dung.
The Ministry of Finance is drafting a document for the next generation Law on Securities in an effort to complete legislation for the securities market.
The Ministry of Planning and Investment was drafting a circular on a venture capital fund to create a legal framework for promoting start-ups and make Vietnam a start-up nation.
The securities market in HCM City has seen positive changes since
the issuance of Government Decree 60/2015 which would permit a higher
rate of foreign ownership in domestic public companies.
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