The Vietnam Stock Exchange will be set up with the Hanoi Stock Exchange and the Ho Chi Minh Stock Exchange being its subsidiaries (Photo: VNA)

Hanoi (VNA) – The Vietnam Stock Exchange (VSE) will be set up with a view to unifying the stock market and ensuring efficient, fair, open and transparent activities on the market.

Prime Minister Nguyen Xuan Phuc recently signed off a plan on the establishment of the VSE.

Accordingly, the VSE will be headquartered in Hanoi and operate as a one-member limited liability company wholly owned by the State. The Ministry of Finance will be the representative of the State capital ownership.

The Hanoi Stock Exchange (HNX) and the Ho Chi Minh Stock Exchange (HOSE) will become its subsidiaries with 100 percent of capital invested by the VSE, but they will operate independently from the parent company. 

The VSE’s charter capital, 3 trillion VND (128.64 million USD), will come from the charter capital of these two bourses.

Under the newly approved plan, the VSE is tasked with issuing regulations on stock listing and transactions, supervising the HNX and the HOSE, and monitoring the stock market.

It will also act as an intermediary when disputes relating to stock transactions occur and cooperate with foreign partners in securities.-VNA