On February 19th, Ho Chi Minh Stock Exchange (HoSE) held the “Opening Gong Ceremony for the 2024 Chinese New Year Stock Trading”.
Speaking at the opening ceremony, Deputy Minister of Finance Nguyen Duc Chi stated that in 2024, the Ministry of Finance will continue to direct relevant agencies to actively implement solutions to ensure the sustainable development and discipline of the stock market.
Leaders of the Ministry of Finance, State Securities Commission, HoSE, and market participants at the 2024 Chinese New Year Gong Ceremony
To achieve this goal, the regulatory authorities will continue to review relevant legal regulations and frameworks. They will also maintain stable and secure operation of the trading and settlement systems. “There are no restricted areas in the stock market. Any violations will be promptly detected and strictly handled to protect the rights and interests of market participants,” Deputy Minister of Finance emphasized.
In addition, the regulatory authorities, stock exchange, market participants, investors, and listed companies will work together to address obstacles and improve the market. Information about the securities market will be communicated to the public and investors in a transparent and best possible manner, so that everyone can understand that the stock market is not only beneficial for participants, but also for everyone as it serves as an economic development driver.
Ms. Nguyen Thi Viet Ha, Chairwoman of HoSE, shared that the information technology project with the South Korean contractor (KRX system) has completed the final user testing phase, and they are considering deploying the system this year. In the current year, HoSE aims to improve the quality of goods in the market, enhance the application of standardized data monitoring information, and create conditions to encourage listed companies to enhance their corporate governance and achieve sustainable development.
Meanwhile, Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, stated that the State Securities Commission will always closely follow the guidance of the Government and Ministry of Finance in order to implement specific tasks, ensuring the stable operation of the market and effective supervision and management of the market. They will review legal documents, restructure securities companies and fund management companies, and collaborate with relevant ministries and sectors to remove obstacles and elevate the market to a new level. The KRX system will be operational in 2024, but the actual timing depends on the investor, which is HoSE and the market participants, ensuring smooth operation.
