Vietnamese Prime Minister Pham Minh Chinh requested urgent implementation of necessary measures to upgrade the Vietnamese stock market.
Vietnamese Prime Minister Pham Minh Chinh has just signed Directive No. 12/CT-TTg dated April 21/2024 on key tasks and solutions for socio-economic development.
The Prime Minister requested ministries, agencies, and localities to closely monitor international and regional developments, policy adjustments by major economies and partners, especially monetary, fiscal, trade, and investment policies.
Grasp the market situation, balance supply and demand, and prices of goods to have appropriate and effective solutions to stabilize the market and prices, especially for gasoline, oil, essential goods, housing, and food.
The Prime Minister requested that the Ministry of Finance strengthen financial discipline, resolutely implement digital transformation, regulations on electronic invoices, and promote the application of digital transformation in budget revenue and expenditure, improving the effectiveness of government budget revenue and expenditure management.
Ensure timely collection of sufficient revenues, expand the tax base, and prevent tax losses, especially for catering, restaurants, e-commerce, cross-border platforms, etc. Resolutely cut non-urgent regular expenses and expenditures.
Promote and control the healthy, safe, and effective development of financial markets, stocks, and corporate bonds. Timely detection and strict handling of violations.
Urgently implement necessary measures to upgrade the Vietnamese stock market from a frontier market to an emerging market in 2025.
The State Bank of Vietnam shall manage timeliness, flexibility, harmony, and reasonableness between interest rates and exchange rates in accordance with the market situation, macroeconomic developments, and monetary policy objectives.
The Prime Minister also requested the State Bank of Vietnam to strictly implement regulations on gold trading management.
Strictly implement the provisions of Decree No. 24/2012/NĐ-CP on gold trading management. Proactively implement timely and effective solutions and tools to intervene in the domestic gold market to ensure a healthy, stable, transparent, and efficient gold market.
Strictly manage and control market activities and transactions, promptly and effectively address the high gap between domestic and international gold bar prices.
Inspect and strictly handle negative cases, smuggling, and gold price inflation. Simultaneously, regulate timely and effectively to meet the foreign currency demands of businesses and people.
