The coordination mechanism is issued to implement the provisions of Article 111a of Decree 155/2020/NĐ-CP (amended and supplemented by Decree 245/2025/NĐ-CP). Through this mechanism, specialized units of the State Securities Commission (SSC) and the Ho Chi Minh City Stock Exchange (HOSE) will jointly review dossiers based on financial reports, capital contribution reports, company charters, and related documents. This streamlined process significantly reduces the time required for post-IPO stock listing.
Throughout the dossier review process, SSC’s specialized units and HOSE collaborate via written communication, professional meetings, and information sharing regarding requests for amendments, clarifications, or dossier rejections. Once SSC issues the Certificate of Registration for the Initial Public Offering (IPO), the prospectus and certificate are forwarded to HOSE to continue the listing registration process.
According to SSC, this coordination mechanism not only minimizes administrative procedures but also enhances transparency and standardizes the IPO-to-listing process. Enterprises conducting IPOs will simultaneously meet listing requirements, maximizing capital mobilization efficiency and boosting investor confidence.
Additionally, this mechanism is expected to play a pivotal role in enhancing the competitiveness of Vietnam’s stock market, supporting sustainable business development, and safeguarding investors’ legitimate rights.
At the Vietnam Wealth Advisors Summit (VWAS) themed “New Era, New Momentum” held on September 25, Mr. Bùi Hoàng Hải, Vice Chairman of SSC, shared insights on this topic.
 Mr. Bùi Hoàng Hải speaks at the Vietnam Wealth Advisors Summit (VWAS) themed “New Era, New Momentum” on September 25.
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According to Mr. Bùi Hoàng Hải, one of the most notable features of Decree 245 is the integration of the IPO and listing processes, significantly reducing the time from investment to liquidity.
“Previously, the separation of these processes resulted in investors’ shares being ‘locked up’ for an extended period while listing dossiers were prepared. Consequently, many funds, particularly foreign ones, could not invest due to their policies against non-listed stocks. Additionally, the prolonged inability to trade shares diminished their appeal to investors.” – shared the SSC leader.
Beyond the stock market, other channels such as bonds, funds, and derivatives have implemented and will continue to introduce solutions to enhance product diversity.
Mr. Bùi Hoàng Hải (SSC): Recent reforms aim beyond market upgrades
– 15:01 29/09/2025
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