The dispatch emphasizes that in the upcoming period, the global financial and monetary markets will face intricate and unpredictable fluctuations, impacting Vietnam's capital, monetary, and stock markets.
To ensure the safer, more transparent, efficient, and sustainable development of the Vietnamese stock market, Prime Minister Chinh instructs the Ministry of Finance to closely monitor market dynamics, proactively and promptly implement measures to stabilize and foster the growth of the stock market. The Ministry is required to closely coordinate in managing fiscal policies, monetary policies, and other macroeconomic policies, contributing to bolstering economic growth, maintaining macroeconomic stability, controlling inflation, ensuring substantial economic balances, and establishing conditions to support the secure, transparent, efficient, and sustainable development of the stock market, an effective channel for attracting medium and long-term capital for the economy.
The Ministry of Finance should actively monitor and closely supervise the developments of both domestic and international stock markets, as well as the flows of capital entering and exiting the market, to implement timely and suitable management solutions, ensuring effective oversight of the stock market in accordance with the current situation. The objective is to ensure the safety, transparency, and stability of the stock market, preventing risks and ensuring its security.
The Ministry should take the initiative to regularly review mechanisms and policies and enhance the legal framework related to securities and the stock market to revise, supplement, or recommend authorized agencies to amend and supplement relevant legal documents, ensuring consistency, uniformity, effectiveness, and compliance with international practices and commitments, meeting the developmental requirements of the stock market both in the short and long term.
The Prime Minister has tasked the Ministry of Finance with leading the rigorous implementation of essential tasks and solutions to elevate Vietnam's stock market from a frontier market to an emerging market at the earliest possible time. This is aimed at attracting foreign investment capital and institutional investment funds. Additionally, the Ministry is instructed to report promptly and proactively to competent authorities on matters that exceed its authority.
Simultaneously, the Ministry should enhance inspection, examination, and monitoring efforts while strictly enforcing penalties for violations in the stock market in accordance with legal provisions, as well as issue timely early warnings and devise plans to address potential risks, ensuring the stock market operates securely, healthily, and smoothly. It should also expedite the fulfillment of information technology projects and major initiatives in the securities sector to guarantee technical infrastructure and legal framework for the stable and enduring development of the stock market.
The Ministry of Finance must direct the State Securities Commission and the Vietnam Securities Depository and Clearing Corporation to closely coordinate with the Police Department for Administrative Management of Social Order under the Ministry of Public Security to promptly complete the review and cleansing of investor data, including a comprehensive audit of investor data at securities firms. This collaborative effort is intended to enhance the safety and transparency of the market. Additionally, there is a focus on reinforcing tight cooperation with relevant authorities to address rumors, fabrications, and misinformation that could adversely affect the safety of the stock market.
The Prime Minister has tasked the State Bank of Vietnam to closely collaborate with the Ministry of Finance and the State Securities Commission in steering monetary and fiscal policies and carrying out measures for the development of the stock market, ensuring safety, connectivity, transparency, and synchronization between the monetary market, capital market, and stock market.
The Ministry of Information and Communications will take strict measures to address cases involving the dissemination of inaccurate information or articles that violate regulations, causing negative impacts on investor sentiment and market stability.
The Ministry of Public Security will closely collaborate with the Ministry of Finance and the State Securities Commission to continue implementing security measures, ensuring the security of the stock market. Specific actions will be taken to prevent, deter, and rigorously address legal violations, especially cyber-attacks, intrusions, fraud, and the misappropriation of funds from investors engaged in online securities transactions.
