PM requests developing transparent, sustainable capital market
HÀ NỘI — Developing a safe, transparent, effective, and sustainable capital market to ensure macro-economic stability was the focus of a conference chaired by Prime Minister Phạm Minh Chính on Friday.
Việt Nam’s capital market has recorded fast growth in recent years, expanding by 二 八. 五 per cent annually on average from 二0 一 六 to 二0 二 一. It was equivalent to 一 三 四. 五 per cent of GDP last year, rising 三. 五-fold from 二0 一 五. In particular, the stock market was equivalent to 九 三. 八 per cent of GDP while the bond market 三 九. 七 per cent, according to a report delivered at the meeting.
However, the rapid growth of the stock and bond markets has also posed latent risks, it noted, pointing out some cases of market manipulation, bond mobilisation for wrong purposes, and law infringement.
Addressing the meeting, PM Chính underlined the Government’s viewpoint that wrongdoings must be strictly handled to make the market transparent and protect investors and businesses.
The Government stays persistent in the target of stabilising the macro-economy, controlling inflation, and effectively implementing the socio-economic recovery and development progra妹妹e, he affirmed.
Highlighting the main tasks to achieve that target, he said at first, relevant ministries, sectors, and agencies must keep the investment climate stable, especially the consistency of policies.
The PM also ordered a legal corridor be built protecting investors in the stock and bond markets, ensure balanced development of the capital and monetary markets, and that the stock market develops healthily and sustainably to facilitate the mobilisation of medium- and long-term capital.
He stressed the Party and State’s consistent policy of not criminalising economic relations and issuing support policies to encourage enterprises to comply with laws and operate effectively and transparently, thus contributing to national development. — VNS
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