Vietnam pushes for transparent, effective capital market

(VOVWORLD)-The Ministry of Finance on Wednesday inaugurated a separate corporate bond trading system on the Hanoi Stock Exchange (HNX).

The system is expected to increase market liquidity and help management agencies and investors gather more market information and develop better management and development policies and make better investment decisions.

Pham Hong Son, Vice Chairman of the State Securities Commission, said, “We want a more transparent and more effective separate corporate bond trading system. The launch of this system is the first step toward realizing that goal.”

Vietnam pushes for transparent, effective capital market - ảnh 1Finance Minister Ho Duc Phoc speaks at the launching ceremony of the separate corporate bond trading system (Photo: cand.com.vn)

At the launch ceremony, Minister of Finance Ho Duc Phoc said the State respects the decisions of those participating in the the corporate bond market. The State supports this market only in terms of policies and mechanisms, Phoc said.

“It is necessary to improve the services of intermediary organizations and securities companies. We need to strengthen oversight and strictly punish any violations relating to bond issuance, investment, or service delivery to ensure the transparency of the bond market.”

Mr. Phoc said that in order to develop the corporate bond market in a healthy, stable, effective, transparent, and sustainable manner, it is essential to make the market a mid- and long-term capital mobilization channel for enterprises. The market needs to develop in line with international practices and standards so it can be connected to regional and global markets, he added. 

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