Development Partners Want To Promote The Development Of Vietnam’s Capital Market Development

In the context of Vietnam actively mobilizing capital to maintain economic activities and continue to grow strongly after Covid-19, the International Finance Organization (IFC), World Bank and Australian Government has cooperated to promote the development of Vietnam's stock market. Discussed the draft of the Securities Market Development Strategy in the period 2021-2030 developed by the SSC and a multi-stage roadmap proposed by WBG to develop the stock market with a focus on improving the ability to continue Close of investors. The management agencies from the Ministry of Finance, the State Bank of Vietnam, the Ministry of Planning and Investment, the National Financial Supervisory Committee, development partners include Australia, Switzerland , and the market participants have also discussed the progress of the regulations and proposal of cross-working mechanisms between ministries, branches and government agencies to create Conditions for market development. Dong Vu Chi Dung, Director of the International Cooperation Department, the State Securities Commission said: The goal of the strategy is to build capital market to become a medium and long-term capital lead channel weight for the economy, promote the potential of the market, effectively serve economic growth, mobilize reasonable capital, balance the economy and businesses. The plan is built in accordance with the best international practices and standards, ensuring the protection of investors and market trust

. Presentation proposed by WBG focused on solving key barriers to Kha Foreign investors' accessibility through the application of new mechanisms to relax requires pre-transactions to securities transactions, solutions for foreign ownership limits for securities, And improving the disclosure of information in English. February Lam Bao Quang, the right of IFC national director in Vietnam, Cambodia and Laos said: a capital market that develops deep, wide, efficient and well managed Will help access long-term financial resources in local currencies that are essential for the development of a private private sector - the main motivation of employment and sustainable growth. "Promoting innovation is urgent And more important than ever to develop a platform of diverse investors for domestic capital markets when public resources become anhydrous Rare and Vietnam will need a large amount of long-term capital in local currency to recover and continue to invest in sustainable growth after Covid-19 ", Mr
Lam Bao Quang emphasizes.IFC and the World Bank, Cooperating with the Australian Government, is implementing a multi-year consultancy program to support Vietnam's stock market development through improving the legal framework, market infrastructure, the capacity of management agencies and develop new products. This cooperation is part of the General Capital Market Development Program (J-CAP) - a WBG initiative on developing equity market and debt capital in some countries, including Vietnam. Mark Tattersall, Deputy Ambassador Australia in Vietnam said: capital markets, well managed, meeting international standards are important to diversify financial options and will play a role. Key for the next stage of Vietnam. Development capital markets will provide important domestic financing as well as more efficient support than foreign investors with higher quality. "After the statement of Prime Minister Autralia Morrison in January 2021 2.2 million AUD support for Vietnam's capital market development, the Australian government is very happy to inform us to cooperate with the World Bank and the State Securities Commission through the J- program Cap in order to innovate and develop Vietnam's stock market ", Deputy Affairs of Australia said. The World Bank Group includes organizations such as: International Bank for Reconstruction and Development (IBRD) and Development Association International (IDA); International Finance Organization (IFC); Multilateral Investment Guarantee (MIGA); International Center for Resolution of Investment Disputes (ICSID) .
. These organizations work together in more than 100 countries, providing finance, counseling and other solutions to support resolved countries The most urgent challenges about development.

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