Official believes in strong rebound of stock market

Hanoi – Vietnam’s stock market will bounce back strongly and develop in both quantity and quality in 2023 to remain an effective capital mobilisation channel for the economy, an official has said.

Deputy Minister of Finance Nguyen Duc Chi made the remark at a gong beating ceremony held at the Hanoi Stock Exchange (HNX) on January 3 to mark the first trading session of 2023.

He said despite many fluctuations, the stock market still ran stably, safely, and smoothly in 2022, the capital raised was high, most of the listed companies operated stably and profitably, and domestic and foreign investors’ engagement in the market remained on the rise.

For 2023, Deputy Minister Chi asked the securities sector to focus on such tasks as overhauling the Law on Securities and relevant legal regulations, improving the market’s quality and the financial capacity and competitiveness of market participants, and developing the IT system for market management and supervision.

He also ordered measures be carried out to tackle difficulties, facilitate the equitisation and listing of State-owned enterprises to increase the quantity and quality of stocks in the market, enhance market management, and stringently deal with any violation, thus guaranteeing discipline, protecting investors’ interests, and ensuring the market’s healthy activities.

Vietnam’s stock market will be subject to unpredictability in both the global and local economies in 2023, prompting investors to seek safe-haven stocks.

Deputy Minister of Finance Nguyen Duc Chi has laid out the key tasks for the securities sector this year.