For a stable and sustainable stock market
VNGOVNet – Standing Deputy PM Nguyễn Sinh Hùng visited and worked with the State Securities Commission (SSC) on February 23. He requested the SCC, in 2007, to further develop stock market in a sustainable way.
|
|
|
Photo: VNGOVNet |
In 2006, the SSC licensed the stock business for 41 securities companies, 12 fund managing companies, and three stock investment funds. Last year, the stock market developed quite stably, with a rather high growth rate. The system of securities depositing members, payment designating banks and supervision banks effectively served stock payment, basically meeting the transactions of the market.
According to Deputy PM Nguyễn Sinh Hùng, with a development rate 20 times higher than that in late 2005, Vietnam’s securities market is proving to be an effective long-term channel for capital circulation, bringing about the success for the stock market in general and investors in particular while providing impetus for the stock market development in 2007 and the following years.
The Deputy PM asserted that, to strongly develop the stock market, the SSC should outline concrete policies to maintain development rate; design a flexible regime of foreign exchange rate operating in line with market signals; further improve investment enviornment, especially by completeing a legal environment with clear and consistent instituitions (supervision, analytic system) and observing the fixed integration roadmap to ensure long-term investment in Vietnam; and protect the market quality, enterprises’ sustainable growth and investors’ capital.
By Xuân Hồng
