MSCI representative affirmed that the solutions of Vietnamese management agencies are on the right track, creating more favorable conditions for foreign investors and will share this new information with members and customers so that they can experience and have assessments to serve the classification of Vietnam's stock market.
Series of activities within the framework of the business trip in Singapore
On the morning of August 8, 2024, Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong and the SSC delegation had a working session with market rating organization Morgan Stanley Capital International (MSCI) on solutions to upgrade the Vietnamese stock market from a frontier stock market to an emerging stock market.
On the MSCI side, there were Mr. Miguel - Head of Market Index Research; Mr. Neeraja Kumar - Director of Research; Mr. Shanhbogue Ramesh - Head of Government and Regulatory Relations.
At the meeting, Chairwoman of the State Securities Commission Vu Thi Chan Phuong updated the development of Vietnam's stock market and the latest information on the process of upgrading the stock market.
Nearly a year after the meeting with MSCI in Hong Kong, the Ministry of Finance and the State Securities Commission have implemented many more solutions to facilitate investors in participating in the Vietnamese stock market.
In particular, the State Securities Commission has drafted a Circular amending and supplementing 04 circulars on transactions, registration, depository and clearing, operations of securities companies (SCs) and information disclosure and up to now,
The draft is still in the final stages of completion to be submitted to the Ministry of Finance for consideration and promulgation as soon as possible. The relevant payment process is also being developed simultaneously to ensure that the new regulation will be effectively implemented as soon as it is promulgated.
During the policy development process, the State Securities Commission held many working sessions with market members and consulted with many experts from international organizations to come up with the most feasible and optimal solution.
Also at the meeting, in response to the MSCI representative's concern about the orientation of attracting foreign securities companies to operate in Vietnam, the Chairman of the State Securities Commission said that Vietnam always welcomes and Vietnamese law does not restrict the operations of foreign securities companies in Vietnam.
There are currently 8 foreign securities companies in Vietnam from many countries and large domestic securities companies also have the participation of many strategic shareholders who are foreign investors.
On MSCI's side, Mr. Miguel, Head of Market Index Research Department, highly appreciated the efforts and solutions of the State Securities Commission to promote the process of upgrading the stock market, as well as the development achievements of the Vietnamese stock market in recent times.
MSCI representative affirmed that the solutions of Vietnamese management agencies are on the right track, creating more favorable conditions for foreign investors to participate in the market and will share this new information with members and customers so that they can grasp, experience and have assessments to serve the classification of Vietnam's stock market in the coming time.
At the end of the meeting, the two sides said they would continue to coordinate, exchange and update information during the process of reviewing and evaluating the upgrading of Vietnam's stock market.
The Chairman of the State Securities Commission has sent an invitation to MSCI representatives and customers to visit and work in Vietnam. The State Securities Commission is ready to discuss directly and receive comments and contributions to develop the Vietnamese stock market.
Source: CafeF
