Viet Nam Stock Exchange officially debuts

[HowieC]

Viet Nam Stock Exchange officially debuts

 

December, 11/2021 - 19:16

 

HÀ NỘI — The Việt Nam Stock Exchange (VNX) was officially put into operation on Saturday morning, marking a new development for the domestic stock market. 

The opening ceremony was held directly in Hà Nội and HCM City and held online at some places by the Ministry of Finance.  

At the event, Deputy Prime Minister Lê Minh Khái handed the operations over to the Board of Directors of VNX.

According to the establishment decision, the exchange will operate under the parent-subsidiary model as per the rearrangement of the Hà Nội Stock Exchange (HNX) and the Hồ Chí Minh Stock Exchange (HoSE).

VNX has a charter capital of VNĐ3 trillion, with the headquarters located in Hà Nội, and is a limited company with 100 per cent capital owned by the State.

The exchange is also the parent company holding 100 per cent of capital in HNX and HoSE.

After VNX comes into operation, HNX will have the main task of organising and operating the derivatives, bond and other securities markets. 

Meanwhile HoSE is responsible for organising and operating the stock market and other securities according to regulations.

The Deputy Prime Minister said that developing the stock market to create a medium- and long-term capital mobilisation channel for economic development was a consistent policy of the Party and State.

Khái also said attention needed to be paid to the modernisation of technology infrastructure to master and strengthen the application of science and technology.

Digital transformation to promote market development in combination with risk management, ensuring the safety of the stock market and meeting the growth demand of the country was also needed, he added.

Nguyễn Thành Long, chairman of the VNX’s Board of Directors, said that in the past, the size of the Vietnamese stock market was fragmented, indices were not consistent, and there was a lack of a general index that fully represented the whole market. 

This has affected the position of the country stock market and the upgrade process. Therefore, the establishment and operation of VNX was necessary.

The consolidation and merger of exchanges is a reasonable trend and follows the international trend, Long added.

The restructuring and reorganisation of the exchanges will unify the stock market to ensure the market's efficient, fair, open and transparent operation, heading to a unified Vietnamese stock market. 

Since September, the exchange has completed seven regulations and one plan to restructure the corporate bond market, which is expected to be issued this December.

According to the plan, the system of regulations will be officially applied and implemented in 2022.

In the medium term, Long said that VNX had directed HoSE and HNX to develop a 3-year plan, while VNX will develop a medium- and longer-term development strategy. — VNS

 

Việt Nam Stock Exchange officially debuts - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports - VietNam News

[southbeach]

Buy VND right now.  Do not doubt.

[screwball]

On 9/18/2023 at 12:08 PM, southbeach said:

Buy VND right now.  Do not doubt.

sound investment....

[md11fr8dawg]

6 hours ago, screwball said:

sound investment....

Expound on that comment for me screwball. Better than the dinar??

[southbeach]

In a way - yes.  But you need both - now.

[screwball]

On 9/19/2023 at 9:13 PM, md11fr8dawg said:

Expound on that comment for me screwball. Better than the dinar??

they have oil, gas and GDP of around 450 billion, twice that of Iraq and currency is worth atleast .20-50 cents

[screwball]

I know that I will be increasing my holdings.....

[screwball]

less variables than Iraq at this stage but will NOT be worth as much in the end

[md11fr8dawg]

If it's worth $0.50, and RVs at that rate, then it will be paartay time at the Dawg's house!!!

[Gypsygirl11]

God I have to dig out the shoe box I think I have some of this money from Vietnam along with the dinar LOL

 Yeah it seems like things are about to pop everywhere digital currency is changing the environment