On January 7, 2019, the Prime Minister issued Decision No. 32 / QD-TTg approving the project on setting up the Vietnam Stock Exchange (“Vietnam Stock Exchange”). This decision takes effect from the date of issuance.
Accordingly, a number of important contents related to the organization and operation of the Vietnam Stock Exchange have been stipulated in Decision No. 32 / QD-TTg, specifically as follows:
Firstly, about the structure: The Vietnam Stock Exchange operates under the model of one-member state-owned limited liability company, the Ministry of Finance is a state-owned representative agency with its head office located in Hanoi. Hanoi Stock Exchange and Ho Chi Minh Stock Exchange. Ho Chi Minh City are subsidiaries invested by Vietnam Stock Exchange, operating independently, having legal status.
Secondly, about the function:
– Develop strategies, development investment plans, five-year production and business plans and annual production and business plans to submit to competent authorities for approval;
– Issuing professional regulations relating to the organization and operation of the securities trading market, such as securities listing, securities trading, information disclosure, trading members … after being commissioned by the Committee. State Securities (SSC) approved;
– Perform general monitoring and internal monitoring activities;
– The orientation of developing new information technology and achievements system to direct the organization of uniform implementation of management and organization in the field of securities and securities market;
– Support market development in the field of securities in accordance with the law;
– Acting as a mediator at the request of trading members when disputes arise regarding securities trading activities;
– Participate in international cooperation on securities and securities market;
– Implement management of subsidiaries in accordance with the law and the Charter of operation;
– Other duties as prescribed by law and regulations of competent authorities.
In general, the establishment of the Vietnam Stock Exchange aims to unify the securities trading market, ensure that the market operates effectively, fairly, openly and transparently, and at the same time strengthening management and supervision. closely monitor and protect the legitimate rights and interests of subjects participating in the market, contributing to upgrading the Vietnam stock market, raising the competitiveness, step by step approaching international standards and practices.