|Chairman of the Ho Chi Ming City People’s Committee Phan Van Mai attends the ceremony of the beginning of the Lunar New Year of the Tiger 2022|
The ceremony is an annual activity of HOSE, and the occasion for regulators, officials, and market participants in the securities industry to meet up and together express their determination of developing the securities market to contribute to the economic development of the country.
Attending the ceremony were Mr. Phan Van Mai, Deputy Secretary of the City Party Committee, Chairman of the People’s Committee; Mr. Nguyen Duc Chi, Deputy Minister of Finance; Mr. Tran Van Dung, Chairman of the State Securities Commission, Mr. Nguyen Thanh Long, Chairman at the Board of Members of the Vietnam Stock Exchange, representatives of the Securities Depository Center; leaders of some leading listed companies and member securities companies.
Despite the Covid-19 pandemic, especially the 4th wave of outbreaks in Ho Chi Minh City disrupting production and business activities, Vietnam’s economy has gradually recovered and returned to the new normal.
Vietnam’s stock market saw a strong growth in terms of liquidity, number of investors, indices and market capitalization, leading ASEAN in terms of growth in trading value and market capitalization. This is the first time the stock turnover ratio of the Vietnamese market in 2021 reached nearly 173%, surpassing the 99.8% level of the Thai market.
In 2021, the stock market liquidity on HoSE recorded growth with the average trading value and volume of over VND21,593 billion and 737.29 million shares respectively, up 247.27% in value and 120.43% in volume from 2020. In particular, on December 23, 2021, the market had a record trading session with a trading value and volume of over VND45,371 billion and more than 1.32 billion shares. The VN-Index also set a new peak for the Vietnamese stock market with 1,500.81 points on November 15, 2021 – the highest in 21 years of operation.
As of December 31, 2021, the HoSE had 404 stock codes, three closed-end fund certificates, eight ETF certificates, 113 covered warrant codes and five listing and trading bond codes.
The stock market capitalization on HoSE reached more than VND5.8 quadrillion, equivalent to about 92.77% of GDP in 2020 and rose by 43.06% compared to the end of 2020. Foreign investment in the market in the past year remained at a stable level with the total trading value of shares reaching more than VND798 trillion, accounting for 7.39% of the total trading value of the whole market.
Speaking at the ceremony, Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai appreciated the achievements in 2021 and affirmed the core position of the HoSE. He wished that the HoSE would continue to strive to become a world-class Stock Exchange, contributing more to the economic recovery of the city.
At the same time, the city will also focus on completing the project to build Ho Chi Minh City into a regional and international financial center to promote the development of the city’s stock market.
|Deputy Minister of Finance Nguyen Duc Chi speaks at the ceremony|
Deputy Minister of Finance Mr. Nguyen Duc Chi thanked Ho Chi Minh City’s leaders for their attention to the Vietnamese stock market and HoSE. Mr. Chi said the important tasks of the securities industry in 2022 include ensuring that the KRX information technology system is put into operation according to the schedule, ensuring that the stock market is operated continuously and effectively, safely and transparently; initially implementing the restructuring of the stock market according to Circular 57/2021 of the Ministry of Finance; proactively performing the classification of listed companies; focusing on stabilizing the market, strengthening supervision, improving the quality of listed companies on governance and information disclosure, ensuring security and transparency.
In addition, HoSE should actively cooperate with the Vietnam Stock Exchange to complete the regulations and procedures, develop a five-year development strategy, as well as research and develop new products in the market, especially products that enable foreign investors to easily access Vietnam’s stock market.
Following the guidance of the Ministry of Finance, HoSE affirms its determination to mobilize all resources to implement important tasks in 2022, with the priority of bringing the Korean contractor’s information technology project into operation.
Furthermore, HoSE will work with the State Securities Commission and the Vietnam Stock Exchange to strengthen supervision of irregular transactions, monitor information disclosure and supervise securities companies, strengthen discipline; and continue to improve human resources, renew the administration and management in accordance with its new organizational model.