Proposal to merge Hanoi and Ho Chi Minh City stock exchanges on hold
For the time being, the government would redefine functions and responsibilities of each stock exchange, ensure no overlapping in operations.

The proposal to merge Hanoi and Ho Chi Minh City stock exchanges has been put on hold for the immediate future, according to a government report.
Illustrative photo. |
For the time being, the government would redefine functions and responsibilities of each stock exchange, ensure no overlapping in operations.
As a result, the Hanoi Stock Exchange (HNX) is responsible for government bond transactions and management of the derivatives market, while all shares listed in the market would be moved to the Ho Chi Minh City Stock Exchange (HoSE).
The HoSE now is home to the largest companies while the Hanoi bourse houses smaller ones.
The information was revealed at a National Assembly meeting on November 26 where the National Assembly approved the revised Securities Law with an endorsement of 445 out of 450 deputies present.
With regard to a potential merger of two stock exchanges, the Standing Committee of the National Assembly said the move would be in line with the government’s agenda under the strategic development plan of Vietnam’s stock market in the 2011 – 2020.
The establishment of a single stock exchange, therefore, is a necessary step to streamline the management system and use of harmonized technologies, criteria for listing, reporting, and disclosing information, among others, instead of two separate transaction systems and indexes at present, stated the committee.
According to the revised Securities Law, clauses No.43 and 46 now authorize the prime minister to decide the establishment, operation and related functions of the single stock exchange and its subsidiaries.
The Vietnam Stock Exchange would continue to act as the parent company with the two bourses being its subsidiaries. When the timing is right, the PM would decide on the establishment of a single stock exchange without having to revise the law.
Notably, the State Securities Commission (SSC), the country’s stock market watchdog, continues to be under management of the Ministry of Finance, instead of under direct management of the government as in a previous proposal.
The revised Securities Law also stipulates stricter punishments compared to previous version regarding violations of the security and safe operation of the stock market, aiming to increase the transparency of the stock market, greater efficiency in governance and ensuring legal rights of investors.
Other News
- National Assembly greenlights extension of resolution on bad debt management
- Vietnam's stock market on foreign funds’ radar amid possible upgrade to EM status: HSBC
- Gov’t extends excise tax payment deadline for domestic cars
- The Vietnam-US comprehensive partnership facilitates investment activities: PM
- Vietnam's securities accounts surpass 5-million mark
- Finance ministry proposes extending tax payments worth US$870 million for domestic cars
- Foreign capital returns to Vietnam's stock market in 2022: SSI
- Vietnam’s easing monetary policy unlikely to reverse amid Fed’s rate hike
- Shinhan Financial to acquire 10% stake in Vietnamese e-commerce Tiki
- Banks cut lending rates to support businesses
Related News
Trending
-
National Assembly greenlights extension of resolution on bad debt management
-
Vietnam highlights multilateralism at Indo-Pacific forum
-
Vietnam tightens entry surveillance over fears of Monkeypox
-
Vietnam seeks opportunities for sustainable education partnerships
-
“Vietnamese runners are my second family”: Timor Lester athlete at SEA Games 31
-
Hanoi wants to build second int’l airport in Thuong Tin
-
Hanoi handicrafts attract international SEA Games 31 guests
-
Exhibitions mark President Ho Chi Minh’s 132nd birthday anniversary
-
The Vietnam-US comprehensive partnership facilitates investment activities: PM