Banking & Finance

The prospects of the local stock market remain bright and will become a key capital mobilization channel for businesses and the economy, said the finance minister.

Deputy Prime Minister Le Minh Khai called for the South Korean bank to continue expanding investment activities in Vietnam beyond the banking sector.

While there was a turbulent period, it is expected the market to become more transparent and sustainable in the long term.

A healthy and transparent stock market would lay the foundation for sustainable development in the long term.

The Government is committed to taking any necessary means to stabilize the market and support its development towards transparency, safety, and sustainability.

The plan is to ensure the mass adoption of e-invoices in all 63 provinces/cities before July 1, 2022.

The authorities are committed to supporting compliant companies to ensure the sustainable development of the stock market.

The development of the State Treasury of Vietnam should gradually approach the level of the region and the world, in which its operation will base on a modern corporate governance model.

Foreign investors have remained confident in Vietnam's stock market, with a net-bought volume of VND1.7 trillion (US$74 million) in the past five trading sessions.

Fiscal policies such as tax cuts and freezing of payments have been supportive of the overall efforts of keeping inflation at bay.

The National Assembly called for the Government to have a long-term solution to resolve bad debts.

The objective is to ensure sufficient capital for the Government to carry out its socio-economic recovery packages.

The country remains a manufacturing hub and a key link in the global supply chain despite geopolitical and pandemic-related challenges.

As of the end of the first quarter, the number of service providers accepting payments through Mobile Money was 11,254, which settled around 7.5 million transactions for a total of VND280 billion (US$12.23 million).

The directive called for law revision on the management of the corporate bond activities to enhance efficiency in the process of law enforcement for greater transparency and safety of the market.

Vietnam has achieved the milestone three years earlier than the Government’s target for 2025.

The event targets to attract young consumers to access and experience modern payment services.

In the medium term, Vietnam’s vision to become an upper-middle-income economy will depend on its ability to evolve from its current growth model to productivity and innovation-led growth model.

Tan Hoang Minh said it would refund the capital to investors, in case the bond issuance sessions are canceled upon request from the authorities.

The focus is to ensure a healthy fiscal foundation and sustainable budget policy in line with Vietnam’s international commitments and good practices.