The State Securities Commission of Vietnam (SSC), the country’s stock market watchdog, confirmed the stock market will remain operational as usual during the 15-day of enhanced social distancing period.
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According to the SSC’s announcement, transaction activities in the stock market are considered essential services which must stay operational in all circumstances.
The SSC requested the stock market exchanges, Vietnam Securities Depository, brokerage firms and other relevant agencies to ensure safe and smooth operation of the stock market during the Covid-19 pandemic.
Previously, rumors emerged that Vietnam’s stock market is subject for operation suspension under the government’s announcement of 15-day of enhanced social distancing period nationwide. SSC Chairman Tran Van Dung told local media this was fake news, adding the agency has not received any instruction from the government regarding the operation of stock markets.
Dung added banking and securities are two essential fields of the economy, and subject to continuous operation.
Dung said amid the pandemic, the SSC’s top priorities are to ensure safe operation of the stock market and the safety of all staff.
The SSC is committed to minimizing its intervention into the market and respecting the supply – demand of stock trading, Dung said.
On March 18, the Ministry of Finance enacted Circular No.144 making six securities services free of charge and lowering the fees for nine others in a move to help stock investors overcome impacts of the Covid-19 pandemic.
Circular No.14 will be effective in five months from March 19, 2020 to August 31, 2020. Depending on the actual situation of the Covid-19 pandemic, the ministry could extend the validity period of the circular.
