Finance Minister Vuong Dinh Hue has expressed his belief that the stock market will enjoy growth in the year of the dragon.
While opening the first session of the Hanoi Stock Exchange on January 30, he said the Ministry of Finance (MoF) will urge the State Securities Commission (SSC) to coordinate closely with related agencies to manage the market.
Authorities will also start restructuring the market, insurance and financial companies and business operations, he said.
In this connection, Hue emphasized establishing a channel for long-term capital mobilization will be the financial sector’s key task in 2012. The MoF will help listed companies with credit, tax, and business bond market development through equitization.
Especially, the ministry will boost the establishment of business credit rating agencies in order to develop the domestic capital market and attract foreign investment.
SSC Chairman Vu Bang said under the instruction of the Prime Minister, his committee is working with the MoF to build a project on comprehensive restructuring of the sector to ensure the stability and sustainability of Vietnam’s stock market and make it an effective channel for capital mobilization.