State Securities Commission celebrates 20th anniversary

• Vietnam's stock market on track to hit $100 billion by end of 2016
• Prime Minister Nguyen Xuan Phuc works with leaders of Ca Mau and Bac Lieu

Prime Minister Nguyen Xuan Phuc attended the event.

Over the past 20 years since its birth, the SSC has contributed to promoting development of the market, became an important medium- and long- term capital channel in the national socio-economic development.

Prime Minister Nguyen Xuan Phuc at the event

Thanks to the stock market, the Government and various enterprises were able to mobilize a huge sum of capital to invest in business and production.

The bond market had an average annual growth rate of 31%, which is estimated to rank top among emerging economies in East Asia and the ASEAN+3, becoming an increasingly important channel for capital mobilization of the Government.

State Securities Commission received the Independence Order of second class

Speaking at the event, PM Nguyen Xuan Phuc applauded contributions of the securities sector to the economic reform and improved efficiency of equitization and capital mobilization of enterprises.

He urged the sector to focus on several major missions, stressing the need to perfect institutions, mechanisms and policies in line with national economic development and international practices to achieve synchronic and united development of the stock market.

It is necessary to develop the stock market with sustainability, complete structure at various levels, increase the size and quality, diversification of products, to improve the capacity and quality of participants in the market, and to ensure market’s safety, effectiveness and sustainability.

The PM also affirmed that the Government has committed to maintain macroeconomic stability, to create a transparent legal framework and healthy and equal competitive environment, to protect legitimate rights and interests of investors and other participants in the market.

He pointed out the need to promote economic restructuring, equitization of State-owned enterprises, to facilitate development of Vietnam's stock market quickly and sustainably.

The Vietnam’s State Securities Commission was officially founded on November 28th, 1996.