Hanoi, 28th July 2020, Vice Chairman of the State Securities Commission (SSC), Mr. Pham Hong Son hosted a courtesy meeting with the delegation of the Australian Embassy and the World Bank Group lead by Mr. David Gottlieb - Acting Deputy Ambassador of the Australian Embassy.
On behalf of the State Securities Commission, the Vice Chairman shared with the delegation about the securities market developments of Vietnam recently as well as the Government's orientation in developing the securities market in both width and depth, efforts to upgrade from the frontier market to emerging market to attract more domestic and foreign investors, promoting the supplies and demands on the securities market, creating a sustainable development for the financial market in general and the securities market in particular.
On the behalf of the delegation, Mr. David Gottlieb expressed his thanks for the SSC’s arrangement for this meeting as well as useful information about the developments of the Vietnam securities market on its 20-year journey. In recent years, two countries have taken important steps to strengthen long-term cooperation, promote two-way investments, and it is expected that Vietnam's stock market will become a destination for foreign investors, including Australian investors in the near future. Mr. Gottlieb highly appreciated the SSC’s solutions for establishing an open and transparent investment environment that providing contributions to enhance the Vietnam’s reputation before the foreign investors. He also affirmed his willingness to provide supports to Vietnam in the field of capital market so as to strengthen the effective cooperation relationship between two countries.
Under the Joint Capital Market Development Program (JCAP), sponsored by the Australian Government, through Department of Foreign Affairs and Trade (DFAT) – Australia, and are implementing by the World Bank Group (WBG) in collaboration with International Financial Cooperation (IFC), the Vice Chairman of the SSC said that the SSC wishes to continue to receive the assistance for strengthening the legal framework, enhancing capabilities relating to inspection and supervision in the securities market, introducing new products using financial technology (FinTech), applying international accounting and auditing standards – IFRS in making financial statements of the listed enterprises and supporting the market upgrade from frontier market to emerging market.
Amid the Covid-19 pandemic, the two sides are optimistic about the development of the Vietnam securities market and look forward to more effective and practical cooperation in the future./.