SSI Chairman said that it is important to turn the Vietnam stock market into a place to keep assets, not just a place to buy and sell for a profit, then withdraw and keep assets elsewhere.
SSI Chairman said that the stock market has achieved many achievements that the participants from the beginning, even in dreams, do not think about.
Vietnam’s stock market has gone through 20 years of establishment and development. As one of the participants from the beginning, Mr. Nguyen Duy Hung, Chairman and General Director of SSI Securities JSC ( HoSE: SSI ) shared with the news The flow of money , National Assembly Television decided to establish The stock market of State leaders at that time was a brave decision.
At the time of birth, the stock market had only 2 listed shares, 4 securities companies, with very low liquidity. SSI Chairman recalled that until a year later, the intermediaries still did not understand where to get their income to maintain operations other than creating a market for investors to practice, buy and sell for profit and spread. experience.
“However, to this day, the silhouette of Vietnamese enterprises, Vietnamese brands appear in all fields from real estate, production, consumption, finance … The important system is the banking system. Commercial goods, from a very small capital a few billions, a few tens of billions to many billions of dollars now, all that is possible only through the stock market. How with the economy, then put against the question of no stock market at that time, what do we have today? Over the past 20 years, the Vietnamese stock market has achieved many achievements that the participants From the beginning at that time even ‘in a dream could not think’, Mr. Hung shared.
After 20 years, Vietnam has 23 billion USD enterprises on the stock exchange. However, Mr. Hung thinks that the stock market can achieve more achievements. The key to scaling up is not only to increase the interest of foreign investors, but also to increase the interest of domestic investors, making the stock market a place to keep assets, not merely. is a place to buy and sell to make a profit, to withdraw and keep property elsewhere.
“The stock markets in developed countries can be strong because people not only have the habit of keeping money, gold, and saving money, but most of them keep their assets with shares of large corporations,” said SSI leaders.
The Securities Law 2019, recently passed by the National Assembly, has overcome many points that the old Law does not have specific regulations to implement. The head of the largest securities company in the market expects that the new Law will be suitable to develop the stock market in the next stage.
Specifically, there are 2 subjects on the stock market: investors and enterprises. After raising capital, enterprises are entitled to decide how to use capital. Meanwhile, investors enjoy benefits and benefits through ownership of shares and play a passive role, only having the right to buy or sell stocks. According to SSI Chairman, any legal system must have sanctions to ensure market transparency, protect investors – passive people.